The Rent Guideline season continued to heat up this week with the release of Mayor De Blasio’s tax returns, showing he raised the rent on one of his apartments an average of 2.6% per year since 2009. No freeze there. CHIP offered testimony at an RGB meeting yesterday, noting that the Board hasn’t fully accounted for increased maintenance costs and new compliance requirements in older buildings.
Speaking of new compliance expenses, the Mayor, Wednesday, proposed requiring every building owner to adopt a formal smoking policy and notify tenants of the rules annually. The proposed regulation would create penalties for failing to create and disclose the policy, but none for tenants who violate it. A City Council hearing on the bill is scheduled Thursday.
The City Council, Monday, will hold a hearing on phasing out the use of #4 oil by 2025, five years earlier than the current 2030 deadline.
And Councilwoman Rosie Mendez is threatening to block development of a City-backed Union Square Tech Hub unless development heights are reduced on neighboring streets. She was apparently inspired by Councilman Corey Johnson’s recent successful trading of a zoning variance for creation of South Village Historic District. The trend doesn’t augur well for as-of-right development.
The latest tech tool you didn’t know you needed is an interactive map of apartment rents by subway stop. The map, created by Renthop, shows one-bedroom rents increased the most, year-over-year, around the Parkside stop on the Q train; and dropped the most near the 4/5/6 N/R/W 59th Street stop.
Meet 10,000 other owners and managers June 21-24th in Atlanta at the National Apartment Association Education Conference, featuring programs on everything from water management to leasing technology to business management. ABO members get the $150 member discount on registration.