NEW YORK (WCBS 880) — In the midst of the pandemic some, including Mayor Bill de Blasio, say the Rent Guidelines Board should institute a rent freeze on the roughly 1 million rent-stabilized units.
On Thursday night, board members took the first step in that direction with the preliminary vote to forgo an increase for one year leases.
The ruling was approved in a 5-4 vote.
The board suggested rents could possibly go up 1 percent on two year leases.
Landlords were looking for increases of at least 2.5 percent, arguing they are facing additional costs due to coronavirus. Tenant advocates were looking for a freeze or even a reduction in rent.
The final vote typically happens in June. Nothing has been scheduled yet.
Any higher rates would take effect in October.
In the meantime Mayor de Blasio is on record urging the board to consider the fact that many New Yorkers are in dire straits and need a rent freeze.
One protection for tenants is Gov. Andrew Cuomo's moratorium on evictions now extended to August 20th.