Rent Guidelines Board holds hearing on proposed hikes
The Rent Guidelines Board held a public hearing Tuesday on the proposed rent hikes for residents living in rent-stabilized apartments in the Bronx and the rest of the city.The meeting is the first of two public hearings the board has scheduled. The board is looking to get feedback from tenants on the proposed increases. One-year lease renewals are scheduled to go up between 2 and 4.5 percent and two-year leases would go up between 4 and 7.5 percent.Tenants across the city have argued that any increase will hurt because of the rising cost of day-to-day living. Landlords say the increases aren't enough and that paying mortgages will be difficult without a significant increase.