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RGB defunds buildings, again.
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The NYC Rent Guidelines Board voted Monday to raise rents by 2.75% on one-year leases and 5.25% on two-year leases – not nearly enough to cover the skyrocketing cost of maintaining a rent stabilized building.
That didn’t stop tenant advocates from protesting the increase: board members were heckled, protesters were arrested, and the unsustainable status quo was extended for another year.
This week on Housing New York, Jay looks at how intense political pressure has corrupted the rent guidelines process and what might be done to fix it.
Stories cited in this episode:
amNY: Renters want vouchers. Lawmakers should take notice.
Gothamist: Trifecta of NYC utility hikes could bring double-digit increases: What to know
City Limits: NYC Council Asks: Who Should Pay the Broker Fee?
The Real Deal: Real estate winners and losers in NY legislative session
Gothamist: NYC buildings inspector pleads guilty to accepting bribes, Queens DA says
Times Union: DOJ settles with company N.Y. hired to handle rental assistance
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