NYC Rent Guidelines Board Votes to Increase Rent 3.25% on 1-Year Leases, 5% on 2-Year

The NYC Rent Guidelines Board voted Tuesday night to increase rents for millions of people in rent-stabilized apartments.

17 comments

Best
jerseycityfrankie
jerseycityfrankie
371 · 6 days ago · Reddit

1010 wins quoted a guy refuting the “mom and pop” myth of building ownership by pointing out that the AVERAGE NYC building owner owns 21 buildings.

virtual_adam
virtual_adam
294 · 6 days ago · Reddit

This whole system which assumes poor people don’t live in market rate apartments is honestly offensive. Why fight for stabilized raises being so low if rich people are free to move into them

ToffeeFever
ToffeeFever
117 · 6 days ago · Reddit

Those who chose Eric Adams last June now owe Maya Wiley an apology.

nexert233
nexert233
102 · 6 days ago · Reddit

Firstly I am not a landlord. Secondly, I understand that costs for landlords go up. But, this vote is just plain cruelty to the renters. Especially the 5% hike on a 2 years lease. What a bunch of shortsighted and clueless dweebs. This is going to hit the pockets of a lot of people who can't afford it at this junction.

ToffeeFever
ToffeeFever
94 · 6 days ago · Reddit

The only place poor people can afford to live closest to our city core now is PHILADELPHIA.

ToffeeFever
ToffeeFever
94 · 6 days ago · Reddit

Ironically enough, the people who will most likely end up getting hurt from this the most is Eric Adams' own core base, whose identity politics and the way they've consumed their info have likely played a significant factor in his primary win last June.

This is why you do your careful research online rather than getting all your info by watching local TV news and reading Daily News/​Post/​AMNY rags, falling for their hyped-up BS narratives time and time again.

FuckOffJenn
FuckOffJenn
63 · 6 days ago · Reddit

i'm ok with this but only if Albany also raises min wage. how can you do one without the other?

Euphoric-Program
Euphoric-Program
48 · 6 days ago · Reddit

Average rent stabilized lease is $1800. That’s $63, yea I don’t get the outrage

rodrick717
rodrick717
26 · 6 days ago · Reddit

I recently fought off my landlord's attempt to increase our rent by just under 15%! After some calls to the city I figured out that my building is still rent stabilized, and they're still taking advantage of the "J51" tax break the city gives rent stabilized buildings. I came back to them with all the info I got and they happily accepted a 1.5% increase according to the current guidelines. (Williamsburg for reference)

Moral of the story, if you're up for renewal before the fall do your homework on your building, lock in that 1.5% before it increases!

ChocolateTsar
ChocolateTsar
24 · 6 days ago · Reddit

Why would anyone want to be a landlord of a rent-stabilized apartment (unless they bought it ages ago)?

I'm genuinely curious because a 3.25 or 5% increase is nothing compared to the increase in utilities, insurance, property taxes, HOA dues (if it's a single unit), and everything else that a landlord must pay for.

thefamousunkown
thefamousunkown
20 · 6 days ago · Reddit

Fuck Adam. Worse mayor. I’ve been saying. Elect a corrupted cop to be the mayor of our city. What did you expect? Hugs? It will only get worse. We need him out now

NDPhilly
NDPhilly
14 · 6 days ago · Reddit

Ridiculously low. Inflation is 9%, meaning the building’s expenses are increasing significantly more than the income. These buildings are going to fall into disrepair without larger increases.

TonyClifton255
TonyClifton255
10 · 6 days ago · Reddit

Given that a) rent stabilized rents are lower than average and likely breakeven or worse, and b) the cost of utilities and other costs are subject to inflation, I'm actually surprised it's not higher.

IsayNigel
IsayNigel
6 · 6 days ago · Reddit

I will just not vote before I vote for Eric adams.

Spiritual_Damage_569
Spiritual_Damage_569
6 · 6 days ago · Reddit

Lol they’re really trying to make back everything they lost during covid.

tsgram
tsgram
6 · 6 days ago · Reddit

So all of us city employees are getting 12% raises next contract to offset rent hikes and inflation, right?….. right?….

NetQuarterLatte
NetQuarterLatte
5 · 6 days ago · Reddit

With a 8.6% inflation rate, the nominal rent increase of 3.2% is actually a 5.35% rent cut when adjusted by inflation.

As much as people like to complain, this is not a bad result for tenants who scored a rent controlled unit.