Rent board fattens city tenant’s wallets – just a bit!

By
Real Estate Agent with Halstead Property, LLC

On June 24th, the NYC Rent Guidelines Board adopted renewal lease guidelines for rent stabilized apartments, lofts and hotels.

One million rent-stabilized city tenants caught a break last night when the Rent Guidelines Board voted to hike rents by 2.25 percent and 4.5 percent for one- and two-year lease renewals, the lowest increases since 2002.

According to the NY Post, "They threw a bone to the tenants and threw the owners into the water," fumed Jack Freund, executive vice president of the Rent Stabilization Association, which represents 25,000 landlords.

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Rainmaker
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William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

What ever became of "No taxation with our representation?" Or, personal property rights?

The "the NYC Rent Guidelines Board"  belongs is some Communist country or dictatorship.

Bill

 

Jun 27, 2010 09:44 AM #1
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Rainmaker
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Ross Ellis

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