[Hpn] RENT CURBS FOR 3 MORE YEARS

William Charles Tinker wtinker@verizon.net
Thu, 30 Mar 2006 08:34:27 -0500


http://www.nypost.com/news/regionalnews/61664.htm

RENT CURBS FOR 3 MORE YEARS

By STEPHANIE GASKELL

March 30, 2006 -- 

Citing a housing emergency in the city's rental market, Mayor Bloomberg
extended the rent stabilization laws for another three years yesterday.

The vacancy rate in the city is just over 3 percent, according to a 2005
survey.

The law says that you can't discontinue rent stabilization until that number
hits 5 percent.

In June, the Rent Guidelines Board increased rents by 2.7 for one-year
leases and 5.5 percent for two-year leases. Rent stabilization will remain
in effect until April 1, 2009.


There are more than 1.1 million such apartments in the city.



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