NYC rent-stabilized apartments to see another rent increase. Here's how much more you'll pay.
NEW YORK -- The New York City Rent Guidelines Board voted Monday night to approve increases for rent-stabilized apartments.
By a 5-4 count, the board passed a 2.75% increase for one-year leases and a 5.25% increase for two-year leases.
The decision impacts about 1 million rent-stabilized apartments throughout the city or roughly 2 million New Yorkers. The increases will affect rent-stabilized leases that begin on or after Oct. 1.
Tenants, landlords, officials react to the vote
After a similar hike last year, tenants said these increases could lead to mass evictions.
"More and more people are moving out because the rents are unaffordable to them, especially those on fixed income," rent-stabilized tenant Fitzroy Christian said.
"What this rent hike means for me now is going to the supermarket and pick up five things and when I get to the counter I might have to put back two," rent-stabilized tenant Redoneva Andrews said. "My message to Mayor Adams is communicate and understand what people in your city are going through."
Landlords said increases are necessary to keep up with basic operating costs.
"Without them, owners can't keep up with spiking insurance premiums, property taxes, mandates from City Hall that require things like reducing carbon footprint and basic safety and livability requirements," said Michael Tobman of the Rent Stabilization Association.
"Upkeep, maintenance, meeting escalating costs, increases in taxes, insurance, water, sewer rates, inflation," said Kelly Farrell, the group's policy analyst.
In a statement, Mayor Eric Adams said, in part, "We are grateful for the board's careful consideration of the data and their decision to limit increases this year. As we have said from day one, the only way to ultimately lower rents is to build more housing."
Public Advocate Jumaane Williams wasn't as diplomatic.
"When you raise the rents people cant afford it. The housing crisis is getting worse and so it's disappointing to see what this administration decided to do," Williams said.
Adriene Holder, the Legal Aid Society's chief attorney, released the following statement condemning the Rent Guidelines Board's decision:
"Once again, the Rent Guidelines Board has voted to increase rents on stabilized units across the city, jeopardizing the housing stability of more than one million tenants. These needless rent hikes for an already struggling population will undoubtedly lead to increased rates of homelessness, eviction, and displacement.
"This Board's votes, year after year, to continue increasing rents on tenants -- many of whom are already rent-burdened or severely rent-burdened -- prove that they are willfully uninterested in making informed decisions that will keep these units affordable for all New Yorkers.
"Instead, the Board seems interested only in continuing to line the pockets of landlords while tenants are left to suffer the consequences. We condemn tonight's vote in the strongest possible terms."
NYC Rent Guidelines Board's initial proposed rent hikes
The board was considering hikes of 2% to 4.5% for one-year leases and 4% to 6.5% for two-year leases.
Back in April, the board indicated it would support the increases, which are similar to those approved last year.
"When they got the increase last year, that should have been able to give them enough money to cover for a couple of years. I mean, the public, we don't get increases that much," one tenant said during the public comment period.
"It can mean the difference between food ... and being able to even see a doctor to get the care that's going to keep me alive," said another tenant.
Police take several into custody during protest prior to board meeting
Police said at least 10 people were taken into custody for blocking the entrance to the meeting. Board members were also heckled by stabilized tenants over the proposed hike.
"Every year, the rent goes up and none of the repairs are made," rent-stabilized tenant Mercedes Escoto said.
Escoto said she pays $2,000 per month for her stabilized apartment in the Bronx and added she cannot afford to pay a dollar more.
"They'll send us to a family shelter, but I cannot go there with my mother. She's bed bound with 24 hours home care, so where will I go?" Escoto said.
