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NYC’s Rent Guidelines Board Walks Back Hike On Stabilized Apartments in Rare Revote
The Rent Guidelines Board on Tuesday scaled back its planned hikes on nearly 1 million rent-stabilized units — in a rare reversal that landlords said will leave New York City’s aging buildings in disrepair.
The board’s re-vote shaved down the proposed range of increases for two-year leases to 3.75% to 7.75%, down from the minimum of 4.75% that it passed last month.
Rent increases for one-year leases will stay the same at a range of 1.75% to 4.75%.
Read More at the New York Post
ZL
Should be zero increase!
AH
Excellent idea. Let’s keep soaking the landlords; they’re just rolling in tubs full of money.
Oh, wait: they’re actually facing rising costs too, and that money has to come from somewhere. So there will be more deferred maintenance, etc.
But at least you really “stuck it” to them, huh? The actual effects on the tenants – why, you’re not capable of thinking that far ahead.
Yossele
Ugh… Those poor landlords!
P. McDonald
Take up a collection for them