Bronx and city residents get chance to voice opinions on possible rent hikes
Bronx and city residents got a chance Tuesday to speak out about the rent increases proposed by the city's Rent Guidelines Board.
Following one of the biggest rent increases in decades, members of the Rent Guidelines Board are once again looking to hike rents. The board wants to increase rent for one-year leases by 3 to 5 percent and raise rent for two-year leases by 5 1/2 to 7 1/2 percent.
Residents living in the Bronx say they cannot afford to have their rents raised again. They say if the hikes are approved they do not know what they are going to do. But landlords say higher rents are needed to help them pay for increasing costs.
The Rent Guidelines Board sets rent increases for about 1 million rent stabilized apartments citywide. They board is expected to make a final decision by Thursday.