The New York City panel that decides annually if and how much rents can go up for almost one million rent-stabilized apartments is expected to vote in favor of increases on one-year leases for the fifth straight year.
The panel, the Rent Guidelines Board, is meeting in Manhattan on Wednesday evening for a preliminary vote on rent proposals. Landlords and several housing experts have said that rising insurance, fuel and other costs are making it difficult to maintain apartment buildings.
A final vote is expected within the next two months. Any increase would affect leases starting on or after Oct. 1.