Rent Guidelines Board says buildings’ net income climbed by 6% #shorts

Zohran Mamdani’s Rent Guidelines Board says the average rent-stabilized landlord is doing just fine. The RGB just released its annual report on landlord profits and expenses, which finds that for NYC buildings containing rent-stabilized units, average Net Operating Income rose 6.2% from 2023 to 2024. Mamdani and tenant advocates say this bolsters the case for a rent freeze, while landlord representatives say the number is misleading.