By Gregg McQueen
Tenants may soon be taking a hike.
In a preliminary vote, New York City’s Rent Guidelines Board (RGB) voted to increase rents on rent-stabilized units.
During a virtual public meeting on May 5, the board voted 5-4 to approve rent increases between 2 to 4 percent on one-year leases and 4 to 6 percent on two-year leases.
The increase would affect about 940,000 rent-stabilized units citywide, which are home to more than 2 million tenants.
A final vote will be held in June after additional public meetings.