Tag

Rent Hike

All articles tagged with #rent hike

housing22 days ago•7 min saved

Tracey Towers Tenants Brace for 31% Bronx Rent Hike Amid NYC Freeze

In the Bronx, Tracey Towers, an 871-unit Mitchell-Lama complex, faces a proposed 31% rent increase over four years to cover aging infrastructure and mortgage arrears, even as New York City imposes a two-year rent freeze on most rent-stabilized units. City officials say the adjustment is legally required to cover costs, with some tenants (seniors and disabled) potentially exempt; repairs are planned, underscoring the financial strain on Mitchell-Lama housing compared with the stabilized rental stock.

via Gothamist|

#affordable-housing #bronx #housing

real-estate1 month ago•23 min saved

SF Family Faces Displacement After 90% Rent Spike in Richmond District

A San Francisco family in the Richmond District faces displacement after a 90% rent increase—from $3,695 to $7,000—following a change in ownership that the new owner says exempts the unit from protections; advocates say loopholes in rent-control laws enable such spikes, underscoring the city’s ongoing housing affordability crisis.

via New York Post|

#displacement #real-estate #rent-control

finance3 years ago•4 min saved

US Financial News: Social Security, SNAP, and Inflation Updates.

The US Department of Justice has compensated victims of a Walmart gift card scam with nearly $4 million. The New York City Rent Guidelines Board has approved a 3% rent hike for rent-stabilized apartments. Mortgage rates have slightly dropped, but middle-income homebuyers still face housing shortages. The Supplemental Nutrition Assistance Program (SNAP) has seen an increase in participants since the pandemic. Many Americans are not prepared for retirement expenses. Federal Reserve Chair Jerome Powell has stated that interest rates are likely to continue increasing this year.

via AS USA|

#finance #mortgage-rates #rent-hike

business3 years ago•1 min saved

NYC Rent Board Considers 16% Increase for Rent-Stabilized Apartments.

The NYC Rent Board may allow landlords to increase rents by nearly 16% for regulated apartments over the coming year due to the dramatic spurt of inflation last year. The board is not bound by the recommended numbers in the staff reports and could adopt higher or lower rent hikes. Progressive activists and City Council lawmakers are pressuring Mayor Eric Adams and his appointees to the board to discard the findings and opt for a lower package of rent hikes.

via New York Post |

#business #housing #inflation