Rent Guidelines Testimony June 13,2013

SPONY was invited to give testimony to the RGB on Thursday, April 25th about the lack of sufficient rent increases, year after year, to help small owners. Members of the Board expressed an appreciation of the plight of the small owner. We can only expect higher guidelines if owners come out and testify. The Board voted last night (April 30th) for preliminary increases as follows:

For a one year renewal: range 3.25 to 6.25 %

For a two year renewal: range 5 to 9.5 %

The special guideline: greater of 30 % above the MBR or the HUD FMR.

The more owners that show up, the better our chances are for the highest increases possible. THIS IS YOUR BUSINESS. IF YOU DON’T TAKE AN INTEREST IN IT, WHO WILL?

Even if you can’t speak, come and support other owners by just showing up. This year there is only one day of public testimony. The Board has informed us that if you plan to attend the hearing on June 13th in the evening, you need to register by 7:00 PM in order to speak.


PUBLIC HEARING Thursday, June 13th…starts at 10 AM, Emigrant Savings Bank Bldg., 49-51 Chambers St., between Broadway and Centre St.

FINAL VOTE , Thursday, June 20th, 5:30 PM, COOPER UNION, 7 East 7th St.

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