Rent Hikes Approved for NYC's Rent Regulated Apartments
Thursday, May 06, 2010
New York, NY –
Tenants living in the city's 1-million rent-regulated apartments should prepare to see their monthly bills go up. The Rent Guidelines Board approved a preliminary series of rent hikes - between two and four percent for one year leases, and four to six percent hikes for two year leases.
The board gave preliminary approval to the increases by a vote of five to four. The board will hold public hearings before the final vote next month. Any increases would go into effect October 1st.