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NYC Rent Guidelines Board approves hikes

June 23, 2009 9:16:47 PM PDT
The rent is going up for New Yorkers living in some one million rent-stabilized apartments. New York City's Rent Guidelines Board voted Tuesday night to raise rents 3 percent on one-year leases and 6 percent on two-year leases.

A board spokesman says tenants who have rented apartments for six years or longer will see rents for a one-year lease jump by 3 percent or $30 a month, whichever is higher.

A two-year lease will increase the rent by either 6 percent or $60 a month.

Rent Guidelines Board Chairman Marvin Markus says half of the city's stabilized apartments rent for $925 a month or less.

Esther Wang of the Chinatown Tenants Union says many tenants walked out of the Manhattan meeting after the board voted down a proposal to freeze rents.


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