Rent Guidelines Board

Rent to increase for NYC’s one million stabilized apartments for third year in a row

Photo courtesy of Maxim Pierre on Flickr

June 18, 2024

Rent to increase for NYC’s one million stabilized apartments for third year in a row

Rent is going up for about one million regulated apartments in New York City. The Rent Guidelines Board on Monday approved rent hikes of 2.75 percent for one-year leases and 5.25 percent on two-year leases. The increase will affect the leases of about two million New Yorkers and marks the third year in a row that rents on stabilized apartments will increase.
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Policy

Rent Guidelines Board backs rent hikes on NYC’s stabilized apartments for third year in a row

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May 1, 2024

Rent Guidelines Board backs rent hikes on NYC’s stabilized apartments for third year in a row

By Devin Gannon

In a preliminary vote on Tuesday, the Rent Guidelines Board (RGB) backed rent hikes for New York City's roughly one million rent-stabilized apartments for the third year in a row. The nine-member board, appointed by the mayor, approved with a vote of 5-2 a motion to increase rents between 2 percent and 4.5 percent on one-year leases and between 4 percent and 6.5 percent on two-year leases. The two members of the board representing tenants abstained from voting and walked out of the meeting in protest. A final vote on the rent adjustment takes place in June.
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Policy

Rent hikes between 2.5% and 7% recommended for NYC’s stabilized apartments

Image courtesy of Brandon W on Unsplash

April 19, 2024

Rent hikes between 2.5% and 7% recommended for NYC’s stabilized apartments

By Aaron Ginsburg

Rent for millions of New Yorkers living in rent-stabilized units will likely increase for the third year in a row. The Rent Guidelines Board on Thursday released an annual report recommending a 2.5 percent to 4 percent rent hike for one-year leases and a 4 percent to 7 percent rent hike for two-year leases in rent-stabilized buildings, based on the rising costs of building maintenance, which jumped roughly 4 percent from April 2023 to March 2024. A public meeting will be held on April 25, followed by a preliminary vote on the proposed rent increases on April 30.
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Policy

NYC’s stabilized apartments to see rent hike for second year in a row

Photo by Patrick Tomasso on Unsplash

June 22, 2023

NYC’s stabilized apartments to see rent hike for second year in a row

By Aaron Ginsburg

Rent will increase for the roughly two million New Yorkers who live in rent-stabilized apartments for the second year in a row. On Wednesday, the Rent Guidelines Board, the nine-member panel responsible for adjusting rent for the city's rent-stabilized apartments, voted 5 to 4 in favor of raising rents on one-year leases by 3 percent and on two-year leases by 2.75 percent for the first year and 3.2 percent for the second year. The rent increases apply to leases starting October 1, 2023.
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Policy

Rent increase between 2% and 5% likely for NYC’s stabilized apartments

Photo by Avi Werde on Unsplash

May 3, 2023

Rent increase between 2% and 5% likely for NYC’s stabilized apartments

By Devin Gannon

The roughly two million New Yorkers who live in rent-stabilized apartments will likely see rents go up by the largest percentage in 10 years. In a preliminary vote on Tuesday, the Rent Guidelines Board, a nine-member panel responsible for adjusting the cost of rent for stabilized apartments, approved increases on one-year leases between 2 and 5 percent and increases on two-year leases between 4 and 7 percent. A vote determining the final increases will take place in June; the board historically has adopted rent hike proposals that fall within the preliminary range.
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Policy

NYC board weighs biggest rent hike for stabilized apartments in nearly two decades

Image courtesy of Maxim Pierre on Flickr

April 21, 2023

NYC board weighs biggest rent hike for stabilized apartments in nearly two decades

By Aaron Ginsburg

The panel that determines the percentage landlords are allowed to raise the rent for the roughly one million rent-stabilized apartments in New York City this week discussed a proposal for the most significant hike in nearly two decades. During a meeting on Thursday, the Rent Guidelines Board weighed a proposed 8.25 percent increase for one-year leases and a 15.75 percent increase for two-year leases, as Patch reported. While the board likely won't approve the nearly 16 percent increase, rent hikes are still expected in response to a drop in operating income for landlords.
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Policy

A majority of NYC’s rent-stabilized tenants spent over a third of income on housing last year

Image courtesy of edwardhblake on Flickr

April 14, 2023

A majority of NYC’s rent-stabilized tenants spent over a third of income on housing last year

