For the fourth consecutive year, New York City's Rent Guidelines Board is set to raise rents for tenants in rent-stabilized housing. The proposed increases range from 1.75% to 4.75% for one-year leases and 4.75% to 7.75% for two-year leases, with a final decision pending later this summer. Mayor Eric Adams criticized the hikes as unreasonable amid a housing crisis, while tenant organizers are mobilizing for change, potentially electing a new mayor focused on renters' rights and affordability as they prepare for upcoming votes.
"I must be clear that an increase as much as 7.75 percent is far too unreasonable of a burden for tenants, especially as our entire city is feeling the squeeze of a 1.4 percent housing vacancy rate and a decades-long affordability crisis. New Yorkers simply cannot bear these costs."
"We're going to win this the way we always do: by organizing tenants, packing every hearing, and making sure City Hall can't ignore us! Last night's preliminary vote is just the beginning."
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