Rent hiked for NYC stabilized apartments
(AP) - The rent is going up for New Yorkers living insome one million rent-stabilized apartments.
New York City's Rent Guidelines Board voted Tuesday night toraise rents 3 percent on one-year leases and 6 percent on two-yearleases.
A board spokesman says tenants who have rented apartments forsix years or longer will see rents for a one-year lease jump by 3percent or $30 a month, whichever is higher. A two-year lease willincrease the rent by either 6 percent or $60 a month.
Rent Guidelines Board Chairman Marvin Markus says half of thecity's stabilized apartments rent for $925 a month or less.
Esther Wang of the Chinatown Tenants Union says many tenantswalked out of the Manhattan meeting after the board voted down aproposal to freeze rents.