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Article: RBG OK's hike.(Rent Guidelines Board (RGB))(Brief Article)

Article from:
Real Estate Weekly
Article date:
June 28, 2000
Author:
Copyright

Owners: Oil prices disregarded.

Tenants: Increase is ridiculous.

If the popular adage that general displeasure is a standard of fairness in negotiated settlements, then the decision last week by the Rent Guidelines Board (RGB) was right on the mark, but don't tell either Jack Freund or Michael McKee.

Freund, the executive vice president of the Rent Stabilization Association was blunt: "We feel that the Board failed to consider that the increase in oil prices is likely to last until next winter. The fact is that operating costs for landlords are going to increase, and we have to cover those costs."

For his part, McKee, associated ...

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