New York’s Rent Guidelines Board voted on June 21 to hike rent for about 1 million rent-stabilized apartments in the city’s largest rent increase in nearly a decade, estimated to affect more than 2 million tenants.
At a contentious June 21 public meeting that saw tenants plead for another freeze and landlords call for hikes, the Rent Guidelines Board ultimately voted 5–4 to raise rents on regulated units by 3.25 percent on one-year leases and by 5 percent on two-year leases.
