The head of the city board that sets rent hikes for a million New Yorkers has resigned – putting landlords and tenants on alert for who Mayor Bloomberg appoints to replace him.

Marvin Markus, a municipal finance expert, oversaw the Rent Guidelines Board’s raucous annual meetings to set increases for rent-controlled and rent-stabilized apartments during all of Bloomberg’s eight years in office.

The board approved 3% hikes on one-year leases last year, despite the recession, drawing hundreds of angry protesters to Markus’ final meeting.

“His resignation will be effective at the end of February, and we are in the process of searching for a new chair,” said Bloomberg spokesman Andrew Brent. “The cycle for the Rent Guidelines Board begins in March.”

“I think it’s an important job, and I was happy to do it,” Markus said. “I was proud to serve the city, and I wish my successor good luck.”

Markus previously chaired the board for five years under Mayor Ed Koch.

Markus has said he believes the city’s rent-setting process is flawed – and has been pilloried by angry tenants as a tool of real estate interests.

“We don’t call him ‘Marvin Markup’ for nothing,” said Michael McKee, executive director of advocacy group Housing Here and Now. “Marvin takes the position that rent stabilization is bad for landlords.”

Source: NY Daily News Continue reading this article here