NYC Rent Guidelines Board freezes rents on 1-year leases
New York City’s Rent Guidelines Board took an unprecedented step Monday, voting for the first time to freeze rents on one-year leases for tenants in rent-stabilized apartments.
The vote came before a crowd of jubilant tenants and advocates, who cheered when it became clear the proposal would pass. The board voted to increase rents on two-year leases by 2 percent.
The city has more than 1 million rent-stabilized apartments, accommodating more than 2 million people.