NYC’s Rent Guidelines Board Vote on Rent Increase

Photo: Bahadirkar/Getty Images

The Bad News is Your Rent is High, and the Other Bad News is It is It is up to get higher. The Rent Guidelines Board, Which Sets Rent Increasses Annually for Rent-Stabilized apartments, voted On the final Number Last Night, Raising Rents by 2.75 Percent for One-Yaar Lease and 5.25 Percent for Two-Yaar Lease, Starting in October. (In April, The Nine-Person Board already voted in favor of preliminary ranges between 2 and 4.5 percent for one -ear lease and 4 and 6.5 percent for two -ear leases.)

Under Bill de Blasio’s Administration, The Board Froze Rents for Three Different Years – The first time in the Board’s History – to Help Provide Relief for Tenants, Including During the First Year of the Pandemic. But Since Eric Adams Took Over, Rent Increas have been approved every year, with the board voting in 2023 for an Increase of 3 percent for one -ear lease and 2.75 Percent for the first year and 3.2 Percent for the Second Year of two -ear Leases. (The Year before Saw Increasses of 3.25 and 5 Percent.) This Spring, The Two Tenant Memories of the Board Walked out in protest of yet another round of proposed increas, casting a vote of no confidence. “I’ve been at this for three years now, and each years the book has made the decision to the stove tenth by raising rents significantly,” Tenant Adán Solren said at the time. “You wonder why some people People call it ‘rent increes board.’” At Last Night’s Vote, Tenants Protest Outside the Venue, and A Number were arrestted.

Meanwhile, Rent-Stabilized Landlords, As Usual, Had Called for Increas on the Higher End, CLAIMING THAT THEY NEESSARY TO AVOID FINANCIAL DISTRESS AND TO KEEP UNITS Online. (Still, Only One Owner Applied for a City Pilot That Wauld Give Rent-Stabilized Landlords Up to $ 25,000 per Unit for Repairs.)

For Tenants, Remain Extremely High, and There are Very Few Vacant apartments At the bottom of the market, meaning that units new yorkers can actually affford are increasingly nonexistant. Raising Rents on the City’s 1 Million Stabilized Units Will Only Make All of this Worsse. Maybe, InsTead, The Board Could Have Taken Inspiration from Up The River, Where Kingston’s Board actually voted them decrease rents by 15 percent. The Rent Decrease Board Has a nicer Ring to it, do you think?

This post has haen updated.