NEW YORK – The New York City Rent Regulatory Board will hold its final vote Tuesday night to decide on rent-stabilized increases for one- and two-year leases.
A decision that would affect more than one million New York City tenants living in rent stabilized housing.
In a preliminary vote on May 5, the board approved 2-4% increases for one-year leases and 4-6% increases for two-year leases. Tonight the members will definitely determine if this increase will be made.
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The Rent Stabilization Association (RSA) said in May that while other costs have increased, rent guidelines have not.
“Over an eight-year period, the one-year average guideline was less than 1%, and that’s just not enough to maintain the buildings,” Signorile said.
For eight years, Rockwell Reid has lived in a two-bedroom, rent-stabilized apartment in Manhattan’s Financial District with his wife and daughter. His rent has slowly gone up about 1-2% a year, but that could change dramatically.
“I think renters should expect an across-the-board increase, but I think 4-6% is pretty high,” Reid said. “Do residents who are working get the same percentage increase in their salary?”
Shaylah Reyes is worried about living with her 3-year-old son, Zaire, in her rent-stabilized apartment in the Bronx.
“I just don’t think it’s right because it’s hard enough as it is, so making it harder [para pagar]ten times harder, for people who are already living paycheck to paycheck, you’re just going to have more homeless people on the street,” Reyes said.
The lead attorney in the civil practice of The Legal Aid Society, Adriene Holder called Tuesday morning before the final vote for an “immediate” rent freeze because an increase affects the most vulnerable New Yorkers.
“At a time of great economic uncertainty, with so many daily essentials at record prices, we are calling for an immediate rent freeze by the Rent Guidelines Board,” Holder said. “Increasing rents for some of our closest neighbors vulnerable people – the elderly, working-class families, the disabled, and others who predominantly reside in communities of color – is reckless and punitive.”
New York City Councilwoman Adrienne E. Adams also asks the board “to vote for rent increases at the lower end of the range.”
Last Thursday, determining that there is indeed a public emergency requiring rent control in New York City, the City Council voted to extend rent stabilization laws that are due to expire next month.
The legislation states that the City Council has determined that an ongoing housing emergency exists, and that the emergency will continue after the current expiration of the Rent Stabilization Law, on July 1, 2022. Additionally, the introduction of the Legislation 558-A requiring expiration was passed with the date of the amended Rent Stabilization Act as April 1, 2024, allowing the rent regulation renewal to follow its regular three-year cycle. This legislation is currently awaiting the signature of Mayor Eric Adams.
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