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Rent hikes approved for regulated units | Bronx Free Press

Rainy Day - 181st Street

By Gregg McQueen

Building-Washington Heights-UC

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.

Read more: Rent hikes approved for regulated units | Bronx Free Press

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* This article was originally published here