[Hpn] RENT CURBS FOR 3 MORE YEARS
William Charles Tinker
Thu, 30 Mar 2006 08:34:27 -0500
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
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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