The Rent Guidelines Board is holding its final hearing tonight on proposed rent hikes.

Earlier in the day, tenants came out to the Great Hall at Cooper Union to give their input on the proposal.

Tenants say with oil prices down and unemployment at its highest levels in years, this is not the time to raise rents.

A rally was also held outside calling on the mayor to ask the board not to hike rents.

“People have lost their jobs, raises have been canceled and yet landlords are getting a raise. A hundred thousand apartments have been deregulated over then last 10 years since 1997, and the landlords are still crying poverty,” said New York City tenant Michael Jascz.

“A year and a half ago I had pneumonia and I was hospitalized due to lack of heat. They do not deserve an increase at all and many many other tenants are going through the same thing,” said New York City tenant Debbie Stevens.

The proposal calls for increases of two to four and a half percent for one-year leases and four to seven and a half percent for two-year leases.

The Board will hold its final vote at the end of the month, with any increases going into effect for lease renewals starting October 1st.

Source: NY1