New York braced for rent hike

Click to follow
The Independent Online
Millions of New York apartment dwellers were braced for the worst last night as a midnight deadline approached for the expiration of 40- year-old rent stabilisation laws in the city. Last-ditch negotiations in Albany, the state capital, to resolve the crisis, were expected to go on into the night.

Without the curbs, landlords would in theory be free instantly to increase rents. The state Governor, George Pataki, passed emergency measures this weekend to prevent unfair harassment of tenants by landlords.