Rent hike public hearing held at Hostos Community College
The board will make a final decision on June 17.
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For the third year in a row, New Yorkers living in rent stabilized apartments are facing another round of rent hikes.
Under the new proposed plan by NYC's Rent Guidelines Board, residents signing a one-year lease will be paying 2-4.5% more in rent prices starting Oct. 1- Sept. 30, 2025.
If a renter signs a two-year lease during that same time, they are looking at a 4-6.5% jump.
The latest hearing started at 5 p.m. at Hostos Community College and gave residents like Carol Larmond the chance to voice her concerns.
"People are going to be homeless," said Larmond, a Bronx resident. "People are not going to be able to survive."
Just last year, the Rent Guidelines Board upped the cost 3% for one-year leases and 3.2% for those in a two-year agreement.
Larmond is not alone in this sentiment - emotions were high outside of Hostos Community College ahead of the hearing, voicing their financial concerns about what a potential rent hike may mean for them.
“I think that’s terrible," said Debra Smith. "Some people have been living in those apartments for years and years and years. Some of those people are on a fixed income.“
Tonight’s meeting was just one of four opportunities residents across the city will have to share their concerns. The board will make a final decision on June 17.
