Board approves city rent hikes for next year

Some Bronx residents will be dishing out more money on living expenses next year after the city Rent Guidelines Board voted in favor of a

THE BRONX - Some Bronx residents will be dishing out more money on living expenses next year after the city Rent Guidelines Board voted in favor of a proposal to raise rents on about one million rent-stabilized apartments.

The plan calls for a 2-percent hike on one-year leases and a 4-percent increase on two-year leases. Landlords say owners need the extra money to keep buildings in good condition, but tenant groups argue that New Yorkers can't afford it.

City Comptroller John Liu issued a statement saying in part, "It is disappointing that the Rent Guidelines Board refused to consider freezing rents in stabilized apartments for this year...It is, however, encouraging that the recommended increase is the lowest it has been in at least seven years."

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