The Rent Guidelines Board approved a 3 percent increase for one-year leases and a 4.5 percent hike for two-year leases amid strong opposition from both landlords and tenants. Landlords argued the increases were insufficient to cover rising costs due to taxes and bills, criticizing state policies. Tenants demanded a rent freeze, reflecting discontent with rising rents under Mayor Eric Adams' administration, which has seen a cumulative increase of 9 percent during his tenure. This polarized decision culminated in a contentious vote amidst public outcry.
Christina Smyth stated, "We understand that this is a very difficult decision, and that this board is put in a position each year to the utter failures of the state elected officials and the city government to address the high cost of housing and the abject lack of supply."
Genesis Aquino expressed, "I think we spoke clearly this year: We demanded a rent freeze, we elected a mayor who promised a rent freeze."
Collection
[
|
...
]