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Rent Guidelines Board approves hike on rent-stabilized leases, ignores calls for rent freeze

Summary by Abc 7 NY
Despite calls for a rent freeze, the Rent Guidelines Board approved a 3% increase for one-year rent-stabilized leases, 4.5% for two-year leases.

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The city’s Rent Rules Board voted Monday in a vote of 5 to 4, in favor of approving 3% rent increases for one-year leases and 4.5% for two-year contracts. The final vote comes after a month of debates and public hearings, during which tenants urged the board to freeze rents and landlords requested higher increases to offset the increase in operating costs. Assemblyman Zohran Mamdani, a virtual winner of the Democratic primary to the mayor’s offi…

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artandpopularculture.com broke the news in on Tuesday, July 1, 2025.
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