NEW YORK (PIX11) — Tenants in around 1 million apartments and homes in New York could soon see increases in their rent.
The Rent Guidelines Board voted Thursday for 2-4% increases on 1-year leases and 4-6% increases on 2-year leases in for rent-stabilized units. The 5-4 vote was a preliminary one with a final round of voting to come in June.
The Rent Guidelines Board’s vote for hikes was condemned by the Legal Aid Society. Attorney-In-Charge of the Civil Practice Adriene Holder said it could hurt vulnerable New Yorkers.
“We condemn the Board for voting to increase rents on some of our most vulnerable neighbors, people from low-income communities of color, especially when New Yorkers are still reeling financially from the pandemic and the local unemployment rate remains one of the highest in the country,” Holder said. “Tonight’s vote ignores that blatant reality.
The RGB had originally recommended rent increases of 2.7 to 4.5 percent on one-year leases for rent-stabilized units and 4.3 to 9 percent on two-year leases. They found building operating costs jumped 4.2 percent in the last year.
Rent in regulated apartments was frozen in 2020. In 2021, the board voted on a partial freeze.
In late April, the Rent Stabilization Association, which represents 25,000 owners and managers of around 1 million rent-stabilized apartments in the city, proposed a rent increase of 4.5 to 6 percent on one-year leases for rent-stabilized units and 7 to 9 percent for two-year leases.
“Our proposed rent increases factor in the current negative inflation trends that will only continue to rise, and they would reverse years of the RGB deliberately ignoring rent adjustments commensurate with its own data and reports,” RSA Vice President of Communications Vito Signorile said at the time.
Mayor Eric Adams has appointed three members to the Rent Guidelines Board. His most recent appointment was Adán Soltren.
“In New York City, we cannot afford to put our affordable housing at risk,” Adams said when he announced Soltren’s appointment. “My administration is focused on using data to inform decisions, and I am confident that all of my appointees will faithfully evaluate the data they are presented and make an informed decision about how best to protect the city’s affordable housing.”
