Rent Adjustments Decided by Adams-Controlled Rent Guidelines Board Go Into Effect October 1
Rents go up by 2.75% for 1-year leases and 5.25% for two-year leases
NEW YORK – Rent increases go into effect today for 2.5 million rent stabilized renters in New York City. The Rent Guidelines Board, appointed by Mayor Eric Adams, voted in June to raise rents 2.75% for 1-year leases and 5.25% for two-year leases.
“Today, millions of New Yorkers are paying more in rent because of Eric Adams. Instead of working for us, Mayor Eric Adams works for real estate, taking money from the same people who raise our rents, refuse to make repairs, and push families out of our neighborhoods. As Mayor, Adams has slashed funding for affordable housing, while his hand-picked Rent Guidelines Board hiked rents by 9% in three years. We need a Mayor who will represent renters – the majority of the city – by freezing the rent and investing in our homes,” said Cea Weaver, Coalition Director of Housing Justice for All.
“Families in the Bronx and around the city are already struggling to make ends meet. Any additional rent increases will expand their financial burdens, forcing them to choose between paying for medicine or food or possibly being unhoused or displaced. It is the responsibility of our city government and those elected to represent us to ensure that everyone has access to safe and affordable housing,” said Joanne Grell, rent stabilized tenant in the Bronx and member of Community Action for Safe Apartments (CASA).