Ignoring hardships caused by the pandemic and runaway inflation, on Tuesday Mayor Adam's handpicked Rent Guidelines Board voted 5 to 4 to allow increases of 3.25% for one-year leases and 5% on two-year leases on rent stabilized apartments in NYC. The corresponding figures for SRO units and residential hotel stabilized units are 0% for one-year leases, and 0% for two-year leases.
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