Landlord group suing the city over higher rents in the Bronx
The largest landlord group, Rent Stabilization Association (RSA), is suing the city over recently approved rent hikes.
The Rent Guidelines Board approved a rent increase in June 2005 that raises one-year leases by 2.75 percent and two-year leases by 5.5 percent. RSA, which represents an estimated 25,000 landlords throughout New York, says the hikes are pushing them to poverty. RSA says the board did not factor in the dramatic rise in fuel costs over the past year. RSA says raised rents will especially hurt smaller landlords who do not have the volume of tenants to cover rising fuel costs.
RSA landlords are responsible for an estimated one million units of housing throughout the Bronx and the other four boroughs.