CBS2-Header-Logo WFAN 1010WINS WCBS tiny WLNYLogo

News

Guidelines Board To Vote In June On Rent Freeze For Some Regulated Apartments

TRI-STATE NEWS HEADLINES

From our newsroom to your inbox weekday mornings at 9AM.
Sign Up

NEW YORK (CBSNewYork/AP) — The New York City Rent Guidelines Board will take a vote in late June on whether to approve a rent freeze for some New York City residents with rent-regulated apartments.

On Monday, the board voted to consider 0 to 3 percent increases on one-year leases on rent-regulated apartments.

In a preliminary 8-1 vote, the board also agreed to consider 0.5 percent to 4.5 percent increases on two-year rents.

It was the first time that the board had considered a rent freeze.

Rent Stabilization Association Executive Vice President Jack Freund called the vote outrageous. The group represents 25,000 owners or managers.

“I believe there’ll be a 0 percent rent increase and a .5 percent rent increase for two-year leases. Every tenant in the city will then take a two-year lease. Owners will have no increase in income for two years,” Freund told 1010 WINS’ Carol D’Auria Monday.

Tenant representatives applauded the vote.

A final decision will be made on June 23, following public hearings in all five boroughs.

Check Out These Other Stories From CBSNewYork.com:

(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)