New Yorkers could see rent hike following Rent Guidelines Board hearing
Members of the Federal Reserve made a landmark decision to raise its key interest rate by three quarters of a percentage point. This is the biggest rate hike New York City has seen since 1994.
News 12 Staff
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Jun 15, 2022, 5:18 PM
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Updated 672 days ago
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2ds agoNew Yorkers could see rent hike following Rent Guidelines Board hearing
A public hearing on the proposed rent hike from the Rent Guidelines Board took place Wednesday.
Renters could see a hike between 2% to 4% for one-year leases while two-year leases could see an increase from 4% to 6%.
New Yorkers across the city, tenant advocates and other organizations rallied to demand that the board roll back rent this year.
The board, which sets the rent for more than $1 million rent-stabilized apartments, is expected to vote on June 21 on a potential increase, one of the biggest jumps seen in a decade.
The final public hearing is scheduled for June 21 in Manhattan.
