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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 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.
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. [30] 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 ...
Story at a glance New York City’s Rent Guidelines Board voted to increase rents by 3.25 percent for one-year leases and 5 percent for two-year leases during a rowdy meeting earlier this week.
On July 15, 2019, an assortment of landlords and landlord groups initiated a legal challenge to the law in the U.S. District Court for the Eastern District of New York. [21] In a 125-page complaint , [ 21 ] the plaintiffs claimed that the Rent Stabilization Law – as modified by the HSTPA – violated their rights under Due Process Clause of ...
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 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 New York State Division of Housing and Community Renewal (DHCR) is an agency of the New York state government [1] responsible for administering housing and community development programs to promote affordable housing, community revitalization, and economic growth. Its primary functions include supervising rent regulations through the State ...