CM James Calls 2013 Rent Increases "Concerning"

Councilwoman Letitia James, D-35, criticized the Rent Guidelines Board (RGB) for what she called high increases in rent for 2013. 

The RGB, the panel that sets annual rent increases on rent-stabilized apartments throughout New York, has recommended larger increases for 2013 in comparison with 2012— between 3.25 and 6.25 percent for one-year leases, and 5 to 9.5 percent for two-year leases, James noted in a statement.

In a 2012 report entitled “Rents Through The Roof,” New York City Comptroller John Liu stated that households nationwide spend on average 26 percent of their income on rent. Almost 50 percent of City households spend more than 30 percent of their income on rent, and federal benchmarks deem rent unaffordable when it costs 30 percent or more of the household income.
 
"It is deeply concerning that the Rent Guidelines Board consistently ignores tenant advocates who push for a 1-year rent freeze,” James said in a statement. “The comparably small increases voted on in 2012 seemed to indicate that the RGB recognized that many low-and-middle-income New Yorkers were struggling. Apparently this year it’s business as usual.” 

In 2012, the RGB voted for increases that fell 50 percent below the previous year— between 1.75 and 4 percent for new one-year leases, and between 3.5 and 6.75 percent for two-year renewal leases.