According to the criteria of
It should be noted, that this will affect contracts that begin between October 1 and September 30, 2025after the New York City Rent Guidelines Board approved the increase in the summer, the second hike in two years. So millions of residents will be involved.
The city’s mayor, Eric Adams, said after the vote: “Finding the right balance is never easy, but I think the board has done it this year, as evidenced by the affirmative votes of tenants and public representatives.”
What is rent stabilized in New York
The rent stabilized in New York City is a type of regulation that protects tenants and controls increases in rental rates. However, in recent years it has suffered several consecutive increases. This generally applies to buildings that were built before 1974 and have six or more units.
Although they will have increases, The mayor justified the measure by assuring that it is to “protect the tenants.” from unsustainable rent increases, while ensuring that small landlords have the resources necessary to maintain their buildings.”
#York #measure #force #October #affects #millions