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: Suffolk Police: Franklyn Charles, 18, Charged In Crash That Killed Jennifer Figueroa, 30, In Wyandanch
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: Alec Baldwin Was Told Gun Was "Cold" Before Fatal Movie Set Shooting, Court Records Show
Tenants had been pushing for rent reductions.MORE NEWS: Campaign 2021: Early Voting Begins In New Jersey And New York City
The move will affect roughly 2.3 million New York City tenants.