NEW YORK (PIX11) — Tenants living in rent-stabilized apartments around New York City may soon find out just how much more they will have to pay toward their monthly rent.
The Rent Guidelines Board will meet at 5 p.m. Monday at Hostos Community College in the Bronx to discuss raising the rent for one million rent-stabilized apartments across the five boroughs.
Bronx tenants will rally beforehand in front of the post office at 149th Street and Grand Concourse, urging the board to roll back the rent. Renters fear they will be forced out on the streets if they can’t make their monthly payments.
In May, the Rent Guidelines Board voted to consider raising stabilized rates by a range of 2% to 5% for one-year leases and 4% to 7% for two-year leases.
Last year, the board approved the largest hike at 5% for two-year leases.
New York City has the highest rate of households behind on rent in the country at 21%, according to a recent Census Bureau study.
The Rent Guidelines Board is considering another hike because landlords say they need money to pay for inflation and increased costs for repairs.
Many tenants, especially those on a fixed budget, are concerned rent hikes would fuel homelessness, displacement and push more families to the edge.
The Rent Guidelines Board will meet five times this month before making a final decision on rent hikes on June 21.
