New York: New York City’s low-income residents rallied against the increase in rents and asked the department’s guidelines board to reduce rents.
The low-income tenants have submitted requests to the Guidelines Board regarding the expect rent increases in the city.
Citizens say the expected increase in rent will be unbearable. The Guidelines Board is holding public hearings this month for tenants across the city to voice their concerns.
Tenants say that the amount of the rent increase is currently unknown, but any increase will result in more hardships for them.
Under the guidelines, the board is considering increasing the rent by between two to five percent for one-year leases and four to seven percent for two-year leases.
The potential increase would affect nearly 2 million renters across the city. Property owners say they need additional funds to pay for rising property taxes, insurance costs and building repairs.
