Rent Guidelines Board
The New York City Rent Guidelines Board has voted rent can go up 4 percent on one-year leases and 7.75 percent on two-year leases on rent-stabilized apartments.
Under the proposal, a one-year lease could see a rent increase from 3.25 percent to 6.25 percent. A two-year lease could go up from 5 percent to 9.5 percent, according to the rent board.
Saying the Rent Guidelines Board is stacked against renters, politicians and tenants rallied on the steps of City Hall Monday in support of state measure that would give the City Council veto power over the mayor’s nominees on the board.
Hundreds of New York City residents filled Cooper Union on Monday night to fight against rent increases for rent-stabilized apartments. But their wishes would go unfulfilled.
The board agreed to put a 3 to 5.75 percent increase on one-year leases and a 6 to 9 percent spike on two-year leases up for a vote on June 27.