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>