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NYC’s Rent Guidelines Board Votes To Allow Rent Increases In Stabilized Apartments

nycaptNew York City’s Rent Guidelines Board rejected a potential rent freeze in its meeting Monday.

The Board approved a 1% increase for 1 year leases and 2.75% for 2 year leases.

The board’s vote came at the Great Hall at Cooper Union.

It had never frozen rents for the city’s 1 million stabilized apartments.

Mayor Bill de Blasio urged the board to impose a freeze as part of his push for affordable housing.

His appointees now make up a majority of the board.

Landlords, not surprisingly, were against the idea. Many say their expenses are skyrocketing and without an increase, some may be forced to sell.


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