Owners of rent-stabilized apartment buildings saw their net income grow 5.9 percent in 2001, according to a report from the city’s Rent Guidelines Board.
The release of the Income and Expense Study will kick off the annual debate over rent hikes on the city’s 1 million rent-stabilized apartments.
The 5.9 percent figure — based on the most recent data available — doesn’t take into account the 18.5 percent real estate tax hike in December or rising fuel and insurance costs.
Both sides are bracing for a tough fight this year as landlords seek double-digit rent increases and tenants lobby to keep hikes to a minimum.
Tenant advocates point out that landlords have seen a steady increase in profits and gotten rent increases in past years, even when their expenses dropped.
Last year, landlords got a 2 percent hike on one-year leases and a 4 percent increase on two-year leases.