New York City’s Rent Guidelines Board voted 5-4 to consider freezing rents for more than 1 million rent-stabilized tenants. The board will also weigh whether to include a 2 percent cap on increases for one-year lease renewals, and a .5 to 3.5 percent increase for two-year leases. Hundreds of tenants in attendance called for a 4 percent rent rollback, while landlord members of the board supported a 4 percent increase. According to a report from the Wall Street Journal, the board is slated to vote on the possible rent changes June 27. If approved, the measures would go into effect October 1.
