We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
On May 5, the Rent Guidelines Board (RGB) held a preliminary vote on rent increases for rent-stabilized apartments. The chair’s proposal passed by five votes, allowing for 0 to 2 percent increases for one-year leases, 0.5 to 3.5 percent for two-year leases, and 10 percent for sublets. This year’s preliminary vote follows last year’s record low increases. Last year, the board voted to raise rent by 1 percent for one-year lease renewals, and 2.75 percent for two-year renewals.
