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Rent Guidelines Board approves rent increase for regulated apartments in NYC after vote

NEW YORK — With the tip of the nationwide eviction ban looming, the Lease Pointers Board authorised a hire enhance for New York tenants in a Wednesday night vote.

Members voted 5-4 to freeze hire for the primary six months of one-year leases in rent-stabilized flats and have a 1.5 % enhance for the following six months. Renters with two-year leases could have a 2.5 % hire enhance. The charges take impact in October.

The choice was shortly decried by advocates for each tenants and landlords. Robert Desir, employees legal professional with the Civil Legislation Reform Unit at The Authorized Assist Society, mentioned he was disillusioned with the choice.

“These New Yorkers – the overwhelming majority of whom are from neighborhoods of colour – embody seniors, the disabled, working class households and others who’re nonetheless grappling financially on account of the pandemic,” Desir mentioned. “These in authorities should advance insurance policies that shield these communities, not measures that can add additional financial hurt to people who find themselves already struggling to make ends meet.”

However the hire enhance doesn’t sustain with landlord bills, in line with Jay Martin, govt director of the Group Housing Enchancment Program, a bunch representing homeowners of rent-stabilized rental properties.

“We perceive that many renters wrestle to make ends meet, however the authorities must be offering them with the help they want by means of vouchers, focused tax breaks, and different subsidy applications. As an alternative, the federal government is failing renters,” Martin mentioned. “It jacks up property taxes, forcing rents to skyrocket, after which places political stress on the RGB to implement hire freezes on rent-stabilized models. This forces housing suppliers to make up the distinction, usually resulting in increased rents on different New Yorkers to assist subsidize this damaged system.”

Final 12 months, amid the coronavirus pandemic, the Lease Pointers Board voted in favor of freezing rents on one-year leases; two years leases have been frozen for the primary 12 months, however topic to a 1% enhance within the second 12 months.

A hire reduction program just lately opened for New Yorkers.

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