NEW YORK (PIX11) — Dozens of tenants in New York City’s rent-stabilized apartments are making their voices heard. On Monday night, they attended the first of four public hearings on the Rent Guidelines Board’s proposed increases for lease renewals.
Last month, the board took an initial vote to hike rents by 2% to 5% on one-year leases and 4% to 7% on two-year leases. A final vote will be held on June 21 after the public hearings.
Kim Statuto is among the tenants who attended Monday’s hearing at Hostos Community College. She said if the hikes are approved, her rent will increase by $60 per month.
“$60 takes away from food, $60 takes away from basic needs, Con Ed., rent increase goes up, but guess what? My income doesn’t stays the same all year,” Statuto said.
However, landlords of rent-stabilized buildings said they are being squeezed by rising costs as well.
“Property taxes, energy costs, maintenance costs, skyrocketing insurance premiums, these are the main drivers of increasing costs in buildings,” said Michael Tobman with the Rent Stabilization Association, which represents tens of thousands of landlords.
The next public hearing is Thursday, June 8, in Jamaica, Queens, followed by an all-virtual public hearing on June 13 and one on June 15 at St. Francis College in Brooklyn.
All speakers must sign up in advance. You can find more information here.