Rent stabilization votes spark controversy in major US cities.

1 min read
Source: WABC-TV
Rent stabilization votes spark controversy in major US cities.
Photo: WABC-TV
TL;DR

The Rent Guidelines Board passed a preliminary first vote on proposed rent hikes for one-year and two-year leases for rent-stabilized apartments in New York City. The potential adjustment could increase rent 2-5% for one-year leases and 4-7% for two-year leases. Landlords and tenant advocates increased the pressure on the Rent Guidelines Board ahead of the vote on Tuesday night. The decision will impact nearly 2 million New Yorkers.

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