News
Landlords Did Well in 2006
by Cindy Rodriguez
NEW YORK, NY April 16, 2008 — A report issued by the Rent Guidelines Board shows rent stabilized landlords did better in 2006 compared to the prior year.
According to records collected from landlords, rental income increased 5.6 percent in 2006.
Neighborhoods such as Central Harlem and East Harlem in Manhattan, Sunset Park and Park Slope in Brooklyn and Astoria and Woodside, Queens saw some of the largest jumps.
The average monthly rent charged in 2006 was $907 citywide. The cost of operating a building grew at a lower rate, 4.1 percent, with taxes being the largest expense for building owners.
The report is one of six used by the Rent Guidelines Board when determining rent increases for about 1 million rent stabilized apartments.
A preliminary vote by the board is scheduled for May 5.
For WNYC, I'm Cindy Rodriguez.
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