Rent Guidelines Board to hold final vote on rent hikes

The city’s Rent Guidelines Board is expected to vote Monday night on proposed rent increases for rent-stabilized apartments across the five boroughs.

The final vote follows a month of debate and public hearings, during which tenants urged the board to freeze rents and landlords called for higher increases to offset rising operating costs.

The board is considering revised guidelines that would allow rent hikes of 1.75% to 4.75% for one-year leases and 3.75% to 7.75% for two-year leases.

The proposed range for two-year leases was scaled back slightly from the original minimum increase of 4.75% approved last month.

Any changes approved Monday would apply to leases beginning Oct. 1. About 2.4 million New Yorkers live in rent-stabilized units.