Click here for a holiday treat, every day from PIX11

NYC Rent Guidelines Board votes to increase rent on 1, 2-year leases

NEW YORK — The New York City Rent Guidelines Board voted 7-2 to increase rent 1.25 percent on one-year rent-stabilized leases and a 2 percent increase on two-year leases.

The ruling affects approximately 1.6 million New Yorkers in rent stabilized apartments.

“We will never go back to the days when the landlord lobby got big rent hikes regardless of what the data said," Mayoral spokesperson Melissa Grace said. "Taken together, the past four years have seen the lowest guidelines in history – including the first two freezes ever – and a historic court ruling affirming the importance of tenant affordability in this equation. We will continue to fight to keep this city affordable, and build on an important platform that helps to protect New York families, including funding free universal legal services for all low-income tenants facing harassment or eviction and advancing the most new and preserved affordable housing in a generation.”