NYC’s rent council is voting for the largest increase since the Bloomberg administration

The nine-member rent council (RGB) on Tuesday voted to raise rents by 3.25 per cent on one-year leases and by 5 per cent on two-year leases, the highest increase for rent-stabilized flats since 2013.

Adi Talwar

A Bronx residential building with rented apartments on the corner of West Mosholu Parkway North and Knox Place.

Tenants in New York City’s approximately 1 million regulated apartments are facing the largest rent increase since the Bloomberg administration.

The nine-member rent council (RGB) voted on Tuesday to raise rents by 3.25 per cent on one-year leases and by 5 per cent on two-year leases, marking the highest increase for rent-stabilized flats since 2013. That year was the last year. of Mayor Michael Bloomberg’s tenure, the board raised rents by 4 percent. Under Mayor Bill de Blasio, the board never raised rents by more than 1.5 percent and on three occasions the rent froze for the only time in the five-decade history of rent stabilization.

RGB chairman David Reiss, a de Blasio nominee, presented the proposal when tenants who had called for rent freezes or rollbacks mocked in the Cooper Union auditorium where the vote was held.

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