On June 17th, 2024, the Rent Guidelines Board voted to raise rents on the city’s roughly 1 million regulated apartments. One-year leases will increase 2.75% and two-year leases will increase 5.25%. Howard Slatkin, the executive director of Citizens Housing and Planning Council, joined NY1 political anchor Errol Louis on “Inside City Hall” to discuss the increases as well as basement apartments, office to residential conversions, and City of Yes.
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“Emergencies don’t tend to go away unless you attend to them in a meaningful way. The fundamental emergency is there’s just not enough housing for everyone who needs it.”
“We have a big city – we have a million rent stabilized apartments, … people with all sorts of different incomes in those apartments, and buildings in all sorts of different financial circumstances. [It’s possible that] troubled buildings could be pushed over the edge by something like this. A tenant who hasn’t seen their income keep up with inflation, even though many tenants have, many tenants have not and those tenants are going to have a harder time. The hard part is that there’s no one number that’s going to fit all of the needs of all New Yorkers. This is a band aid and emergency patch for the housing affordability issue, and it’s not going to work for everyone.”
Watch the full segment at Spectrum News NY1.
