BREAKING: By 5-4 margin, NYC Rent Guidelines Board votes preliminarily to raise costs of rent-stabilized units. The final vote will be held in June. Details:
-- The New York City Rent Guidelines Board held a preliminary vote Thursday on a range of rent increases impacting the city's 1 million rent-stabilized apartments.
It was a middle of the road vote by the board. Tenants wanted a freeze or rollback of rent, while owners wanted a 4.5-6.5 percent increase on one-year leases, and a 6.5-8.5 percent bump on two-year leases."We condemn the Board for voting to increase rents on some of our most vulnerable neighbors, people from low-income communities of color, especially when New Yorkers are still reeling financially from the pandemic and the local unemployment rate remains one of the highest in the country.
Earlier Thursday, CBS2's Alice Gainer spoke with landlords and tenants about what an increase would mean to them.
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