The Rent Guidelines Board voted 5-4 to raise rents for rent-stabilized apartments citywide during a virtual meeting Thursday.
The preliminary vote indicated that landlords can increase rents between 2% and 4% for one-year contracts and between 4% and 6% for two-year contracts.
In the case of rent-stabilized lofts, the board voted to allow landlords to do the same: increase one-year rents by 2% to 4%, and 4% to 6% in two-year contracts.
The Legal Aid Society, which has called for a rent freeze, citing a crisis of evictions and homelessness, condemned the board’s vote.
“We condemn the Board for voting to raise rents for some of our most vulnerable neighbors, low-income people in communities of color, especially when New Yorkers are still reeling financially from the pandemic and the local unemployment rate remains one of highest in the country,” said Adriene Holder. “Tonight’s vote ignores that glaring reality.”
***Legal Aid Condemns Rent Guidelines Board’s Preliminary Vote to Increase Rents on Vulnerable New Yorkers***
Full statement from @AdrieneHolder: https://t.co/mvPvjXJBvP. pic.twitter.com/dKBkxkn9c4
— The Legal Aid Society (@LegalAidNYC) May 6, 2022
A final vote on possible increases is expected in June and will affect rents from October.
Even when the Board’s guidelines are for rent-stabilized apartments -close to one million in NYC-, such recommendations -or final decisions, as the case may be- are adopted by the rental market in general, that is, they end up being applicable to the rest of apartments in the city.
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