CONFIDENT POLICE ARRESTED THE
RIGHT PERSON, EDWARD HOLLY.
>> NINE PEOPLE WERE WEIGHING THE FATE OF A MILLION NEW YORKERS
WHEN IT COMES TO RENT.
LANDLORDS SAY IT IS NEEDED, BUT
RENTERS SAY THEY CAN’T AFFORD IT.
RANA NOVINI LIVE IN LOWER
MANHATTAN.
WHEN COULD THE FINAL DECISION
COME WITH THIS?
>> Reporter: WELL, NATALIE, NO
DECISION HAS BEEN MADE JUST YET
AND WE DON’T EXPECT A FINAL
DECISION TO HAPPEN UNTIL JUNE.
BUT AS YOU SAID, THE NINE PEOPLE
ON THIS BOARD, APPOINTED BY THE
MAYOR. WHATEVER THEY DECIDE COULD
AFFECT MILLIONS OF NEW YORKERS.
>> DON’T RAISE OUR RENT.
>> Reporter: TENANT ADVOCATES SAY RENTS ARE ALREADY TOO HIGH.
THEY’RE URGING THE CITY’S RENT
GUIDELINES BOARD TO NOT RAISE
RENT FOR ROUGHLY 1 MILLION RENT
CONTROLLED APARTMENTS. >> THE NUMBERS THAT I HAVE HEARD
FLOATED COMING OUT OF THIS BOARD ARE ABSURD.
>> Reporter: THE NINE PERSON
BOARD HEARD TESTIMONY FROM
TENANT AND OWNER GROUPS.
>> COSTS ARE UP FOR LOTS OF
DIFFERENT BUILDING AND LOTS OF
DIFFERENT WAYS.
>> Reporter: BOTH SIDES SAYING THEY HAVE BEEN HURT BY RISING
INFLATION AND PANDEMIC LOSSES.
THE BOARD HAS FLOATED RENT
INCREASE PROPOSALS AS HIGH AS 16% FOR TWO-YEAR LEASES.
AND 8.5% ON A ONE-YEAR LEASE. A SPOKESPERSON FOR THE MAYOR
SAYS SUCH AN INCREASE IS
UNLIKELY.
THE MAYOR’S OFFICE SAYING NO
RECOMMENDED OR ADOPTED INCREASE
HAS EVER COME CLOSE TO THIS
NUMBER.
AND THIS YEAR WILL BE NO
DIFFERENT.
THE GROUP SUGGESTING OTHERWISE
ARE FEARMONGERING. >> RENT IS INCOME FOR BUILDINGS.
AND WHEN THE INCOME IS LIMITED
AND THE INCOME IS CAPPED, AND
THE INCOME DOES NOT INCREASE IN
AN APPROPRIATE AND RESPONSIBLE
WAY, THE WHOLE SYSTEM FALLS APART.
>> Reporter: MICHAEL SAYS AN
INCREASE IS NEEDED FOR THE
OWNERS TO KEEP UP WITH RISING
COSTS OF MAINTENANCE, PROPERTY
TAXES, INSURANCE AND ENERGY
COSTS.
BUT TENANT GROUPS SAY LANDLORDS
ARE ALREADY GETTING ENOUGH.
>> DO YOU THINK YOU NEED TO BE MADE HOLE?
WHAT ABOUT THE TENANTS PAYING
50% OF THEIR INCOME FOR RENT?
>> Reporter: SO, WHAT IS NEXT, THE BOARD WILL HOLD SOME MORE
PUBLIC MEETINGS OVER THE COURSE
OF THE NEXT FEW WEEKS AND THEN AGAIN THEY’RE EXPECTED TO VOTE
ON THIS SOMETIME IN JUNE.