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