Rent Board, Booed as Usual, Recommends Increases

Wednesday, May 05, 2010

The Rent Guidelines Board has recommended rent increases of 2 to 4 per cent for apartments leased for one year and increases of 4 to 6 per cent for those leased for two years.    Increases of 3 per cent for one year leases and 6 per cent for two year leases were approved last year.   The Appellate Division of the New York State Supreme Court is currently considering whether or not to overturn a decision by a lower court that the rent increases for 2008 and 2009 were illegal.