NYC Rent Guidelines Board approves rent freeze

A rent freeze has been voted into effect for this year, affecting more than one million rent-regulated tenants in the city.

A rent freeze has been voted into effect for this year, affecting more than one million rent-regulated tenants in the city.

A rent freeze has been voted into effect for this year, affecting more than one million rent-regulated tenants in the city. (6/28/16)

EAST FLATBUSH - A rent freeze has been voted into effect for this year, affecting more than one million rent-regulated tenants in the city.

The New York City Rent Guidelines Board approved another rent freeze Thursday at a rally in Manhattan.

The freeze is on one-year rent-stabilized leases and a 2 percent increase of two-year leases.

The vote follows last year's historic decision, in which the first rent freeze was voted into effect.

Advocates say they have wanted a rent rollback and that the rollback would allow struggling families to stay in their homes. However, landlords say rent increases are a necessity in order for them to keep up with taxes and other expenses.

Mayor Bill de Blasio says he approves of the vote.

“This year, the facts demanded a rent freeze. More than a million people will now have more security and a better shot at making ends meet," says Mayor de Blasio.

The changes are effective for leases from Oct. 1, 2016 through Sept. 21, 2017.

advertisement | advertise on News 12

Trending Video

1 Volunteers repaint Bronx River Community Center
News 12 The Bronx hit the streets to 2 Word on the Street: People who take selfies
Police say a 23-year-old man was shot inside 3 Police: Man shot inside Bronx barbershop
Human remains were discovered at a garbage transfer 4 Human remains found at Hunts Point waste station
Experts offer advice on reducing healthcare costs at 5 Tips to reduce health care costs

advertisement | advertise on News 12

More News

The city's Rent Guidelines Board voted to approve Rent Guidelines Board approves rent freeze

The city's Rent Guidelines Board voted to approve a rent freeze on one-year rent-stabilized leases

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE