NYC panel approves 5 percent rent hike for stabilized apartments ...Middle East

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. The rent hike will impact millions of New Yorkers still reeling from the financial costs of the pandemic and squeezed by 40-year-high inflation. Nearly 2.3 million housing units in the Big Apple are rentals, 44 percent of which are rent stabilized. New York City’s rent-regulated apartment dwellers will now have to cough up more money to live in their homes. On Tuesday, the city’s Rent Guidelines Board (RGB), which sets rent adjustments for the Big Apple’s rou

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Last updated : 23 June 2022 clock 12:28 AM

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NYC panel approves 5 percent rent hike for stabilized apartments ...Middle East

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