The New York City Rent Guidelines Board voted 6-3 on Tuesday night in favor of raising rents for the 1 million New Yorkers who live in rent-stabilized apartments.

Renters on a one-year lease will face a 3 percent or $30 increase, while those on two-year leases will face a 6 percent or $60 increase – in both cases the actual amount will depend on which is more.

The response by the thousands of tenants in rent-controlled apartments was expected to be heated, especially inside the Cooper Union, where tenants and landlords attended side by side. The emotional political theater going on downstairs in the great hall will impact thousands upon thousands of people.

The recession has created the worst economic environment since the guidelines board was created in 1969. When the board began its work on this year’s rent structure a year ago, angry tenants blew whistles and shouted down the members, bringing the meeting to a halt. One woman passed out in all the excitement.

In previous sessions activists stormed the stage; landlords also pleaded for larger increases to cover renovations. No one ever seems to leave happy.

The board has never reduced or frozen rents in its 40 year history, and on Tuesday voted on the largest proposed hikes in two decades for the 1 million New Yorkers living in rent-stabilized apartments.

* One-year leases could have gone up as much as 4.5 percent.

* Two-year leases could have gone up as high a 7.5 percent.

Both sides were citing economic hardship.

(Source: WCBSTV)