Months after the promise of the largest rent hike in years, millions of New Yorkers are now subject to a new increase effective October 1.
The NYC Rent Guidelines Board voted in June to increase rents for those who live in the city's one million rent-stabilized apartments. The rent hike is the highest jump for rent-controlled apartments in 10 years.
By a 5-4 margin, the Rent Board approved two rate hikes: A 3.25 percent increase on one-year leases, and a 5 percent increase for 2-year leases. Both increases are the largest jumps in nearly a decade.
Legal Aid also criticized New York City Mayor Eric Adams for not doing enough to fight for a freeze, saying it was "wishful thinking given his appointment of known anti-tenant members to the Board."
For his part, Adams said in a statement that the increases will "be a burden to tenants," while small landlords were at risk of bankruptcy without an increase.
"While we raised our voices and were successful in pushing the increases lower, the determination made by the Rent Guidelines Board today will unfortunately be a burden to tenants at this difficult time — and that is disappointing," Adams said in a statement. "At the same time, small landlords are at risk of bankruptcy because of years of no increases at all, putting building owners of modest means at risk while threatening the quality of life for tenants who deserve to live in well-maintained, modern buildings."
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The mayor added that the current system is "broken, and we cannot pit landlords against tenants as winners and losers every year."
Adams acknowledged how inflation is devastating New Yorkers and expressed his hope that rent board would go with a smaller rent hike -- if any -- as to not decimate New Yorkers.
Prior to the final vote, the Board heard renters express fear that the rent hikes could push the struggling working class into poverty.
The organization Community Action for Safe Apartments condemned the rent hikes saying it directly impacts some of the city's most vulnerable residents. However, the city also heard from landlords who said they are facing rising maintenance and building costs and need help meeting those financial increases.
"Giving them an increase now is not the answer. Many tenants in there haven’t been able to work," said Brooklyn resident Jean Foltes.
"We fight with the landlords, the rats, the roaches, the leaks, the no-gas, the no-heat, the no-hot water — and you wanna give them more money, to do what with?" asked Kim Statuto, of the Bronx.
A crowd of demonstrators and tenants opposed to the hike rallied outside the board vote at Cooper Union's Great Hall, refusing to give in as several of the board members in favor of the rent increase were heckled. The group argued that the rent hike will not benefit smaller landlords, who have said they too have struggled with increased costs.
