New York City's rent guidelines board is proposing another rent increase.
The nine person board on Wednesday voted to set rent increases between one and three quarters of a percent and four and three quarters for one-year leases and between 4.75 percent and 7.75 percent for two-year leases. There will be public hearings on the matter before a final vote for increases to go into effect in October. The potential increases would impact about one million rent stabilized apartments. Tennent advocates are hoping for no rent increase. Landlords argue increases are needed to offset rising maintenance and repair costs.