New proposal looks to increase rent-stabilized units to nearly 16%
A recent proposal is looking to increase what New Yorkers pay in rent-stabilized units up to nearly 16%.
The suggested increase by the Rent Guidelines Board is a 15.75% increase of two-year leases and this would make it the largest increase in decades.
While the percentage increase is not set in stone, several groups, like the New York Working Families Party that represent renters, have spoken out about the potential change saying it will only push more families to the edge and fuel homelessness.
The board will still need to host several public hearings between now and June. While the discussions will touch on rent-stabilized housing, it is still unclear how unstabilized units may be affected.