Hundreds of thousands of tenants were slammed last night with the highest rent increases in five years — 4 percent for one-year lease renewals and 7.75 percent for two-year renewals.
The hikes were passed at a noisy hearing of the Rent Guidelines Board at Cooper Union, attended by about 100 people.
“I’m floored at how huge the rent increases are this year,” said Harvey Epstein, one of the board’s two tenant representatives.
“It’s outrageous,” agreed Barry Soltz, a record dealer who pays just over $800 for a one-bedroom apartment in The Bronx’s Janel Towers. “Tenants are sick and tired of this.”
The last time the board enacted similar hikes was in 2008, when tenants swallowed boosts of 4.5 and 8.5 percent
Last year, they caught a break, getting hit with increases of just 2 and 4 percent.
As often happens in the annual battle between tenants and landlords, it was the five public members on the nine-member board who pushed through the increases.
The tenant reps voted no, as did the landlords, who wanted even bigger hikes.