The new two-year leases for units with rent stabilization may increase by 5% as a result of the 5-4 vote of the board on Tuesday night. The vote comes a month after the rental council set the range for increases to 2 to 4 percent for one-year leases and 4 to 6 percent for two-year leases. Initially, officials had probably increased rents by up to 9 percent on two-year leases, resulting in a sharp push by the City Council. The mayor oversees all nine appointments, but has only named three members so far because they serve in steady terms. Mayor Bill de Blasio has often backed the zero percent increases approved by the Housing Council in 2015 and 2016. Rents set by the board affect one in three New York households. This is the largest rental increase for rental apartments in New York since at least 2013, when the board signed a 4 percent increase for a one-year lease and a 7.75 percent increase for a two-year lease. Mayor Eric Adams called the council’s rent guidelines “disappointing.” AP / Andrew Harnik Proponents of her case have been working to make the actual transcript of this statement available online. prices. “While we have raised our voices and managed to push the increases lower, the determination taken today by the Rent Guidelines Council will unfortunately be a burden on tenants at this difficult time – and this is disappointing,” Mayor Eric Adams said in a statement. which follows. the vote. The Community Housing Improvement Program, a property group, denounced the increase as too low. “The facts are clear. “The adjustment approved by RGB today will not put a penny of profit in the pockets of small property owners,” said Jay Martin, the group’s chief executive. “RGB has just taken steps to limit its losses for next year.”
