NYC board votes for increases for rent-stabilized apartments
NEW YORK CITY (PIX11) –The New York City Rent Guidelines Board passed a preliminary vote Tuesday for increases for rent-stabilized apartments.
Rent could be increasing for millions of New York City tenants by 2 percent to 4.5 percent for one-year leases and 4 percent to 6.5 percent for two-year leases. The proposed increases would go into effect on Oct. 1.
“Our team is taking a close look at the preliminary ranges voted on by the Rent Guidelines Board this evening and while the Board has the challenging task of striking a balance between protecting tenants from infeasible rent increases and ensuring property owners can maintain their buildings as costs continue to rise, I must be clear that a 6.5 percent increase goes far beyond what is reasonable to ask tenants to take on at this time,” Mayor Eric Adams said on Tuesday.
A final vote is set to take place on June 17.
The Rent Guidelines Board approved another wave of rent hikes last year, after months of deliberations and contentious meetings with the public.
Charline Charles is a digital journalist from Brooklyn who has covered local news along with culture and arts in the New York City area since 2019. She joined PIX11 News in 2022. See more of her work here.
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