NEW YORK (CBSNewYork) — New York City’s Rent Guidelines Board has voted to allow a rent increase.
The decision will permit rent hikes of up to 1.5% for people living in rent stabilized apartments.READ MORE: No Mask Mandate In NYC Though De Blasio 'Strongly Recommends' Wearing Them; Cuomo Announces MTA, Port Authority Workers Must Be Vaccinated By Labor Day Or Face Testing
That’s only for the second six months of a one-year lease. On two-year leases, the second-year rate can rise by as much as 2.5%.READ MORE: Governors Ball Drops Rapper DaBaby From Lineup Over Homophobic Remarks
Tenants had been pushing for rent reductions.MORE NEWS: Child Tax Credit: Monday Is Deadline To Opt Out Of Advance Monthly Payments
The move will affect roughly 2.3 million New York City tenants.