WABC: Despite calls for a rent freeze, the NYC Rent Guidelines Board approved a 3% increase for one-year rent-stabilized leases, and 4.5% for two-year leases.
The rent increases would apply to leases beginning in or after October.
Affordable housing has been a top issue dominating the mayoral campaign trail this election season.
Mayor Eric Adams called for the Rent Guidelines Board to “adopt the lowest increase possible,” but did not call for a rent freeze like fellow New York City mayoral candidate and Council member Zohran Mamdani, who has made a rent freeze a central tenet of his campaign.
“Demands to ‘freeze the rent’ would exacerbate these harmful health and safety issues inside the homes of more than 1 million New Yorkers by depriving owners of the resources needed to make repairs,” Mayor Adams reacted in favor of the planned rent increase amounts.
“Even while landlord incomes have increased by 12%, this Mayor is once again placating real estate donors rather than serving the working people he once claimed to champion,” Zohran Mamdani said.
There are 1 million rent-stabilized apartments in the city, caught in the cyclical battle between tenants and landlords.
Tenants say they’re unhappy with how expensive housing has become, while property owners say they are not being given enough to keep up with inflation and the cost of maintaining and fixing their properties.
Fitzroy Christian’s rent was $238 for a two-bedroom when he moved to the Bronx more than half a century ago. Now, the 79-year-old pays more than a thousand for his rent-stabilized unit, and he worries he can’t keep up.
NYC tenants “are sick and tired of the landlords and lobbyists trying to buy our city … Eric Adams is squeezing in one last rent hike for his real estate donors before tenants show him the door,” said Cea Weaver, director of the New York State Tenant Bloc.
