RGB Issues Rent Freeze Amid Pandemic

The RGB freezes one-year renewal rents and sets a partial freeze for two-year renewals.

 

On June 17, in a 6 to 3 vote, the city’s Rent Guidelines Board (RGB) decided to freeze rents for rent-stabilized tenants with one-year leases. For two-year renewal leases, a 1 percent increase is allowed during the second year.

The freeze is the third one during Mayor de Blasio’s tenure. The first two occurred in 2015 and 2016 for one-year leases. This last vote was the first time the board approved a freeze for any portion of two-year leases.

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