Published: Fri, April 21, 2017
Culture | By Stewart Greene

City Landlord Group Makes Case for Hefty Rent Hikes

City Landlord Group Makes Case for Hefty Rent Hikes

New York City landlords are talking tough, asking for a big rent hike for rent-stabalized apartments.

Under de Blasio, the board for the first time in its history froze rents for one-year leases in 2015.

Although the Rent Guidelines Board will hear testimony from landlords on Thursday, they will also hear from groups that represent tenants. The Rent Stabalization Association, which represents about 25,000 landlords owning nearly a million units, wants increases of 4 percent for one-year leases and 8 percent for two-year leases.

Less than a month after losing its legal bid to overturn the Rent Guidelines Board's rent freeze, the landlord coalition Rent Stabilization Association is calling for rent increases on all one-year and two-year leases.

Over the past three years, owners of rent-stabilized apartments have seen their operating costs jump by 11 percent, according to the group's president Joseph Strasburg, who cited RGB data.

Tom Waters, a housing policy analyst for Community Service Society of NY argued for a third year's freeze.

"Rents are astronomical. They're way out of hand".

Tenant advocates said the shaky finances of many rent-stabilized tenants suggest a third year's freeze is warranted. "I mean, landlords make a lot of money", noted another renter.

It will then hold a series of public meetings before a final vote in June.

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