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NEW YORK
RENT GUIDELINES BOARD - 2007 DECISION
June 26, 2007 Rentlaw.com: More than 1 million New Yorkers who live in a rent-stabilized apartment, you'll soon be paying more in rent.
 Newly
Adopted Rent Stabilized Guidelines Effective October
1, 2007 through September 30, 2008
The
NYC Rent Guidelines Board adopted guidelines
(in PDF
format) for rent stabilized apartments, lofts
and hotels on June 26, 2007.
The Rent Guidelines Board voted Tuesday night to grant another round of rent increases.
The Rent Guidelines Board voted 5-4 to raise the rent to more than 1 million rent stabilized apartments across the city.
Rents go up 3 percent for apartments on a one-year lease and 5.75 percent for apartments where the lease is two years.
The outcome was the same as in the past, as one would expect. Rents were set too high for renters and too low for landlords.
Last year, the landlords received an increase of 7.75 percent for two-year leases and 4.75 percent for one-year leases.
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Before the final vote, the board rejected,
by 7-2, a tenant proposal for no increases
at all and a landlord request for increases
of 5 and 9 percent.
Tenants were hoping for a break this year
because landlords' operating costs increased
by just 5.1 percent - the lowest jump since
2002.
In a preliminary vote last month, the
board approved a range of increases of 2 to
4.5 percent for new one-year leases and 4
and 7.5 percent for two years.
The new rents affect leases that expire
on or after Oct. 1, meaning about two-thirds
of the city's estimated one million
rent-stabilized apartments.
Tenant leaders tried to pressure Mayor
Bloomberg - who appoints all of the board's
nine members - to tilt to the lower end of
the recommended hikes by staging a press
conference with a "report card"
critical of his housing policies. |
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Rent
Stabilized Guidelines Effective October 1, 2006
through September 30, 2007
On
June 27, 2006, the NYC Rent Guidelines Board adopted
the current guidelines for rent stabilized
apartments, lofts and hotels. Current and past rent
guidelines are available on the Apartment
and Loft Guidelines and Hotel
Guidelines pages
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