Rent Guidelines Board votes in favor of rent hikes

May 2, 2012 6:05:44 AM PDT
If you think your rent is too darn high, it is about to get even higher for many New Yorkers.

Despite protests from tenants, the city's Rent Guidelines Board is proposing a new set of increases for rent-stabilized apartments.

For one year leases, they are proposing 1.75 to 4 percent hike. Two year leases will see a 3.5 to 6.75 percent increase.

More than 1 million rent-regulated apartments will be impacted.

Both the tenants and the landlords say the process is unfair.

A final vote on the increase will happen June 21, following public testimony.

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