On Monday June 23rd the Rent Guidelines Board voted for a one percent increase on one-year leases and a 2.75 percent on two-year leases . The proposal passed by a 5 to 4 vote. The increases take effect on leases signed after October 1st.
Prior to the vote on Monday, on Thursday,June 19th CMS staff and members of CMS’ Housing Coalition participated in the Rent Guidelines Board (RGB) public hearing for Queens’ tenants and landlords in Queens Borough Hall. During the public hearing on Queens’ tenants and landlords gave the Rent Guideline Board their personal testimonies in the hopes that the RGB members will be swayed by their personal narratives. Tenants and advocate groups who are pushing for a rent freeze urged the RGB to consider their own research which shows that more than a third of stabilized tenants are paying over half their income in rent. Landlords lamented that rents should increase to reflect the rising maintenance costs and property taxes.
The final vote took place on Monday June 23rd at 6 p.m. at The Great Hall at Cooper Union 7 East 7th Street at corner of 3rd avenue in the basement. The decision to increase the rent will impact approximately 1 million tenants throughout the five boroughs who live in rent-stabilized apartments.
Click here to see images from the final vote.