Rent Vote Could Bring NYC First Rent Freeze in Decades

Sunday, June 22, 2014

An unprecedented rent freeze is on the table (David Amsler/flickr)

The Rent Guidelines Board will vote Monday night on whether to allow landlords of rent-regulated buildings to raise rent.

The board is considering 0.5- to 4.5-percent increase on two-year leases after October 1, and a zero- to three-percent hike on one-year leases.

A rent freeze would be a first in the Board’s 46-year history.

Supporters of a rent freeze say it would provide some relief to low-income New Yorkers who struggle to pay their rent.

But the landlords of rent-stabilized apartments warn they won’t be able to service their buildings if tenants don't pay more.

Last year the Rent Guidelines Board allowed a 4-percent increase for one-year leases.

Mayor Bill de Blasio called for a rent freeze during his mayoral campaign. Currently, five of the nine members on the board were appointed by him.


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Comments [1]

Pat Alexander from NYC

Right. If a rent freeze ever happens in NYC I'll eat my camera, my computer and this entire brownstone.

Jun. 22 2014 09:31 PM

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