The New York City Rent Guidelines Board cast a narrow vote Monday night approving rent increases for rent-stabilized apartments across the five boroughs.
By a 5-to-4 margin, the board opted for a 3% rise for one-year leases and a 4.5% bump for two-year leases. These final figures fell within the range previously proposed, which had included possibilities as high as 4.75% for one-year leases and 7.75% for two-year contracts.
These changes are set to apply to leases commencing between October 1, 2025, and September 30, 2026.
In the spring, the board gave preliminary approval to a range of potential increases. Later, the focus shifted to potentially limiting the hikes for two-year leases, a concession to tenant advocates pushing for restraint.
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