RGB Likely to Extend Rent Freeze for One-Year Leases

On May 5, in a preliminary vote, the Rent Guidelines Board (RGB) voted 5 to 4 to consider freezing rents on one-year leases or letting owners raise them up to 2 percent. If the RGB votes to keep rents as is for another year, it would effectively extend the rent freeze RGB approved last summer. For two-year leases, the RGB is considering rent increases of 1 to 3 percent.