Dear New Yorkers, Landlords will be able to hike rents by 3% later this year for more than one million rent-stabilized apartments. By a 5-4 vote at the Hunter College Assembly Hall on Wednesday evening, the Rent Guidelines Board approved a maximum rent increase of 3% on one-year leases, and a maximum rent increase of 2.75% in year one and 3.2% in year two on two-year leases. The increases — slightly lower than last year’s — will apply to leases signed on or after Oct. 1 on rent-stabilized apartments, which represent almost half of all rental units in the city. Read more here.
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