A sharply divided Rent Guidelines Board voted to increase rents for the city’s nearly 1 million rent regulated apartments by 3.25% in the coming year in a decision that satisfied neither tenants nor landlords. The proposal put forward by Board [...]
The proposal put forward by Board Chair David Reiss passed by only 5 to 4. It also raised rents by 5% on two-year leases.
Landlord groups, who have pointed to increased costs for property taxes, insurance, water and sewer service and insurance, immediately blasted the increase as hopelessly inadequate, noting the original staff proposal called for increases as high as 4.5% for one-year leases. “The fact that members of this board began earnestly asking, more than once, ‘Well are tenants really struggling that badly?’ is illuminating enough,” he said. “Who asks that during an ongoing pandemic, when inflation is at 8%, with homelessness and evictions at record levels?”
Adams, who promised in March to let the data dictate what the board decided, tried to distance himself from the decision. He again took credit for the board’s decision to adopt a lower rent increase than recommended by the board’s staff.
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NYC Rent Guidelines Board votes to increase rents of rent-stabilized apartmentsIt is official. Rents are going up. The city's Rent Guidelines Board voted in favor of hikes Tuesday night that will impact nearly 1 million rent-stabilized apartments. KevRincon has the story.
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NYC Rent Guidelines Board votes to increase rentsThe Rent Guidelines Board voted to raise rents on one- and two-year leases on the city's 1 million rent-stabilized apartments and lofts. Find out by how much lease renewals are going up.
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NYC rent board approves steepest hikes since Bloomberg eraNYC's 2.4 million rent-stabilized tenants will see increases increases of 3.5% for one-year leases and 5% for two-year leases after the Rent Guidelines Board on Tuesday approved the biggest single-year increases in nearly a decade.
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