Rent Guidelines Board adopts partial rent freeze

The Rent Guidelines Board, which determines the rates for the city’s rent-stabilized apartments, voted for a partial rent freeze Wednesday night with rent increases on longer leases. 

The adoption of the new guidelines was a major blow to landlord groups that had insisted on increases closer to 5% to cover the rising costs of building maintenance and property taxes, and renters who had asked for rollbacks and rent freezes because of the pandemic’s financial pressures. 

In June last year, rents for leases signed between Oct. 2020 and Sept. 2021 were frozen, but beginning in October of this year, rents will be frozen for the first six months of a new one-year lease then go up

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