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Rent-stabilized apartments could see another rent increase. Here’s what the board will vote on tonight.

<i>WCBS via CNN Newsource</i><br/>New York City's rent-stabilized apartments could see another rent hike coming soon.
WCBS via CNN Newsource
New York City's rent-stabilized apartments could see another rent hike coming soon.

By Christina Fan, Ali Bauman

Click here for updates on this story

    NEW YORK CITY, New York (WCBS) — New York City’s rent-stabilized apartments could see another rent hike coming soon.

The city’s Rent Guidelines Board will vote Monday on the latest proposed increases, which would impact more than 2 million tenants.

The vote is scheduled for 7 p.m. at Hunter College, but various tenant organizations plan to protest outside the meeting an hour before.

They say a rent hike could lead to an eviction crisis and have devastating consequences for low-income tenants.

“We are really hoping that there’s a low end to any increase increase at all. I share the concerns of advocates and others. You know, we need to make sure we keep the city affordable,” Mayor Eric Adams said.

NYC Rent Guidelines Board’s proposed rent hikes The Rent Guidelines Board is considering increases 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.

The Legal Aid Society says the Rent Guidelines Board should not only vote the proposal down but also freeze rent for all stabilized renters.

“We think the tenants are suffering significantly. We’re seeing increases in eviction filings, increases in evictions, increases in people resorting to different forms of aid,” Legal Aid Society staff attorney Robert Desir said.

Landlords say hikes are painful but necessary During the final public comment period, landlords argued they are operating at a loss and need to be able to cover operating costs.

“With the rent that I make from the building, I cannot even pay the utilities,” landlord Maria Rabinovitch said.

CBS New York spoke with the Rent Stabilization Association, whose members own and manage more than 1 million rent-stabilized apartments in the city.

“Many are approaching 100 years old, some are even older than that,” said the group’s policy analyst, Kelly Farrell. “Upkeep, maintenance, meeting escalating costs, increases in taxes, insurance, water, sewer rates, inflation.”

If approved, the increases would affect rent-stabilized leases that begin on or after Oct. 1.

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