US News

HIKES GIVE RENTERS A BREAK

A bitterly divided Rent Guidelines Board took action last night to guarantee that this year’s rent increases will be significantly lower than last year’s.

By a 6-3 vote following an hour of acrimonious debate, the board approved preliminary hikes of 2 to 4.5 percent for one-year lease renewals and 4 to 7.5 percent for two years. The board will vote on the final figures June 23 after public hearings.

Last year, landlords were allowed to raise rents by 4.5 and 8.5 percent — the most since 1990.

Mayor Bloomberg, who appoints all nine board members, said he anticipated “a lot lower recommendation than what they did before,” because landlords’ operating costs had dropped since the last hike.

The board’s two tenant members, fuming at what they described as a rushed process with little public discussion, refused for the first time to take part in the rate-setting process.

The final rent hikes will affect rent-stabilized apartments with leases expiring after Sept. 30.