More News from the Rent Guidelines Board

complaintsAccording to an article in today’s New York Times, the Rent Guidelines Board, which oversees proposed increases in rent for tenants living in rent-regulated apartments, there will be an increase in 2009. Despite wide-spread calls for a rent freeze or even a decrease, the RGB has stated that rents will likely be raised between 2% and 4.5% on one-year leases and between 4% and 7.5% on two year leases, despite a stagnant economy. The increases are supposedly to help landlords cover rising expenses. FYI–the RGB has never lowered or frozen rents since its inception in 1969.

More coverage over on Curbed.


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Michelle Erfer is a licensed Real Estate Salesperson in New York City.
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