Apr 112016
 
Rent Control Reform

Rent Control Reform Is Past Due At a time when rent-stabilized tenants in New York City are enjoying a freeze in their rents, another group of regulated tenants — the dwindling minority in rent-controlled apartments — is facing an increase of up to 9.6 percent over the next two years. New York Times, By MIREYA NAVARRO DEC. 31, 2015 Since December 2015  there has been a concerted effort for rent control reform to correct this inequity, which by the very nature of the rent-controlled legislation affects seniors who have lived in their apartments since the legislation began in 1970.  The 2014 Housing and Vacancy Survey found that the median rent for a rent-controlled unit was $1,020 per month on an average income of $29,000 per year…or 42% of their fixed income. (By comparison, rent-stabilized tenants pay a median rent of just $1,300 per month with average annual salaries of nearly $41,000…or 38% […]

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