RENT STABILIZATION ASSOCIATION STATEMENT TO PROPUBLICA REGARDING NYC RENT
GUIDELINES BOARD’S PREFERENTIAL RENT DATA MEMO:
In response to your inquiry about the RGB’s June 1, 2017 Memorandum, we offer the following
statement:
“There is a very limited ability to increase preferential rents because they are market
rents. And why should only preferential rent tenants be asked to pay for ever increasing real
estate taxes and not the lucky 70% percent who pay below market rents?
Very few buildings get MCI rent increases and that income is dedicated to repaying the money
that owners invested to preserve affordable housing.
This year, with a 6.2% increase in operating costs and after two years of zero rent increases,
there is no way to avoid an across the board rent increase if only to pay for continued increases
in City real estate taxes.”