Rent Board Votes on Increases for One Million Rent-Stabilized Apartments

The Rent Board held a preliminary vote on increases for tenants in approximately one million rent-stabilized apartments.

Tenants were vocal about high rents even though the board tried to approve their preliminary decision, at a public meeting at LaGuardia Community College last night.

They are considering an increase of 2 to 4.5 percent in a new one-year lease.

And a 4 to 6.5 percent increase in rent for a two-year lease.

Members voted for the range of possible increases at yesterday’s meeting after hearing public input from New Yorkers.

The field is only a starting point; A tie vote will be held in June to finalize the status.

Although this range is not yet official, according to the board’s records the final increase is likely to be within the range established during the preliminary vote. The new rental prices would affect leases signed after October 1.

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