Rent Guidelines Board Votes Rent Freeze

On Monday night, history was made when the Rent Guidelines Board voted for a rent freeze for the first time in NYC, a decision that will affect 1 million rent-stabilized residents in the city.

The board voted against any increase on one-year increases, and voted for a 2 percent increase on two-year leases. Though this fell short of the rent rollback that many tenant advocates lobbied for, the vote did not sit well landlords and their organizations. The RGB’s two landlord representatives were the only dissenting votes on a board many believe are pro-tenant.

Bronx Borough President Ruben Diaz Jr. praised Monday evening’s vote of the Rent Guidelines Board as historic and offered to assist landlords in keeping their own costs down. Diaz invited interested property owners to contact his office for information on the “The Bronx Clean Energy and Housing Initiative.”

Tonight’s vote is only a piece in the puzzle of affordable housing. Through programs like ‘The Bronx Clean Energy and Housing Initiative,’ we can green our existing housing stock, keep energy costs low for property owners while simultaneously keeping rents affordable for tenants,” said Borough President Diaz. “My office is ready to work with Bronx property owners on the critical issue of affordability.”

The new rent rates take effect this October 2015.

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