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Message from RSA President, Joseph Strasburg

Rent Guidelines Board

I want to thank all the RSA members who participated in this year’s rent guidelines process, especially those who testified at the RGB Public Hearings and attended the meeting of the Final Vote. While the new guidelines are the lowest since 2002, they could have been lower if the RGB had not heard from many RSA members about how difficult it is to operate stabilized property in New York City, the most highly regulated rental market in the country. However, the Board’s actions were dictated by a low Price Index, the apparent continued profitability of stabilized housing and the legal handcuffs preventing the Board from continued minimum rent increases.

It is crucial that the members of the Rent Guideline Board hear the owners’ side of the story every year. And, next year again, our success will largely depend on the active participation of the RSA membership.

The Capital of Unpredictable

As we go to press, Albany is once again in disarray. The budget is over 90 days late and there doesn’t seem to be any palpable solution to completing the process. Governor Paterson vetoed thousands of spending items from the Legislature’s $136 billion budget, even as Senate Democrats left Albany for the July 4th holiday without passing a vital revenue bill needed to finish off the spending plan.

The vetos were designed to follow through on Paterson’s vow to quash an estimated 6,900 spending provisions added to the budget by a defiant Legislature this week, including $600 million in school aid and thousands of legislative pet projects known as member items.

The situation in the State Senate changes hourly and, as we go to press, there does not appear to be a clear answer about how the Senators will work out their differences and finish the budget. Many key pieces of legislation hang in the balance including the package of rent regulation bills passed by the Assembly earlier this year.

The legislative package includes a measure that would limit individual apartment improvement rent increases to 1/84th of the cost of the improvement A.5316A/Silver). Currently, the increase is set at 1/40th. The bill would also create an approval process for the Division of Housing and Community Renewal for these increases.

Another bill would repeal vacancy decontrol laws that permit landlords to remove apartments from regulation by charging rents at or above $2,000 per month or would increase the deregulation threshold (A.2005/Rosenthal).
Some housing industry representatives have already declared victory in Albany this year, but the threats continue to linger. Now, more than ever, RSA members must become active and stay engaged in the processes that affect your livelihood. Your involvement will be essential as we approach the uncertain conclusion of this year’s legislative session and going forward. If you have not done so already, please sign-up for our e-mail list you so that we can keep you informed during the summer months.