NEW YORK (PIX11) — Dozens of tenants in New York City’s rent-stabilized apartments are making their voices heard. On Monday night, they attended the first of four public hearings on the Rent Guidelines Board’s proposed increases for lease renewals. Last month, the board took an initial vote to hike rents by 2% to 5% on […]
Months after the promise of the largest rent hike in years, millions of New Yorkers are now subject to a new increase effective October 1. The NYC Rent.
The NYC Rent Guidelines Board voted 5-4 to raise rent for rent-stabilized apartments to 3.25% for 1-year leases and 5% for 2-year despite tenants already crippled amid the cost of living crisis.
With landlords facing higher costs for property maintenance, a rent regulation panel is expected to approve some of the largest increases for rent-stabilized units in nearly a decade.
The Rent Guidelines Board hosted several hearings leading up to the June 21st vote, which could raise rents for more than 1 million rent-stabilized apartments. Before the final one on Wednesday, tenants rallied outside in protest, calling for a rent rollback instead.