NEW YORK (PIX11) – The final vote on potential rent hikes for millions living in New York City's rent-stabilized apartments will be held Monday night.
The Rent Guidelines Board could vote to increase rent as much as 4.5% for a one-year lease and 6.5% for a two-year lease. The rent was increased by 3% just last year.
Tenants, at a rally last month, said they couldn't take another rent hike during the city's housing crisis. Some building owners argued that with inflation, they're not turning a profit and need the money to keep the buildings going.
"A rent increase for me will mean an extra $115 in rent, my salary has not gotten up $115 a month," said Joanne Grell, a tenant.
If the rent hike goes into effect, it will start in October. Monday's vote happens at a public hearing at Hunter College and will also be streamed online.
The Housing Council is planning to protest outside the meeting against the rent hike.
Erin Pflaumer is a digital content producer from Long Island who has covered both local and national news since 2018. She joined PIX11 in 2023. See more of her work here.
English (US) ·