Printer Friendly

Guidelines hearings continue in Westchester.

The Westchester rent guidelines board met last week to hear presentations by owners and tenants with regard to rents in 18 municipalities that have adopted the Emergency Tenant Protection Act.

Last year, the board adopted increases of 2.4 percent for one-year leases where the owner doesn't supply heat or hot water and 3.2 percent for two year leases. The standard lease with heat and hot water obtains raises of 3 percent and 4 percent. Owners will be pushing for higher rents to compensate for increasing expenses, particularly property taxes. Any new guidelines will go into effect for leases commencing Oct. 1.

The board is comprised of two tenant reps, two owner reps and five public members as it is in New York City.

Stephen McCulloch, an owner representative on the board, is a Houlihan & Parnes broker who concentrates on investment sales and mortgage placements. "It was a relatively brief meeting with only five or six tenants speaking," he recalled. While the tenants have an opportunity to talk about how their own finances are affected by the rents, McCulloch said, usually, they talk about issues that are not within the jurisdiction of the board, such as the Major Capital Improvement and the political parties. "This is an opportunity for tenants to voice their concerns about society in general," he noted. "They blame the homeless problem on the decisions of the guidelines board."

McCulloch said the guidelines board for the most part relies on income and expense data that owners are required to provide to the Division of Housing and Community Renewal.

"You've begun to see where the rise in income is gradually slowing because of the inadequate rent increases the board has granted," McCulloch noted. "The expenses have been going up consistently.

In the latest survey, 474 buildings responded representing approximately 13,700 units that are exclusively subject to stabilization laws. These apartments have an average rent of $585. According to the vacancy survey covering 1990 through 1992, apartments that rented for a median of $568, rented under a two-year lease for a median of $650 upon vacancy. This jump is due to the fact that upon vacancy, the owner is allowed to raise the rent to the highest comparable rent in the building or complex.

E. Herman, counsel to the Building and Institute of Westchester, said: "I can't tell you what the percentage increase would be that we will recommend to the board because we just received the tabulations and haven't had a chance to have them analyzed. Unfortunately, you have to wait for DHCR to publish them."

Another public hearing was to be held this Tues. July 20. Hearings will also be held July 27 at the Westchester Ceremonial Courthouse 111 Grove Street in White Plains from 7:30 p.m. to 10 p.m. The public meeting at which the board is expected to propose and vote on a guideline will take place on Tues., Aug. 3 from 7:30 p.m. to 10 p.m. at the same place. That meeting will be continued beginning at 7:30 p.m. the following day if necessary.
COPYRIGHT 1993 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:rent guidelines board convenes to hear opinions of owners and tenants regarding rents in Westchester County, New York
Author:Weiss, Lois
Publication:Real Estate Weekly
Date:Jul 21, 1993
Previous Article:Nelson Construction and Development Corp. has named Coldwell Banker Roohan Realty to head its marketing program.
Next Article:Kids chain hires consultant.

Related Articles
3% & 5%: Lowest rent hikes ever.
Rent regulation expires tonight: senators demand reform.
Rent hikes 'another nail in coffin.' (Rent Guidelines Board votes on lease payment increases)
Owners facing 4 more years of rent controls.
Westchester County passes 3%, 4% rent guidelines.
RGB approves guidelines.
Westchester, Fairfield rents reach apex in fourth quarter.
RGB proposes rent increases at 2% and 4%.
RGB rent increase challenged.
Industry must be vigilant to protect hard-fought gains.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters