Board holds hearing to consider revote on proposed NYC rent hikes

Rent Guidelines Board votes to give 2-year rent-stabilized leases minor change

The Rent Guidelines Board held a rare revote on its preliminary decision to raise rents on nearly one million rent-stabilized apartments.

Board holds hearing to consider revote on proposed NYC rent hikes

NEW YORK (PIX11) – The Rent Guidelines Board is set to consider a revote on Tuesday on rent increases that will impact nearly 1 million New York City rent-stabilized apartments. The mayor-appointed board voted in favor of hikes of up to 4.75% for one-year leases and up to 7.75% for two-year leases back in April. Mayor Eric Adams released a statement after the vote, saying, “As much as 7.75% is too far unreasonable of a burden for tenants, especi…

Renters' Rights Bill to see big surge in tenants challenging rent rises

A majority of tenants will use the Renters’ Rights Bill as an opportunity to challenge rent increases, new research from leading estate agency group LRG reveals. The Q1 2025 Lettings Report from LRG found that 53% of tenants would contest a rent rise, with 28% saying they were ‘very likely’ to do so. However, the figures also show that nearly half of renters would not look to challenge a rent increase, a reflection, LRG says, of the fair pricing…