Rent Guidelines Board Could Freeze One-Year Stabilized Leases for New York City Once More

Rent Guidelines Board Could Freeze One-Year Stabilized Leases for New York City

On Tuesday, New York City's Rent Guidelines Board voted on preliminary increases in rent for the coming year for close to one million rent stabilized apartments in the city.

 

The tenants of rent-stabilized apartments in New York City might enjoy one more rent freeze in the year for leases that stretch for one, after the vote by Rent Guidelines Board members.

 

The nine member board voted five is to four to mull over a zero to two 2 percent hike on one-year leases. For the two year leases, it was 0.5 to 3.5 percent increase. The board will set sets its yearly guidelines for rent this summer for the rent stabilized homes offered in the city.

 

The range of rent freeze is similar to last year's. That was the first rent freeze in history of the board for the one-year leases. For the two year leases it also marked the lowest even hike of two percent.

 

Last year Mayor Bill de Blasio appointed all the nine board members. A spokesman for the mayor's office, Austin Finan, said "We're committed to establishing rent adjustments that are fair, grounded in the data, and that reflect real-life conditions in our neighborhoods."

 

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