NYC Rent Board Considers 16% Increase for Rent-Stabilized Apartments.
The NYC Rent Board may allow landlords to increase rents by nearly 16% for regulated apartments over the coming year due to the dramatic spurt of inflation last year. The board is not bound by the recommended numbers in the staff reports and could adopt higher or lower rent hikes. Progressive activists and City Council lawmakers are pressuring Mayor Eric Adams and his appointees to the board to discard the findings and opt for a lower package of rent hikes.