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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 ...
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%.
Failure to provide these may allow the tenant to receive a lower rent. [4] Outside of New York City, the state government determines the maximum rents and rate increases, and owners may periodically apply for increases. In New York City, rent control is based on the Maximum Base Rent system. A maximum allowable rent is established for each unit.
William A. Moses, the founder of the Community Housing Improvement Program, a trade association that represents the owners of over 4,000 apartment buildings in New York City, said in 1983 that rent control was "the principal reason for neighborhood deterioration" and that at least 300,000 apartment units would have been built in New York City ...
The New York City migrant housing crisis is a migrant crisis exacerbated by the existing New York City housing shortage, that began in April 2022. It has been driven by the Venezuelan refugee crisis, and to a lesser extent that from Haiti and other countries. [1] New York City is a sanctuary city.
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On June 11, 2019, State Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie announced that they had reached a "landmark agreement" on new rent laws. [6] Both houses of the New York state legislature passed the HSTPA on June 14, 2019, and Governor Andrew Cuomo signed the HSTPA into law later that day. [1]