Tenants: Rent hikes are unwarrantedPosted: Updated:
Bronx residents had the opportunity to voice their concerns Monday about proposed rent hikes for rent stabilized apartments in the borough.
The Rent Guidelines Board held a public hearing at Hostos Community College to allow tenants to speak their minds. Many Bronx residents say the rent hikes are unwarranted because landlords do not keep buildings up to standards.
The proposed hikes for one-year leases are between 2 percent and 4.5 percent, while two-year leases may see an increase between 4 percent and 7.5 percent.
Landlords say rents need to increase to make up for the rising cost of maintaining buildings. Building owners and landlords say tenants will ultimately lose out if there isn't enough money to properly care for the buildings.
The board will vote on the proposed rent hikes June 23.