Monday, April 29, 2013

Preliminary Vote: Tuesday, April 30th

Tomorrow evening, the NYC Rent Guidelines Board will hold their preliminary vote on this year’s rent adjustment for rent stabilized apartments and SROs. In recent years, they have opted to vote on a range of increases (i.e. 0% - 3%). While the Board is not legally obligated to choose a final guideline that fits within the range they approve at the preliminary vote, they have often voted that way in the past.

What would be an acceptable preliminary guideline? Well, the landlords’ lobbyists have suggested an increase of 7% for one year leases and 11% for two year leases. We consider this to be dangerously high. It would represent an increase far in excess of the data presented by RGB staff, and would drive many rent stabilized apartments out the realm of affordability and towards deregulation.

We are asking the Board to take seriously the tenant movement’s entreaty: consider a 0% adjustment. We ask that they consider the possibility of holding rents steady for the year, after decades of rent increases which have been unaffordable to many low and moderate income tenants- and in light of voluminous data suggesting that rents have increased beyond all other economic markers.

If you are interested in attending the preliminary vote, it will take place on April 30th at 5:30 pm at 1 Bowling Green (the Alexander Hamilton US Customs House). Please note that the preliminary vote will not take place at Cooper Union, as it has in recent years.

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