NYC’s Rent Guidelines Board Approves Hike for Rent-Stabilized Apartments by Up to 4.5%

New York Post

New York City’s Rent Guidelines Board approved a rent hike of up to 4.5% for New Yorkers living in the Big Apple’s nearly 1 million rent-stabilized apartments.

In a narrow 5-4 vote Monday night, the board approved a rent increase of 3% for 1-year leases and 4.5% for 2-year leases that start on or after Oct. 1.

The final increase is notably higher than what Mayor Eric Adams — who appointed all nine board members, including two tenant representatives and two landlord representatives — had pleaded for ahead of the final vote.

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