Rent-Controlled Tenants Face ‘Devastating’ Rate Hike

(DNAINFO) Amy Zimmer | November 17, 2015 — While their rent-stabilized counterparts are enjoying an unprecedented rent freeze, tenants of the roughly 33,000 rent-controlled units in New York City are about to face as much as a 7.5 percent rent hike.

Rent-controlled apartments, many of which are occupied by elderly New Yorkers, are governed by the state’s Division of Homes and Community Renewal (DHCR), unlike the city’s roughly 1 million rent-stabilized units which are overseen by the city’s Rent Guidelines Board.

DHCR, which is holding a hearing on the increase this week, is expected to pass a rent hike, provoking outrage among many housing advocates and those living in the rent-controlled apartments.

Source: Rent-Controlled Tenants Face ‘Devastating’ Rate Hike – Civic Center – New York