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A day after the New York City Rent Guidelines Board's decision, Adams repeated his view that with rising inflation, both tenants and small landlords need to be protected, suggesting that he believes an increase of some kind is in order.
The board, which governs rent increases for 2.4 million stabilized tenants, has been mulling some of the biggest rent hikes in nearly a decade.
New Yorkers who live in the city's rent-controlled apartments are bracing for a vote from the Rent Guidelines Board that could see nearly 1 million apartments see as much as a 9% rent hike.
Nearly 1 million NYC apartments are rent-stabilized, meaning landlords can't increase rent beyond a certain percentage annually.
Some Democrats are calling proposed increases for New York City’s roughly one million rent stabilized apartments “unconscionable.” Mayor Eric Adams says he wants to support small landlords.