Rent board approves hikes for stabilized apartments

New York City's Rent Guidelines Board hasapproved a rent increase for the city's rent-stabilized apartmentdwellers.

Landlords who don't charge their tenants for heating can hikethe rents 4.5 percent on a one-year lease and 8.5 percent on atwo-year lease.

Tenants who pay for heat could see increases of 4 percent onone-year leases and 8 percent on two-year leases.

A spokesman for the landlords says the hike approved Thursday ishigher than last year but falls short of covering the rise in fuelcosts.

A tenants' group has said the increases are too steep.

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