It was nice while it lasted. After two years of steadfast prices, NYC is about to get the biggest raise in four years for rent-stabilized apartments. The proposal comes from a group of landlords, because of course it does.
The group is requesting a four percent increase on leases of one year and an eight percent increase on leases of two years. The Rent Guidelines Board will make its final decision on the matter on June 27, so stay tuned for the results.
In the meantime, check out how this proposal will actually influence your life (and budget): First, find out if your apartment is rent stabilized. Second, study up on the 10 tenant rights you probably don’t know about. And finally, cry yourself to sleep because NYC is the second most expensive U.S. city so you’re going to be broke regardless of what happens.