Just when you thought NYC couldn’t get any less affordable, it does. New rules designed to make apartments more comfortable will, according to critics, undoubtably result in rent increases passed along to struggling renters.
The Rent Guidelines Board in New York City recently approved rent increases for stabilized tenants. Approximately 1 million regulated apartments will see a 2.75% increase in rents. This decision has sparked debate and concerns about affordability for struggling renters.
Sources:
www.amny.com/housing/rent-guidelines-board-increase-nyc-tenants-2023/
www.yahoo.com/news/rent-guidelines-board-proposes-more-094144130.html
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