Would make the process for determining rental rates for rent-controlled and rent-stabilized apartments more fair and democratic by giving tenants a stronger voice in the process.
This year, the NYC Rent Guidelines Board passed the highest rent increase in a decade in an opaque process powered largely by the interests of real estate. It’s clear this process needs an overhaul.
These reforms would require the RGB to take a wider variety of considerations into account when determining rental prices to ensure they truly reflect the reality tenants on the ground face, provide municipalities with guidelines for their vacancy studies, and correct the balance of power by giving tenants and their advocates a stronger role.
In addition, it would move RGB votes to November instead of June and reduce Mayoral power over the RGB to keep the board more accountable. Everyone’s rent increases would happen at the same time.
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