The New York City Rent Guidelines Board held a public hearing in Manhattan on Tuesday night at Symphony Space on the Upper West Side.
Landlords and tenants alike had a chance to testify in front of the board and voice their opinions on upcoming rent increases.
What You Need To Know
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- The New York City Rent Guidelines Board held a public hearing in Manhattan on Tuesday night at Symphony Space on the Upper West Side. Landlords and tenants alike had a chance to testify in front of the board and voice their opinions on upcoming rent increases
- Tenants demanded a freeze on the rent
- Landlords say they need more money to cover for their buildings’ maintenance and repairs
- The Rent Guidelines Board will vote on the proposed rent hike on June 30
As the meeting was getting under way, a couple dozen people held a protest outside, demanding a freeze on the rent and claiming their communities have been displaced due to rent hikes.
More than 200 people attended the public hearing, with rent-stabilized tenants angry about proposed rent hikes.
Last month, the board readjusted its original proposal for two-year leases to a range of 3.75% to 7.75%, but they plan to keep the proposed hike for one-year leases at 1.75% to 4.75%.
Rent stabilized tenant Hannah Lawson also came to the hearing to testify in front of the Rent Guidelines Board.
She lives in a rent-stabilized studio in Washington Heights and says nearly half of her salary, before taxes, goes to rent.
“I think a lot of people are caught between a rock and a hard place, and it would have to mean moving out,” Lawson said. “I have so many friends my age that still have to live with their parents.”
In part, she blames the aftermath of the pandemic for some of the economic pain.
“We are all still hurting,” Lawson explained. “The job market is still bad, groceries are out of control and rent being raised is the last thing that needs to happen.”
Mae Ahern says tenants want predictability and stability.
“I don’t think it’s outrageous to want to be able to predict what you are going to pay for one of your most fundamental needs, a place to live, year over year,” she said.
On the flip side, landlords say they need more money to cover for their buildings’ maintenance and repairs.
Ron Cohen, a commercial real estate broker who sells multifamily properties for landlords, came to the public hearing with a clear message for the Rent Guidelines Board.
“Any increase in rents is very necessary to maintain quality to maintain these buildings for a better quality of living for these tenants,” he said.
The Rent Guidelines Board will vote on the proposed rent hike on June 30.
Their decision will impact leases starting on or after Oct. 1, impacting the roughly 2.4 million people who live in rent stabilized units in the city.
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Ronald H. Cohen