Rent Freeze Averted—But Barely

New York City's Rent Guidelines Board has voted to raise rent on nearly a million regulated apartments, bypassing the mayor's appeal for a one-year rent freeze. In a 5-4 vote, the board voted to implement an historically small increase: Rents for one-year lease renewals will be raised by 1 percent, and by 2.75 percent for two-year leases. The rates are for renewals as of Oct. 1.