Statement by New York City Comptroller Lander on Rent Guidelines Board Vote

New York, NY – New York City Comptroller Brad Lander released a statement following the Rent Guidelines Board’s vote to raise the annual rent adjustment 3.25% on one-year leases and 5% on two-year leases.

“At a moment when New Yorkers – tenants and landlords alike – are being squeezed by rising prices and with the threat of economic downturn on the horizon, the Rent Guidelines Board failed in its duty to balance rising costs for property owners with tenants’ ability to afford rent. By hiking rents far higher than a realistic assessment of costs, the Board is capitulating to property owners – with dire consequences for the approximately 2.4 million rent regulated tenants who will be hard pressed to afford their homes.”

Read the Comptroller’s full statement on the RGB staff proposal’s report: Comptroller Lander Calls on the NYC Rent Guideline Board to Reconsider Proposed Rent Increases.

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