Rent-stabilized housing income falls for the first time in 20 years: report

For the first time in nearly two decades, the Rent Guidelines Board is reporting a decline in average net operating income among rent-stabilized properties in the city. A report released Wednesday states that NOI declined slightly by .6 percent from 2017 to 2018. It’s the first drop reported since the board’s analysis of income and expenses from 2002 to 2003. Rental income increased by an average 3.7 percent and total income by 3.6 percent. Operating

source https://therealdeal.com/2020/04/15/rent-stabilized-housing-income-falls-for-the-first-time-in-20-years-report/