The 0-2% one year and .5-3.5% two year stabilized renewal guidelines proposed by the five ‘public’ members of the Rent Guidelines Board this week (all de Blasio appointees) are the same as last year’s proposals that led to a zero one year increase this year.
The Board has announced hearings on the guidelines June 9th in Queens, June 13th in Brooklyn, June 16th in the Bronx, June 20th in midtown Manhattan and the 21st in Harlem. The final vote will be June 27th.
A California jury, yesterday, decided that Carson City rent regulations were an unconstitutional taking because, in part, the increases did not cover the owner’s cost of debt service. Neither does the New York City Price Index of Operating Costs.
Developers wanting to market condos in New Jersey and Florida, among other states, to New Yorkers, will no longer have to duplicate expensive and time consuming engineering reports or escrow deposits in New York. The New York State Attorney General’s office, yesterday, adopted a new policy of accepting reports from States with comparable consumer protections when sales plans are registered.
Where have prices for single family homes risen fastest in the nation since 2004? Bedford Stuyvesant, according to the Washington Post. The median home price in zip code 11216 has risen 194% to more than $1 million, but median income in the neighborhood is only about $44,000, the Post reported.
ABO members have until May 20th to submit rebate forms for their January thru March purchases of eligible products from Delta, Lutron, Carrier, Boise Cascade and dozens of other manufacturers.