Operating costs for landlords of the city’s million rent-stabilized apartment buildings jumped 7.8 percent last year, a harbinger that rent hikes this year will be larger than last.
The figures were reported yesterday by the Rent Guidelines Board, which meets Monday to begin the process of setting this year’s rent hikes for leases signed on or after Oct. 1.
The final increases will be established in June after the usual round of public hearings.
Last year, when landlord costs jumped 5.1 percent, the board voted rent hikes of 3 percent for one-year lease renewals and 5.75 percent for two-year renewals.