In a surprising repeat vote, the New York City Rent Guidelines Board revised the proposed rent increases for two-year leases down to 3.75% to 7.75%, impacting nearly 1 million affected apartments. The decision reflects ongoing pressure amid a politically charged atmosphere in the lead-up to the mayoral primaries. Though the board maintained the one-year lease increase range, not all members were satisfied, citing the need for greater affordability measures. Voices from the tenant community continue to advocate for more radical approaches, like a rent freeze.
Tenants in New York are really struggling right now. I think the data is reflecting that.
The only reasonable rent hike was no rent hike at all.
Board Chair Doug Apple described as an 'additional review of evidence.'
Mamdani has vowed to appoint tenant-first board members if elected.
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