Rent regulation is not a new issue for New York City. But the headlines in June 2015 were far larger and the reactions more contentious than at any time in recent memory. For the first time in its 46-year history, the Rent Guidelines Board decided that there would be no increase in rents for one-year renewals on rent-stabilized apartments; it also limited increases on two year renewals to two-percent. Not surprisingly, tenants hailed the decision … <Read More>
Search Results for: Rent Stabilization
Mayor Adams Makes Two New Appointments to Rent Guidelines Board
On March 31, 2022, Mayor Eric Adams announced the appointment of two new members of the Rent Guidelines Board. The Rent Guidelines Board is responsible for establishing rent adjustments for apartments subject to the City’s rent stabilization law. Approximately one million apartments and homes are subject to this law.
Zero Percent Rent Increase in 2016 Upheld
Landlord’s association challenged the Rent Guidelines Board’s 2016 decision to authorize a zero percent increase for one year leases. On June 27, 2016, the New York City Rent Guidelines Board promulgated the annual guidelines for rent adjustments for rent stabilized apartments. The Board allowed no increase in rent for one year renewal leases and a two percent increase for two year renewals.
Rent Guidelines Board Freezes One-Year Leases for 2nd-Year in a Row
Board votes for rent freeze despite strong push for a rent rollback by City Council coalition. On June 27, 2016, the New York City Rent Guidelines Board held a final vote to set guidelines for 2016-2017. This vote took place one year after the Rent Guidelines Board made a historic decision to freeze one-year leases instead of raising them.
Rent Guidelines Board Holds Rents at Current Levels
Freeze vote first of its kind in Board history, applies to one-year leases in rent-regulated units. On June 29, 2015 the Rent Guidelines Board voted 7-2 to not increase rents on one-year leases, affecting 1.2 million tenants of New York City’s rent-regulated apartments. The vote marked the first occasion where the Board decided to freeze rents. The Board’s vote also increased rents on two-year leases by 2 percent, a historically-low rate. The new rents will … <Read More>
Deal Near in Albany on Extension of Rent Regulation
Framework of extension deal includes rent regulation, 421-a. On June 23, 2015 Governor Andrew Cuomo, joined by Assembly Speaker Carl Heastie and Senate Majority Leader John Flanagan, announced the framework of a deal on extending rent-regulation protections for New York City. The laws expired on June 15, and the Legislature temporarily extended its session until June 23 to allow time for working on a longer-term solution.