NYC Rent Guidelines Board Votes For Stabilized Rent Freeze
NEW YORK (CBSNewYork) -- A rent freeze has been approved for rent-stabilized apartments in New York City.
On Wednesday night, the Rent Guidelines Board passed the proposal with a 6-3 vote.
Rents will now be frozen on one-year leases and the first year of two-year leases.
During the second year of two-year agreements, landlords can bump rent up 1%.
This rent freeze is the third in six and a half years.
The changes go into effect Oct. 1 and will last until September 2021.
Mayor Bill de Blasio released the following statement in response to the vote:
"Renters have never faced hardship like this. They desperately need relief and that's why we fought for this rent freeze. Now, more renters than ever before will get help keeping a roof over their heads. This is one step of many we have to take to get families through this crisis—but it's a big one."
Earlier this year, protesters called for a rent freeze, citing the number of people who have lost their jobs and are unable to find work due to the coronavirus pandemic.
