New York City Council Could Benefit on Rent As It Seeks Control of Board

The New York Sun reports:

The City Council's efforts to gain more control over the board that oversees the city's rent-stabilized apartments stand to benefit Speaker Christine Quinn and the other council members who pay below-market rents for their apartments.

Critics of rent regulation say that if the council wins its fight and is allowed to confirm all mayoral appointments to the Rent Guidelines Board, the nine-member panel that sets annual rent increases for almost 1 million rent-regulated apartments in the city, the system would become overly politicized and qualified candidates would be reluctant to sit on the board.


Ms. Quinn, a likely candidate for mayor who has lived in a one-bedroom, rent-stabilized apartment in Chelsea since 1992, is leading the council's charge. She is backing a bill in the state Legislature that would restructure the board and require council approval of board members, deny rent increases for one year for any apartment with serious violations, and require the use of a landlord's income and expense information in determining whether a rent increase is warranted.

Some people really benefit from the un-free market in real estate in NYC.