The Real Deal New York

Rent Guidelines Board postpones annual vote on increases

Delay attributed to Albany gridlock on rent regulations
June 23, 2015 12:35PM

With a hold-up in Albany over laws governing the state’s rent-stabilized apartments, the city’s Rent Guidelines Board postponed its annual vote on new rent levels to next Monday.

The board delayed the vote, originally scheduled for Wednesday, after uncertainty regarding whether it could make any decisions without state laws in effect.

Rent Guidelines Board chair Rachel Godsil said the body “thought it prudent to postpone briefly in the hope that issues in Albany will have been clarified,” according to the New York Times.

Regulations governing more than 1 million rent-stabilized apartments expired last week after the State Assembly and State Senate were unable to come to an agreement, forcing lawmakers to pass a temporary extension.

The board’s vote this year will be the first in which all nine members are appointees of Mayor Bill de Blasio. Last year’s vote saw historically low increases of 1 percent for one-year leases and 2.75 percent for two-year leases, while this year’s increase is expected to stay between 0 percent and 2 percent for one-year leases and 0.5 percent and 3.5 percent for two-year leases. [NYT] — Rey Mashayekhi