By Aaron Ginsburg

Most of New York City's one million rent-stabilized tenants paid roughly a third or more of their income on rent in 2022, a new report found. According to the city's Rent Guideline Board's annual "Income and Affordability Study" released on Thursday, more than half of tenants in stabilized apartments spent at least 32.2 percent of their income on rent, as Gothamist first reported. Tenants who spend more than 30 percent of their income on rent are considered rent burdened, according to federal guidelines.
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Policy

NYC’s stabilized apartments will see rent increases of 3.25% and 5%

Photo by Avi Werde on Unsplash

June 22, 2022

NYC’s stabilized apartments will see rent increases of 3.25% and 5%

By Devin Gannon

More than two million New Yorkers who live in rent-stabilized apartments could see their rent increase by the largest percentage in a decade. The Rent Guidelines Board on Tuesday voted to approve a 3.25 percent increase for one-year leases and 5 percent for two-year leases that start on or after October 1. For the roughly one million rent-stabilized apartments, the rent hikes are the highest seen in the city since 2013.
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Policy

Rent Guidelines Board set to approve biggest rent hike for NYC’s stabilized apartments in a decade

Photo by Emiliano Bar on Unsplash

May 6, 2022

Rent Guidelines Board set to approve biggest rent hike for NYC’s stabilized apartments in a decade

By Aaron Ginsburg

Millions of New Yorkers could soon be hit with the biggest rent hike in a decade. In a preliminary 5-4 vote on Thursday, the city's Rent Guidelines Board (RGB) voted to increase rents on stabilized apartments between 2 and 4 percent for one-year leases and between 4 and 6 percent for two-year leases. If approved, the rent hikes would be the largest since 2013 when there was a 4 percent increase for one-year leases and a 7.75 percent increase for two-year leases. A final decision by the board is expected in June.
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Rent Guidelines Board recommends increases between 2.7% and 9% for rent-stabilized units

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April 14, 2022

Rent Guidelines Board recommends increases between 2.7% and 9% for rent-stabilized units

By Aaron Ginsburg

The city's Rent Guidelines Board on Thursday released a report recommending a rent hike for rent-stabilized apartments due to an increase in operating costs for landlords over the last 12 months. According to the agency's 2022 Price Index of Operating Costs report, owners saw costs rise by 4.2 percent. Using three formulas, the board recommended an increase in rent of between 2.7 percent and 4.5 percent for one-year leases and between 4.3 percent and 9 percent for two-year leases. The suggested rent increase comes after the board voted to not raise rents for six months last year and fully freeze rents in 2020.
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Rent Guidelines Board adopts partial rent hike for NYC’s rent-stabilized units

By Devin Gannon

Rents at New York City rent-stabilized apartments will freeze for six months and then increase by 1.5 percent for the next six months, under the proposal adopted by the Rent Guidelines Board (RGB) on Wednesday. The unusual guidelines are meant to serve as a compromise between tenant activists who called for a rent freeze and landlords who wanted increases, as the city continues to recover from the coronavirus pandemic.
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Policy

NYC freezes rent for stabilized apartments

Photo by Goh Rhy Yan on Unsplash

June 18, 2020

NYC freezes rent for stabilized apartments

By Devin Gannon

The Rent Guidelines Board on Wednesday voted to freeze rents for one year for rent-regulated apartments, offering tenants temporary relief in the current economic recession caused by the coronavirus. The nine-member board approved a measure that freezes rent for one-year leases and for the first year of two-year leases, which can increase 1 percent during the second year.
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Policy

What you need to know about the May 1 rent strike

Photo by Avi Werde on Unsplash

April 30, 2020

What you need to know about the May 1 rent strike

By Devin Gannon

With more than a million New Yorkers out of work as a result of the coronavirus pandemic, many tenants will struggle to pay rent on Friday. Hoping to pressure Gov. Andrew Cuomo to cancel rent for the duration of the health crisis, a coalition of housing advocates is leading a statewide rent strike on May 1, with thousands of renters already pledging to skip payments. But landlords, who argue rental income pays for the growing costs of building maintenance, are fighting for relief themselves.
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Rent Guidelines Board recommends increases between 2.5% and 3.5% for rent-stabilized units

Photo by Goh Rhy Yan on Unsplash

April 24, 2020

Rent Guidelines Board recommends increases between 2.5% and 3.5% for rent-stabilized units

By Devin Gannon

A report released on Thursday by the Rent Guidelines Board recommends a rent increase on rent-stabilized apartments to mitigate a surge in operating costs for owners. During the board's first virtual meeting, members reviewed the report, which says rent increases should be between 2.5 and 3.5 percent for one-year leases and 3.3 and 6.75 percent for two-year leases. The recommendation comes as officials and tenant advocacy groups have called for a rent freeze during the coronavirus pandemic, which has put thousands of New Yorkers out of work.
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Policy

