Latest news with #rentstabilization
Yahoo
11-07-2025
- Politics
- Yahoo
Salinas campaign to keep rent stabilization passes first hurdle
A grassroots campaign made up of hundreds of volunteers reached their goal of collecting 10,000 signatures to keep rent stabilization and other tenant protections in Salinas. Protect Salinas Renters delivered boxes filled with signed petitions to the city clerk on Thursday, July 3, for an initial count and assessment, the first step in a process that could end with the hotly debated issue going before Salinas voters. "This is an incredible grassroots movement that the community really supported," said Salinas City Council Member Andrew Sandoval, who was part of the last city council that initially brought forward and passed the four tenant ordinances. Sandoval and council member Tony Barrera were the two dissenting votes when an ordinance to repeal the rent stabilization and associated laws was passed last month, spurring the signature gathering campaign. Sandoval, who supported the campaign, called the mobilization of over 200 volunteers in a month historic for the city of Salinas and the ripple effects of which would be felt for some time. "You know, we got people to register to vote. We got people to recognize the importance of voting. There's just so much good that's going to come out of this," said Sandoval. "I think this showed that the people ultimately have the power to make decisions, despite these elected officials." Organizers said their team collected 10,607 signatures, roughly 300 more needed to trigger action by the Salinas City Council members, who can decide to keep the four tenant ordinances in place or put the matter on the ballot. "We are just so proud and grateful that the community has come together in such a quick way," said Matt Huerta, tenant advocate and Salinas resident. "This is what over 10,600 signatures by concerned residents of Salinas looks like and we're very proud to work with over 200 volunteers and to continue the process of maintaining these renter protections." On Thursday afternoon, the city clerk completed the raw count and delivered the signatures to the Monterey County elections official for validation, which the department has 30 days to complete. The city clerk determined the campaign had collected 9,939 signatures, about 42% above the baseline of 7,000 required. This means, that for now, rent stabilization remains in place in Salinas. Huerta said with all the challenges confronting communities like Salinas, they were unsure if they could meet their signature goal. "People are really struggling right now — not only renters but homeowners, business leaders and those in education — we are under assault by our federal government, and we have very big challenges at the state level," said Huerta. "Our regional and local governments are the last support systems that we can really count on, and that is what this is also about — making sure that our local government works for the people." Note to readers: If you appreciate the work we do here at The Californian, please consider subscribing yourself or giving the gift of a subscription to someone you know. This article originally appeared on Salinas Californian: Salinas campaign successful in delaying repeal of rent stabilization
Yahoo
11-07-2025
- Politics
- Yahoo
Salinas rent stabilization still in effect amid repeal delay, city officials say
Salinas rent stabilization program is still in effect, city officials announce on Thursday. While the Salinas City Council passed an ordinance to repeal rent stabilization and associated tenant-related policies in June, a successful signature-gathering campaign has delayed the repeal. "As the four rent-related ordinances are again effective, landlords and tenants of rental units should be aware they are once again subject to those ordinances and must comply with the requirements and restrictions of those ordinances," city officials said in a press release. The four ordinances are the Rent Stabilization, Tenant Protection and Just Cause Eviction, Tenant Anti-Harassment and Rental Registration policies. On July 3, grassroots community group, Protect Salinas Renters, delivered boxes of signed petitions to keep the four original tenant ordinances in place to the Salinas City Clerk for a raw count. After the initial assessment the city clerk determined the campaign collected 9,939 signatures. Under the Elections Code, the petitioners had to gather signatures from at least 10% or 6,998 of the total number of Salinas registered voters (69,985), per a statement by the city clerk. After meeting this initial threshold, a delay in the repeal process was triggered. The signed petitions were then submitted on July 3 to the Monterey County Registrar of Voters who will determine whether the petition contains the requisite number of valid signatures. The county has 30 calendar days, excluding weekends and holidays, to complete the verification of signatures. If it is determined that the petition has a sufficient number of valid signatures, the city clerk will bring the referendum petitions to the city council at the next regular meeting following receipt of the county elections officials' determination for certification of results, per the city clerk. The city council would then consider the referendum petition at that meeting and will consider its options, including putting the referendum up for vote in a special election, or the June 2, 2026, primary election. This article originally appeared on Salinas Californian: Salinas rent stabilization still in effect, say city officials
Bloomberg
01-07-2025
- Business
- Bloomberg
NYC's Rent-Stabilized Apartment Prices to Rise at Least 3%
Tenants in New York City's roughly 1 million rent-stabilized apartments will face a fourth straight year of price hikes. The city's Rent Guidelines Board on Monday in a 5-4 vote approved a 3% price increase for one-year leases that renew during the year beginning Oct. 1. Prices for two-year leases will rise 4.5%.
