amNY: Going up: Rent Guidelines Board approves rent hikes on city’s stabilized units
The Rent Guidelines Board voted Monday evening to increase the rent for the city’s nearly one million rent-stabilized apartments, a decision that appeased neither smaller landlords nor tenant activists.
Stabilized renters with one-year leases can expect a 3% hike in their rents, while those with two-year leases will see rents climb 4.5%.
In a 5-4 vote, the nine-member board—composed of two landlord representatives, two tenant representatives, and five public members appointed by the mayor—approved the increases, which will take effect for leases issued or renewed on Oct. 1, 2025.