Fellow New Yorkers –Tonight, for the first time in its half-century history, the NYC Rent Guidelines Board voted for a zero percent increase on one-year lease renewals for rent-stabilized apartments. The board also approved an increase of two percent on two-year leases.This is a historic moment. A rent freeze will have a very tangible and fundamental impact on the lives of New Yorkers.
For the more than one million New Yorkers living in rent-stabilized apartments whose leases expire this year, tonight’s decision means real relief. For more information on what this decision means for you and your family, read this quick explainer:
The Rent Guidelines Board based tonight’s decision on months of research into the costs and pressures facing owners and tenants alike, and on the voices of New Yorkers who engaged in the Rent Guidelines Board’s public process.
My administration and I are firmly committed to keeping New York City affordable. If you are a victim of tenant harassment or displacement, or if you have further questions about this update, please call 311. If you are a building owner, the City has tools to help you modernize your building and lower costs. We are committed to maintaining the financial health of our affordable housing. Call 311 to learn more.