New York tenants in rent-stabilized units should expect to pay more in the next two years, the Rent Guidelines Board ruled on Thursday.
A final decision on allowable rent hikes won’t be made until June, but the board set parameters for where those hikes will fall during a raucous meeting at Cooper Union.
For one-year lease renewals, the rent increases will be between .75 percent and 2.75 percent.
For two-year re-ups, allowable hikes will between 1.75 percent and 3.75 percent.
Both sides left the meeting steamed they didn’t get what they wanted.
Tenants wanted a rent freeze.
“Shut it down!” scores of tenants screamed at the meeting’s end. “What do we want? A rent freeze! When do we want it? Now!”
Vito Signorelli, from the Rent Stabilization Association which represents building owners, couldn’t believe his side got so little. He said the board folded to loud protesters.
“This is absolutely crazy,” he said. “The owners didn’t even get a chance to put a motion on the table. Historically the owners always get a chance to put a motion on the table. The crowd is out of control tonight and something needs to be done.”
Landlords had wanted 4-percent hikes for one-year renewals and 7-percent increases for two-year deals.
Despite the board coming closer to renters, tenants insisted they’re getting a bad deal.
“They (the board) didn’t even make eye contact with us. It was so easy for them to say no (to the rent freeze) it’s horrifying. It’s sad,” said Elaina Latrese, a 30-year-old fast food worker from The Bronx.
“To be a New Yorker and know it’s so easy for them to say yes to increases. We’re tired of hearing of everything going up and there is no way to pay for it.”
Additional reporting by David K. Li
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