RGB Freezes One-Year Renewal Rents, Sets Two-Year Increase at 2 Percent
On June 29, in a 7 to 2 vote, the city’s Rent Guidelines Board decided to freeze rents for rent-stabilized tenants with one-year leases. This had never been done before in the board’s 46-year history. With the rent freeze, Mayor de Blasio delivered on a campaign promise to freeze one-year rents for a year, to make up for what he regarded as excessive rent increases approved in the past. In addition to the 0 percent increases for one-year leases, a 2 percent increase was agreed upon for rent-stabilized tenants with two-year leases.