The New York City Rent Guidelines Board recently revised its proposed rent increases for approximately one million rent-stabilized apartments. In a vote lowering the range for two-year lease hikes to 3.75-7.75 percent, the board responded to concerns about the economic hardships faced by tenants. Despite this change, tenant and landlord advocates continue to express dissatisfaction, highlighting the ongoing struggles of tenants and the need for a more significant rent freeze. A final vote on the issue is expected on June 27, amid calls for more substantial cuts.
Doug Apple emphasized that rising rents needed to account for the stagnant incomes of the tenants, advocating for a careful approach amid economic strain.
Adán Soltren expressed concern over the current struggles of tenants, urging the board to consider deeper rent cuts at the final vote.
Ann Korchak criticized the Rent Guidelines Board's process, stressing it should adhere to mathematical principles rather than emotional appeals from either side.
Despite the adjustment in proposed rent increases, both tenant and landlord advocates believe the changes fall short of what is required to address their concerns.
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