Rent Guidelines Board votes in favor of raising rent for stabilized apartments

The city's Rent Guidelines Board has voted to raise rents for stabilized apartments. The board approved a 1 percent increase for one-year leases and a

The board approved a 1 percent increase for

The board approved a 1 percent increase for one-year leases and a 2.75 percent increase for two-year leases. (Credit: Getty Images)

NEW YORK - The city's Rent Guidelines Board has voted to raise rents for stabilized apartments.

The board approved a 1 percent increase for one-year leases and a 2.75 percent increase for two-year leases.

Tenant and advocate groups had pushed for a rent freeze. Many protested and testified during public hearings last week in hopes of swaying the vote.

The decision impacts roughly 1 million tenants throughout the five boroughs who live in rent-stabilized apartments.

More on this topic

advertisement | advertise on News 12

Trending Video

A 21-year-old woman died after being shot in 1 Police: Woman fatally shot inside Bronx stairwell
News 12 the Bronx hit the streets to 2 Word on the Street: Paying for reserved parking
Word on the Street: Airline dress code 3 Word on the Street: Airline dress code
A 21-year-old woman died after being shot in 4 Police: Woman fatally shot inside Bronx stairwell
Crossfit isn't just for the gym, according to 5 Ready, Set, Fit: Crossfit at home

advertisement | advertise on News 12

More News

A new proposal leaves open the possibility of Hearing held on possible rent hikes

Bronx tenants asked for a rent freeze on rent-stabilized apartments during a public hearing at

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