Brooklyn Real Estate Q&A and Info » rent stabilization rent increase http://sellahomebrooklyn.com/blog1 Sun, 22 Jan 2012 15:17:34 +0000 en hourly 1 http://wordpress.org/?v=3.2 Rents Go Up Again for Rent-Stabilized Tenants http://sellahomebrooklyn.com/blog1/2009/06/rents-go-up-again-for-rent-stabilized-tenants/ http://sellahomebrooklyn.com/blog1/2009/06/rents-go-up-again-for-rent-stabilized-tenants/#comments Wed, 24 Jun 2009 16:48:32 +0000 Elaine http://sellahomebrooklyn.com/blog1/?p=645 Continue reading →]]> The New York City Rent Guidelines Board last night, amid the usual controversy, approved rent hikes of 3% and 6% for one- and two-year lease renewals for rent-stabilized apartments where the landlord provides heat.  For apartments where heat is not provided, the increase will be 2.5% and 5% for one-year and two-year lease renewals.  The increase affects lease renewals that go into effect after October 1, 2009.

Considering the fact that there are many people unemployed or underemployed, a rent hike for those who can least afford it seems like a hard pill to swallow, however not all landlords are wealthy, and rising expenses makes the increase something that many multi-family property owners need to stay out of bankruptcy and/or foreclosure.

Its a tough situation all the way around for renters and owners a like.

Elaine's Signature

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