De Blasio urges state to act on NYC rent relief proposals

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April 13, 2020

De Blasio urges state to act on NYC rent relief proposals

By Devin Gannon

Mayor Bill de Blasio on Monday urged the state to act on a number of rent relief proposals amid the coronavirus pandemic, including a deferment of rents for tenants, the use of pre-paid security deposits in lieu of rent, and an extension of the current moratorium on evictions. The mayor has also called on the Rent Guidelines Board--the entity that determines yearly rent increases for the city's rent-stabilized units--to enact a rent freeze.
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Policy

Rent Guidelines Board approves modest increases for rent-stabilized apartments

Image by Jorbasa Fotografie / Flickr

June 26, 2019

Rent Guidelines Board approves modest increases for rent-stabilized apartments

By Alexandra Alexa

In front of a packed auditorium at Cooper Union’s Great Hall last night, the Rent Guidelines Board voted on rent hikes for the city’s one million rent-stabilized apartments, the New York Times reports. The board voted 5-4 and approved a 1.5% increase on one-year leases and 2.5% on two-year leases. The new rents will kick in on October 1.
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Rent stabilized apartments will see increases of 1.5 and 2.5 percent this year

Photo courtesy of the MET Council on Housing

June 27, 2018

Rent stabilized apartments will see increases of 1.5 and 2.5 percent this year

By Emily Nonko

Last night the Rent Guidelines Board approved rent hikes for tenants in rent-stablized buildings, making this the second year rents for such units have increased. This latest vote by the board allows landlords to charge their rent-stabilized tenants increases of up to 1.5 percent for one-year leases and 2.5 percent for two-year leases. As the New York Times points out today, "the increases were seen as modest given the history of the nine-member board." Still, these are the steepest permitted increases since 2013 -- news met with jeers from housing advocates at a public hearing held at Cooper Union.
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June 28, 2017

The city approves rent increases for rent-regulated apartments

By Devin Gannon

Tenants leasing a rent-regulated apartment, buildings built before 1974 with six or more units, will soon see their rents rise for the first time in years. New York City’s Rent Guidelines Board voted to increase rent for regulated apartments on Tuesday, allowing an increase of 1.25 percent for one-year leases and 2 percent on two-year leases, set to begin Oct. 1. As the New York Times reported, the board, which had voted two years in a row to freeze rents, found that a 6.2 percent increase in operating costs for landlords in 2016 warranted this year’s increase.
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Rent Guidelines Board expected to vote in favor of rent increases

Photo via Wikimedia Commons

June 22, 2017

Rent Guidelines Board expected to vote in favor of rent increases

By Devin Gannon

Photo via Wikimedia Commons Following two years of rent freezes, the city’s Rent Guidelines Board will take a final vote on Tuesday to determine whether or not rents will be increased by at least one percent. Earlier this year in April, the board voted to increase rents by one to three percent for one-year leases and four percent for two-year leases in a preliminary vote. According to the Wall Street Journal, the board released a study that showed landlord costs rose in the past year, a shift that landlords say warrants an increase in rents on new leases that take effect on or after Oct. 1.
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October 3, 2016

Renters’ Rights 101: Know what your landlord is responsible for

By Diane Pham

No, you don't have to suffer in a sub-zero apartment this winter, nor do you need to dine with mice and roaches in your kitchen during the summer. If you're one of the many constantly finding themselves up in arms over a negligent landlord, rest assured there's more that you can do beyond grumbling to your friends. Indeed, in NYC tenants have a lot of power, and the city has established a number of regulations to protect you, your family, and especially young children living in rental properties. Ahead is 6sqft's list of the most common problems New York renters face—and some advice on how to get those issues fixed quickly.
Your rights here

July 16, 2015

New Map Shows Where More Than 50,000 Rent Stabilized Apartments Have Been Lost

By Dana Schulz

At the end of last month, the Rent Guidelines Board voted to freeze rents for the first time on one-year leases for the city's more than one million rent stabilized apartments, which make up about 47% of the city's total rental units. They also increased rents on two-year leases by only two percent, the lowest in the board's 46 years. While this historic ruling is a huge win for tenants, it doesn't bring back the astonishing number of apartments that have been deregulated. Since 1994, nearly 250,000 units have lost rent regulation protections, and over these past eight years alone, New York City has lost more than 50,000 rent stabilized apartments. To put that staggering number into perspective, cartographer John Krauss has put together a handy map that shows where all of these 50,000 apartments are located (h/t Gothamist). Using scraped tax bills, he plotted changes in the number of rent-stabilized units, building by building.
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