Millions of New Yorkers’ rent may be increasing by up to 5%

Millions of New Yorkers' rent may be increasing by up to 5%

New York City rent may be the highest it’s ever been, and millions of New Yorkers may soon have to pay more for their current apartments.

The Rent Guidelines Board (a group of nine people appointed by the mayor) on Tuesday, May 2, passed a preliminary first vote on lease changes for rent-stabilized apartments in New York City. The vote, which was divided 5-4, approves rent increases of 2-5% for one-year leases and 4-7% for two-year leases.

Over a million rent-controlled and rent-stabilized apartments are occupied throughout the five boroughs, meaning millions of New Yorkers may be faced with imminent rent increases. These apartments are owned by private landlords, not New York City itself.

“While we are reviewing the preliminary ranges put forward by the Rent Guidelines Board this evening, I want to be clear that a 7% rent increase is clearly beyond what renters can afford and what I feel is appropriate this year,” Mayor Eric Adams said following the vote. “I recognize that property owners face growing challenges maintaining their buildings and accessing financing to make repairs; at the same time, we simply cannot put tenants in a position where they can’t afford to make rent.”

Rent Stabilization has been in place since 1969, as a way to prevent rents from skyrocketing. Rent Control is a slightly different policy that entitles tenants who’ve continuously been in the same unit prior to 1971 not to need a new lease, and continue paying their original rent, with limited increases and eviction protection.

Many have voiced dissent against the proposed rent increases, which will face a final vote in June. 

“This proposed increase is an insult to the nearly 50% of tenants in New York City who pay half their monthly income to rent. Saddling working-class New Yorkers with another rent hike in these uncertain economic times is tantamount to theft,” tweeted NYC council member Shahana Hanif. 

With over half of New Yorkers already unable to afford the average cost of living in this city and a very limited minimum wage increase proposed by 2026, the proposed increase comes at a challenging time for many. 

* This article was originally published here

Howard U. picks African diaspora scholar as next president

Howard University (93811)

WASHINGTON (AP) — Howard University is turning to an experienced scholar of the African diaspora to serve as its new university president.

Ben Vinson III, currently the provost at Case Western Reserve University in Cleveland, will officially take over as president from the retiring Wayne Frederick on Sept. 1. Vinson is a historian specializing in studies of the African diaspora, particularly in Latin America.

His appointment comes at a crucial time for the historically Black university; the venerable institution is riding a wave of national prominence, with illustrious alumni, major funding boosts and high-profile staff additions.

Vinson called the Howard position, “the honor of a lifetime,” in a statement put out by the university.

“Howard’s incredible legacy, its remarkable trajectory, combined with the fine talent of its faculty and staff, situate Howard at the uppermost echelons of higher education,” he said.

Vinson grew up partially in the D.C. area and graduated from high school in neighboring Alexandria, Virginia. His list of academic roles includes senior positions at Johns Hopkins University in Baltimore and George Washington University in Washington.

“I look forward to returning to the DMV (the greater D.C. area), which I consider home, and working with the broader campus community to fortify Howard and help build upon its incredible tradition of delivering excellence, truth, and service to greater humanity,” he said.

Long one of the jewels of the Historically Black College and Universities network, Howard is enjoying a season of plenty. High-profile alumni like Vice President Kamala Harris and the late “Black Panther” actor Chadwick Boseman have brought fresh prominence and rising enrollment numbers. Major benefactors like NBA star Steph Curry and MacKenzie Scott, the ex-wife of Amazon founder and Washington Post owner Jeff Bezos, have come to Howard with significant donations.

The university has also leveraged its prominence to secure a string of headline-grabbing faculty members. Two of America’s most prominent writers on race relations, Nikole Hannah-Jones and Ta-Nehisi Coates, joined the university in 2021, and famed actress and Tony Award winner Phylicia Rashad now heads the College of Fine Arts.

The post Howard U. picks African diaspora scholar as next president appeared first on New York Amsterdam News.

* This article was originally published here