CBS News
30-06-2025
- Business
- CBS News
NYC Rent Guidelines Board votes for 4.5% increase on 2-year leases, 3% on 1-year leases
The New York City Rent Guidelines Board voted on Monday night to increase rates for rent-stabilized apartments. By a 5-4 count, board members arrived at a 4.5% increase for two-year-leases and a 3% hike for one-year leases, after considering raising rents 3.75% and 7.75%, and 1.75% and 4.75%, respectively. The board's decision will take effect for leases between Oct. 1 of this year and Sept. 30, 2026. Tenants vs. landlords Earlier this spring, the Rent Guidelines Board held a preliminary vote where it agreed to the range of rent increases, only to later agree to consider lower-range increases for two-year leases. Tenants in rent-stabilized apartments rallied Monday ahead of the crucial vote, calling on the board to adopt the smallest increases. Landlords said they shouldn't have to eat the cost of rising costs for maintenance, insurances and taxes, but tenants told CBS News New York neither should they. "Operating expenses are rising. Rents have to rise to meet those increased expenses, or else you're defunding the buildings and defunded buildings lead to distressed buildings, which leads to a reduction in the quality of housing," said Ann Korchak, board president of Small Property Owners of NY. "I've been in my building for 16 years. What happened to the money that they got from me for my rent? What happened to the money? What did they do? Did they [go] on vacation? Did they buy another building?" wondered Mercedes Escoto. Rent hike or freeze a key issue in NYC mayor's race The mayor appoints the nine-member board, and the question of a rent increase had become a major issue in the mayoral race. Queens Assemblyman Zohran Mamdani declared victory in the Democratic primary last week on promises to freeze the rent for the entirety of his term. Mamdani's success is expected to made official Tuesday, when the Board of Elections will release its ranked choice voting result, which is expected to show him crossing 50%, and therefore winning. Mayor Eric Adams, who is seeking re-election but is running as an independent this time, had sympathized with the plight of landlords, but also made it clear in a statement on social media he didn't want to see tenants have to deal with higher increases. "One of the largest costs on kitchen tables each month is rent, and right now, New Yorkers are feeling the squeeze of a historically tight housing market with a 1.4 percent vacancy rate. That is why I am urging the Rent Guidelines Board to adopt the lowest increase possible," Adams said. "But let's be clear, demands to 'freeze the rent' are short-sighted and risk worsening already deteriorating housing conditions -- putting tenants' health and safety in harm's way. This would be disastrous for the quality of rent-stabilized homes, making it impossible for owners, particularly small property owners, to put money back into their buildings, make repairs, and maintain their buildings."
Bloomberg
30-06-2025
- Business
- Bloomberg
More Than 5,000 Rent-Stabilized NYC Apartments Face a Funding Crunch
Funding to maintain thousands of rent-stabilized apartments in New York City owned by landlord Joel Wiener is in limbo after a federal judge denied a request to tap income belonging to its major lender, Flagstar Bank. Judge David S. Jones ruled Sunday that lawyers overseeing more than 5,000 apartments connected to Wiener's Pinnacle Group couldn't use rental income to cover operating costs because they didn't provide enough proof that Flagstar's financial interest was protected. The properties — facing foreclosure and saddled with more than $564 million in debt — were put into Chapter 11 bankruptcy in May.
