The Mayor of New York has introduced his three newly-appointed members of the Rent Guidelines Board, who replaced three members previously appointed by the former City Mayor Michael Bloomberg. Crain's New York Business reports that the new members are Helen Schaub, K. Sabeel Rahman, and Scott Walsh.
New York Times reports that Ms. Schaub is New York State director of policy and legislation, representing 300,000 social and health care workers in the state.
Mr. Rahman is a fellow teaching at Brooklyn Law School and has been an adviser to the city regarding several issues concerning economic and financial regulatory policy.
Mr. Walsh is an architect and vice president for development at Forest City Ratner Companies, a major builder with a Pacific Park project in Brooklyn. Schaub, Rahman and Walsh will be working with the other nine members who were retained in their position.
The main duty of the Rent Guidelines Board is to determine the appropriate rent for close to 1 million apartments across the city of New York under the Rent Stabilization Law. This is a gruelling task because the two sides -- the landlords and the tenants -- are hoping that the decision will favor them.
However, now, it seems there is also a third side, which is Mayor de Blasio. Last year, Mayor Bill de Blasio, called for a rent freeze, says Crain's New York Business. His move was perhaps to make the two sides be at least, content and happy.
Unfortunately, neither side seemed happy with his public call. The board members ultimately decided and have voted to the smallest recorded rent increases in the history of the New York Rent Guidelines Board. The board only allowed increase for one-year leases by 1% and for two-year leases, only up to 2.75%, notes Crain's New York Business.
And it seems that not everyone's pleased.
The landlords are almost absolutely sure that this year's price increase is not happening. Jack Freund, the Vice President of the Rent Stabilization Association, says."We presume he'll try again for a rent freeze," Mr. Freund said, "with greater success," as noted by Crain's New York Business.
Schaub and Rahman are public members. Walsh is their voice in the Rent Guidelines Board. With two of the members from the public side, and only one from their side, they think that the Mayor has a higher chance to achieve his goal this year.
The Rent Stabilization Association is a group of 25,000 owners of rent-regulated apartments who are also not happy with the prize freeze. The owners say, with zero percent increase, it will be hard for them to maintain the building they own.
There will be all kinds of repairs that they must do to make their places retain its liveable conditions. "There are others to consider like property taxes and water and sewer costs for building owners.. they continue to increase", says Freund as reported by Crains New York.
The tenants are were also rallying outside, demanding for a price decrease before the meeting.
