The Rent Guidelines Board voted to raise monthly rent payments by 1.25% on all rent stabilized apartments. Residence with 2-year leases will see a 2% increase in rent.
The raise in rent was booed by both renters and landlords alike. Renters complained that the landlord's keep getting richer and richer, while a representative from the Rent Stabilization Association called the rent increases totally inadequate and added that the tenants will end up being hurt by such low increases.
A spokesperson from Mayor De Blasio's office reminded voters that renters of stabilized apartments have collectively seen the lowest increases in rents over the last 4 years. The Mayor's office also said that the days of landlord lobbyists swaying rent hikes is over.
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