June 26, 2007 Rentlaw.com: More than 1 million New Yorkers who live in a rent-stabilized apartment, you'll soon be paying more in rent.
The Rent Guidelines Board voted Tuesday night to grant another round of rent increases.
The Rent Guidelines Board voted 5-4 to raise the rent to more than 1 million rent stabilized apartments across the city.
Rents go up 3 percent for apartments on a one-year lease and 5.75 percent for apartments where the lease is two years.
The outcome was the same as in the past, as one would expect. Rents were set too high for renters and too low for landlords.
Last year, the landlords received an increase of 7.75 percent for two-year leases and 4.75 percent for one-year leases.
Read the rest of this article on Rentlaw.com - The National Landlord Tenant Guide
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