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Housing advocates contend that even the lower range of rent increases are far too much for tenants to bear, given the economic chaos caused by COVID and a lack of lawyers available to represent tenants in eviction cases.
New York City's Rent Guidelines Board has suggested raising prices this year by just under 3 percent up to 4.5 percent on one-year leases. For two-year leases,...
People living in rent-stabilized units could see steep increases as landlords look to recover pandemic losses.
New York City trade groups say certain landlords who accept federal rent aid can issue lease renewals with an increase so long as they don't charge that higher rent for a set period, ensuring that future increases are not pegged to a lower, frozen rent.
Landlord groups argued the data on operating costs justifies higher increases this year.