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The city's Rent Guidelines Board approved a nominal 2.75 rent increase for one million rent-stabilized apartments. That's below the year's 3.3 percent inflation rate.
In a 5-to-4 vote, New York City's Rent Guidelines Board voted to approve rent increases. One-year leases will rise by 2.75%, while two-year leases will rise by 5.25%.
The decision comes after the City of New York's Rent Guidelines Board voted last week to increase rents for rent-stabilized apartments by 2.75% for one-year leases and 5.25% for two-year leases.
Through its Office of Rent Administration (ORA), DHCR is responsible for administering and enforcing rent stabilization and rent control laws in New York City and other jurisdictions statewide. This includes reviewing and approving rent increases, handling tenant complaints, investigating violations, ordering corrections, and imposing penalties ...
Increased the minimum rent for high-rent or high-income deregulation of an apartment to $2,700, which will be adjusted each year by the one-year increase allowed by the Rent Guidelines Board. [29] The minimum rent for deregulation now is achieved following the prior lease and not as a result of a vacancy increase or improvements to unit or ...
Established in 1978 in the wake of Local Law 45 of 1976, the Department is the largest municipal developer of affordable housing in the United States.HPD is currently in the midst of New York City Mayor Bill de Blasio's Housing New York initiative to create and preserve 300,000 units of affordable housing by 2026.
The powerful panel that sets housing costs in about 1 million rent-regulated apartments in New York City voted Tuesday night to approve the largest increases in almost a decade: 5% for two-year ...
NYCHA is a public-benefit corporation, controlled by the Mayor of New York City, and organized under the State's Public Housing Law. [6] [11] The NYCHA ("NYCHA Board") consists of seven members, of which the chairman is appointed by and serves at the pleasure of the Mayor of New York City, while the others are appointed for three-year terms by the mayor. [12]