Op-ed: New York City’s Rent Guidelines Board should freeze rents
Originally published in
City & State
In this City & State opinion column, Senator Myrie and Council Member Antonio Reynoso argue in favor of a city-wide rent freeze on rent stabilized apartments.
In just a few weeks, New York City’s Rent Guidelines Board will make a decision that will have far-reaching consequences for the thousands of rent-stabilized tenants throughout the city. After a series of votes and hearings, the board will decide whether or not to issue a rent freeze for rent-stabilized units citywide. May 7’s preliminary vote will determine whether a rent freeze is an option.
As representatives of two low-income, majority-minority districts, we know that affordable housing is a lifeline that thousands of residents cannot afford to lose. We urge the board to enact a rent freeze.
In black and brown communities like the ones we have the honor to serve, rent stabilization is vital. According to the Community Service Society, rent-regulated housing is the most common form of housing for people of color in New York City, and it protects more low-income households from displacement than all public and subsidized housing combined.
The security offered by stabilized housing allows immigrant and low-income communities of color like ours to earn college degrees, start businesses, raise families and otherwise contribute to society.
But all too many rent-stabilized tenants are struggling. Most of these tenants pay more than a third of their income on rent, and a third of them see half of their income disappear every month in the form of a rent check.
We urge the board to do right by our city, our tenants and our communities. Freeze the rent.