NEW YORK (1010 WINS) — Emotions ran high Tuesday night at Cooper Union as the New York City Rent Guidelines Board voted to consider increases on one and two-year leases.
The board agreed to put a 3 to 5.75 percent increase on one-year leases and a 6 to 9 percent spike on two-year leases up for a vote on June 27.
Tenants that spoke with 1010 WINS’ Terry Sheridan expressed dismay about the possible increase.
1010 WINS’ Terry Sheridan Speaks With Tenants And Landlords On Opposite Sides Of The Issue
“Three years we haven’t gotten an increase in Social Security, but I got my rent increase. I don’t begrudge it, but you know…I expect to live a long time, so how much can this keep going up?” one woman said.
“The landlords just don’t care. They think the people are millionaires. We’re willing to pay, but they’ve gone crazy,” another woman remarked.
However, landlords had a very different take on the issue, saying they were unable to make money with such stringent rent regulations.
“I really think that the truth needs to come out. All these people that are paying $200 a month in rent and then screaming that they’re starving,” one landlord said.
“Imagine paying a $100 a month in rent. That hurts all the people that are paying their fair share,” said another man.
Landlords argue that thousands of people are paying under $299 a month.
Still tenants were quick to point out that with difficult economic times, any increase would prove detrimental.
“People pay a greater and greater percentage of their gross income for rent. And costs are going up, while income is not. So it’s basically a thing of survival,” one man said.
SOUND-OFF: Do you agree with the tenants or the landlords? Tell us in the comments section below…