Thousands of New Yorkers are bracing for a rent increase.
The Rental Rules Board will hold a final vote tonight to approve increases for rent-stabilized apartments.
The Board is considering a rent increase from two percent to 4 point 5 percent for one-year leases.
For two-year leases, the board is considering an increase from four to 6 point 5 percent.
This would affect about one million rent-stabilized apartments in the city.
The board held its last public meeting on this proposed increase last Tuesday. Tenants say they can’t afford another rent increase, especially now that there is a housing shortage in the city.
On the other hand, landlords and their advocates say rent increases are necessary to help maintain their buildings and cope with their rising costs.
After tonight’s final vote, tenants would see rent increases for signed leases starting October 1st.
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