By Jill Colvin
DNAinfo Reporter/Producer
MANHATTAN — Think your rent is too damn high? It could soon be higher.
The New York City Rent Guidelines Board is set to cast a preliminary vote Tuesday night on rent hikes for the city’s one million rent-stabilized apartments.
Board Executive Director Andrew McLaughlin said it's up to members to decide how high rents should rise. But one number being floated is a 3.25 percent hike on one-year apartment leases and a 6.5 percent hike on two-year leases, which would be the highest spike in years.
Last year, the board approved increases of 2.25 percent for one-year leases and 4.5 percent for two-year leases after weeks of emotionally charged public hearings.
But this year, costs are on the rise. One recent study released by the board found the cost of operating rent-stabilized buildings increased six percent this year, driven by a 23 percent jump in the cost of fuel oil.
Jack Freund, executive vice president of the Rent Stabilization Association of N.Y.C., which represents property owners, said its members are being stretched by oil prices and other rising costs, including water and sewage.
"It’s very difficult, Property owners are being treated like a cash register by the city," he said. "Owners, over the past number of years, have been getting only half of the increase in their costs… That’s just not sustainable over time."
He's pushing for a hike of between 3.25 and 6 percent for one year leases and 6.5 to 10 percent for two.
But those on the other side say that they're stretched too.
Wasim Lone, the director of housing service for the advocacy group Good Old Lower East Side, which plans to rally ahead of the meeting, said that while he understands owners are facing higher costs, tenants are still struggling with high employment and reduced hours, too.
"We understand the costs have gone up, but how are these tenants going to be able to take a 6.5 increase in two-year leases? It’s going to be devastating," he said.
Lone said he'll push for a one to two percent increase for one year leases and two to three percent for two-year leases — but he's already worrying about the outcome.
"The handwriting’s on the wall. They’re looking for larger increases than last year — that’s for sure," he said.
The vote is set to take place at 5:30 p.m. at Cooper Union's Great Hall at 7 E. 7th St.
Following tonight’s vote, the board will hold public hearings on June 16 and June 20, and will cast its final vote June 27.
The annual vote is often colored by vocal protests from tenant groups and other advocates pressing for low or no increases, while owners press for higher rates.
The board takes numerous factors into consideration, including owners' expenses and tenants' incomes, McLaughlin said.
