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NYC Rent Guidelines board meets
The New York City Rent Guidelines board met today to discuss raising the rent for tenants of stabilized apartments. FOX 5 NY's Kendall Green has the latest on how tenants are barely making ends meet as it is now.
NEW YORK CITY - Rallies and debates triggered by possible rent hikes across New York City have garnered an emotional response from New Yorkers hoping to keep their head above water with their monthly housing expenses.
Thursday, as the 9-member rent guidelines board approaches their annual vote on stabilized rentals across the city.
They're hearing from both tenants and owners about their decision to potentially raise rent across the city.
A city has more than 7 million citizens; among them, 70% are renters with everyday living costs that make renting a struggle.
"It is essential to keep rent stabilized in order to ensure low-income residents have access to safe and affordable housing," Blaze Lapier reasoned with the board in his testimony.
Lapier with the Goddard Law Project supports West Manhattan residents in single-room occupancies.
"These individuals rely on SRO units as a stable and secure living arrangement as they provide an essential safety net to those who would otherwise struggle to find housing," Lapier noted.
Another advocate pointed out the impact on NYC's black and brown tenants who have been disproportionally affected by the rising cost of housing.
"Tenants living in majority black zip codes are three times as likely to be evicted as tenants living in majority white zip codes and Latin X tenants are most likely to be threatened with eviction," Leah Goodridge with the Mobilization for Justice said.
But the Rental Stabilization Association’s 26,000 members that own and manage more than a million apartments in the NYC metro argue rising costs of rents are simply necessary for maintaining properties.
"Rent is income for buildings and the income is capped. When the income does not increase in an appropriate way the whole system falls apart," Michael Topman with the Rental Stabilization Association said.
He credits escalating energy costs, property taxes, and insurance costs as contributors to a hike he fully supports.
"There needs to be necessary responsible adjustments that income meets all of those rising costs," said Topman.
The board is expected to make a final vote mid-summer that would affect millions.