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After four consecutive years of rent hikes, 2.4 million New York City tenants living in rent-stabilized apartments are now just weeks away from a potential rent freeze.
At a Thursday night preliminary vote held at the LaGuardia Performing Arts Center in Long Island City, the Rent Guidelines Board—the nine-person panel that decides every year whether rents in stabilized apartments will go up, down, or remain the same—voted to support a rent increase of between 0 and 2 percent for one-year leases, and between 0 and 4 percent for two-year leases.