RGB Proposes Lease Renewal Adjustments

The Rent Guidelines Board (RGB), a nine-member panel that sets annual rent increases for rent-stabilized apartments, met on May 1 to vote on preliminary numbers for increasing rent-stabilized rents. The board voted for rent hikes of between 1.75 and 4 percent on new one-year leases and increases of between 3.5 percent and 6.75 percent for two-year renewal leases.

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