""Tonight, the board made a challenging decision to approve a preliminary range for rent-stabilized lease adjustments aiming to strike a balance between protecting the quality of rent stabilized homes as costs continue to rise without overburdening tenants with infeasible rent increases.""
""Freezing the rent would put $600 a month back in our pockets, so no one has to choose between rent and groceries.""
On April 30, 2025, the NYC Rent Guidelines Board proposed rent increases for tenants in rent-stabilized apartments after a contentious meeting. The proposed hikes range from 1.75% to 4.75% for one-year leases and 4.75% to 7.75% for two-year leases, impacting around 1 million apartments. Mayor Eric Adams criticized the potential 7.75% increase as unreasonable, highlighting the city's low 1.4% housing vacancy rate and ongoing affordability issues. As the June primary election nears, candidates and tenant advocates are pushing for a rent freeze to alleviate financial pressure on renters.
Read at BKReader
Unable to calculate read time
Collection
[
|
...
]