Landlords, renters debate stabilized rent hike


After a preliminary vote last month to raise rents on stabilized units, renters and landlords spoke out about the New York City Rent Guidelines Board’s next step at a public hearing yesterday. The first vote allowed a 2 to 4 percent annual increase for one-year lease renewals and 4 to 6 percent for two-year renewals, according to Fox News, but the final vote on June 24 will ultimately determine how much rents will rise on the approximately 1 million rent stabilized units across the city.

Sign Up for the undefined Newsletter