NYC Rent Board approves 2.75%-5.25% rent increases for rent-stabilized apartments, sparking tenant-landlord debate.

NYC Rent Board approves 2.75% rent increase for one-year leases, 5.25% for two-year leases on rent-stabilized apartments, sparking tenant-landlord debate amid a million households affected. The decision comes amid fervent protests from tenant advocates who had pushed for a rent freeze. Landlords had sought a 4.5% increase. Concerns over tenant affordability and landlord sustainability are highlighted.

June 23, 2024
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