NYC board approves rent hikes on stabilized apartments

After hundreds of tenants testified across the city about how rent increases are causing homelessness and displacement, the Rent Guidelines voted to increase rents by 1.5% for 1 year leases and 2.5% for 2 year leases.

“As small as that 1.5% may appear, that adds up to money to where they are gonna have to ask ‘Am I gonna pay my rent or am I gonna by my medication? Am I gonna pay my rent or am I gonna have enough food on my table to feed my family?'” said CASA Leader Fitzroy Christian.