On Tuesday, de Blasio, who appointed the board and called for a rent freeze when he was a City Hall candidate, said the better deal might be the two year lease.
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The board also approved an increase of two percent on two-year leases, providing more stability for long-time renters. Rent is, by far, the number one cost in our lives.
The Board meets every year, and he said it’s unclear what the rate will be next year. An additional Rent Guidelines Board report released in May 2016 cites Mayor Bill de Blasio’s ten-year housing initiative to increase affordable housing options for New Yorkers.
Real estate investors have argued that a rent freeze puts a damper on the city’s multifamily investment sales market, as there over 1 million rent-stabilized apartments in the city – almost half of the city’s rental stock. Two represent tenants, two represent owners and five are members of the public. “We urge the state attorney general to launch an investigation into de Blasio’s improper and unlawful influence on the RGB – and the RGB advancing the mayor’s political agenda”.
Last night, the NYC Rent Guidelines Board voted for a zero percent increase on one-year lease renewals for rent-stabilized apartments.
Meanwhile, the city continues to crack down on landlords who failed to register their buildings as rent regulated after collecting lucrative 421-a tax abatements, despite being legally required to do so. Tenant members suggested a drastic rent cut. The changes are effective for leases from October 1 of this year through September 31 of next year.
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A rent hike is on the way for some New Yorkers.
