New Yorkers could see rent hike following Rent Guidelines Board hearing

New Yorkers could see rent hike following Rent Guidelines Board hearing

New Yorkers could see rent hike following Rent Guidelines Board hearing
A public hearing on the proposed rent hike from the Rent Guidelines Board took place Wednesday.
Renters could see a hike between 2% to 4% for one-year leases while two-year leases could see an increase from 4% to 6%.
New Yorkers across the city, tenant advocates and other organizations rallied to demand that the board roll back rent this year.
The board, which sets the rent for more than $1 million rent-stabilized apartments, is expected to vote on June 21 on a potential increase, one of the biggest jumps seen in a decade.
The final public hearing is scheduled for June 21 in Manhattan.