New Yorkers who live in the city's rent-controlled apartments are bracing for a vote from the Rent Guidelines Board that could see nearly 1 million apartments see as much as a 9% rent hike.
Tenants living in rent-stabilized apartments could see their rents go up by as much as 4.5% on a one-year lease and as much as 9% on a two-year lease if the Rent Guidelines Board okays new rent increases.Mercedes Escoto is a retired social worker who takes care of her 84-year-old bedridden mother. She currently pays more than $1,400 a month for her rent-stabilized two-bedroom, one-bath apartment near the South Bronx. She says she cannot afford a rent increase.
"People are really struggling right now," said Andrea Shapiro of the Met Council on Housing, a tenant's rights organization.According to Shapiro, any rent increase for rent-regulated apartments in the city would be devastating. "Costs have just skyrocketed. Fuel has gone up. We have a lot of mandates from the city council like new energy efficiencies, lead paint abatement, facade improvements," Athineos said.
"Owners were still required to pay all of their expenses, mortgages, property taxes, water bills, heating expenses and, in addition, all of those expenses went up over the last two years," said Vito Signorile, Vice President of the RSA.
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