New York News
Rent Guidelines Board votes in favor of rent hikes
NEW YORK (WABC) -- If you think your rent is too darn high, it is about to get even higher for many New Yorkers.
Despite protests from tenants, the city's Rent Guidelines Board is proposing a new set of increases for rent-stabilized apartments.
For one year leases, they are proposing 1.75 to 4 percent hike. Two year leases will see a 3.5 to 6.75 percent increase.
More than 1 million rent-regulated apartments will be impacted.
Both the tenants and the landlords say the process is unfair.
A final vote on the increase will happen June 21, following public testimony.
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