The RGB Acts and Nobody is Happy

The increases that landlords may charge when they are compelled to renew their rent stabilized tenancies has been decided by the Rent Guidelines Board. Each year a series of public events are held at which colorful tenants and landlords appear to scream about how unfair the system is – landlords complaining that the increases are too modest given ever rising taxes and fuel costs….and tenants complaining that any increase will force all tenants to have to move from the City.

This year the RGB decided on a 2% increase for one year leases and 4% for two year leases. All of the tenant advocates on the RGB voted against the increase believing it to be too much of an increase. All of the landlord advocates on the RGB voted against the increase believing it to be too little of an increase.

These increases kick-in on October 1, 2012.