The Rent Stabilization Commission held its first meeting in months on Aug. 4, following the resignation of two of the Commission’s tenant representatives in April. It appears the return to business came none too soon, as the City Council heard updates on the Rent Stabilization Ordinance and the city’s stock of rent stabilized units, which currently sit at an 11% vacancy rate – up from 6.8% the year before.
“I’ve never seen it this high,” said Deputy Director of Rent Stabilization Helen Morales at the Aug. 3 Study Session. The uptick represents more than a 60% rise from last year.
