Rent Increase Approved for Regulated Apartments in NYC After Vote
With inflation hitting New Yorkers hard, the Rent Guidelines Board approved a rent increase for regulated units.
Rent will go up 3.25% for 1-year leases and 5% on 2-year leases for rent-stabilized units. The hike was approved in a 5-4 vote. Around 1 million apartments will be impacted.
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