Every year, for the past 41 years, the nine members of the Rent Guidelines Board have gathered to reach a secretive consensus that sets the annual rent increases on rent-regulated apartments at somewhere around 3 percent, a move that without fail earns the ire of tenants and property owners alike.
It is unlikely that the Rent Guidelines Board harbors any illusions about its popularity at this point, but this year looks to bring unprecedented animosity. It’s only April and insults are flying, months before the board inevitably makes its rage-inducing decision.
“We need to move away from the days of a kangaroo court,” shouted City Council Speaker Christine Quinn, who took to the steps of City Hall Monday morning to call for reforms to the hated board. “Regardless of the data… the rents go up!” Read More