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NYC rent-stabilized apartments could see rent hikes, board votes

Rent-stabilized apartments in New York City may possibly

Rent-stabilized apartments in New York City may possibly see rent increases, the Rent Guidelines Board voted on Tuesday, May 3, 2016. Photo Credit: Linda Rosier

Rent could go up as much as 3.5% for rent-stabilized apartments, the city’s Rent Guidelines Board voted on Tuesday.

For a one-year lease, the proposed increase could be anywhere from nothing to 2% for renewal leases starting on Oct. 1, according to the board. But a two-year lease could increase by 0.5% to 3.5%.

The board will hold public hearings before the final vote on June 27.

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