NYC rent board votes to increase rents in regulated units
The board approved a 1 percent increase for one-year leases and a 2.75 percent increase for two-year leases. Credit: Getty Images
Rents will be on the rise again for the 1 million rent-regulated apartments in the city this fall.
The Rent Guidelines Board voted Monday to increase rents 3.75 percent for one-year leases and 7.25 percent for two-year leases. The increases kick in Oct. 1 and last for one year.
A separate proposal to add a 1 percent rental surcharge to cover the rising cost of heating oil was not voted on.
Initially, the 2.5 million renters in the Big Apple who are covered by rent-stabilized laws faced as much as a 5.75 percent increase for one-year leases and up to 9 percent for two-year leases. Building owners say the increases are needed to cover rising operational costs.
'I've never seen fire sitting on the water' Three Newsday photographers talk to NewsdayTV's Macy Egeland about covering the tragic crash of TWA Flight 800 in 1996.
'I've never seen fire sitting on the water' Three Newsday photographers talk to NewsdayTV's Macy Egeland about covering the tragic crash of TWA Flight 800 in 1996.
