The city’s Rent Guidelines Board is floating a range of rent increases for rent-stabilized apartments between 2.7% and 9%, after releasing data showing landlords’ operating costs have risen 4.2% since April 2021.
The range, announced Thursday, is preliminary. The board will release an official recommendation next month, with a final vote to determine the change in rents in June.
The proposed increase in rents for new, one-year leases was between 2.7% and 4.5%, and between 4.3% and 9% for new, two-year leases.
Landlord groups say the proposed increases are not high enough—last month, the RGB released data showing landlords of rent-stabilized apartments lost 7.8% of their operating
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