Powered by

Rent Guidelines Board considers rent freeze or modest increases

May 10, 2021 - Crain's New York Business

The Rent Guidelines Board is considering not raising rates on rent-regulated units.

Last week the board cast a preliminary vote that was a blow to landlords who had insisted on rate increases of up to 5% to cover mounting building-related expenses and a partial victory for tenant advocates who said that rents shouldn't be raised at all during a pandemic. The board is now considering potential rent increases of zero to 2% on one-year leases and 1% to 3% on two-year leases.

The expecte...