NYC’s Rent Board Votes for Biggest Increase Since Bloomberg Administration

The nine-member Rent Guidelines Board (RGB) voted Tuesday to raise rents by 3.25 percent on one-year leases and by 5 percent on two-year leases, the highest increase for rent-stabilized apartments since 2013.

Adi Talwar

A Bronx residential building with rent-regulated apartments on the corner of West Mosholu Parkway North and Knox Place.

Tenants in New York City’s roughly 1 million regulated apartments are facing the biggest rent hike since the Bloomberg administration.

The nine-member Rent Guidelines Board (RGB) voted Tuesday to raise rents by 3.25 percent on one-year leases and by 5 percent on two-year leases, marking the highest increase for rent-stabilized apartments since 2013. That year, the last of Mayor Michael Bloomberg’s tenure, the board raised rents by 4 percent. Under Mayor Bill de Blasio, the board never raised rents by more than 1.5 percent and on three occasions froze rents for the only time in the five-decade history of rent stabilization.

RGB Chair David Reiss, a de Blasio appointee, introduced the proposal as tenants who had called for a rent freeze or rollback jeered in the auditorium at the Cooper Union, where the vote was held.

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