NYC housing board votes to raise rent on stabilized apartments

People gather for a rally protesting rent hikes at City Hall Park on April 28, 2022 in New York City. Various housing organizations and tenants from across the city gathered to protest the proposed rent increase for stabilized apartments by the Rent Guidelines Board and demand a rent rollback. The city says that there are about 966,000 apartments throughout the five boroughs that are rent-stabilized who will see an increase in rent if recommendations are accepted. The Rent Guidelines Board will take a preliminary vote on May 5th. With public hearings and a final vote expected at the end of June.
People gather for a rally protesting rent hikes at City Hall Park on April 28, 2022 in New York City. Various housing organizations and tenants from across the city gathered to protest the proposed rent increase for stabilized apartments by the Rent Guidelines Board and demand a rent rollback. The city says that there are about 966,000 apartments throughout the five boroughs that are rent-stabilized who will see an increase in rent if recommendations are accepted. The Rent Guidelines Board will take a preliminary vote on May 5th. With public hearings and a final vote expected at the end of June. Photo credit Michael M. Santiago/Getty Images

NEW YORK (1010 WINS) -- The New York City Rent Guidelines Board voted on Thursday to increase the cost of rent for rent stabilized apartments.

Rent for 1-year leases will increase by between 2-4% and 2-year leases will increase by 4-6%.

The board had initially proposed an increase of as high as 9% for 2-year leases.

City Council leadership opposed an increase, but board members are appointed by the mayor.

“With the eviction moratorium and other protections expired, it is unconscionable to propose a rent increase of up to 9% for renters, which would only exacerbate the housing and homelessness crises confronting our city,” said City Council Speaker Adrienne Adams in April.

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Mayor Eric Adams has appointed three of the nine board members. He refused calls to publicly oppose the proposal.

About 80,000 people including roughly 20,000 children are homeless in New York City, according to a 2021 City Council report. The report identified increased rent and a lack of affordable housing as partial causes of homelessness crisis in New York City.

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Featured Image Photo Credit: Michael M. Santiago/Getty Images