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(New York, NY) — New York City’s rent guidelines board is giving a little more flexibility for rent increases on two year leases on the city’s one million rent stabilized apartments.
The board took a rare revote Tuesday (May 27, 2025) on the two year lease range, calling for a three-point-75 percent to seven-point-75 percent increase. The previous vote last month had four-point-75 percent on the lower end. The board voted to keep one year leases the same as the previous vote with a range of one-and-three-quarters of a percent to four-and-three-quarters of a percent.
The board meets again June 27th to finalize the rent increases which would start going into effect in October.
One-million New York City apartments are impacted with renters saying, with hikes like that, they’d be priced out of their homes.
