The New York City Rent Guidelines Board voted on Monday night to increase rates for rent-stabilized apartments.
By a 5-4 count, board members arrived at a 4.5% increase for two-year leases and a 3% hike for one-year leases, after considering raising rents between 3.75% and 7.75%, and 1.75% and 4.75%, respectively.
The board’s decision will take effect for leases between Oct. 1 of this year and Sept. 30, 2026.
Tenants vs. landlords
Earlier this spring, the Rent Guidelines Board held a preliminary vote where it agreed to the range of rent increases, only to later agree to consider lower-range increases for two-year leases…