Statement from New York City Comptroller Lander on Rent Increase

New York, NY — New York City Comptroller Brad Lander released the following statement after the New York City Rent Guidelines Board (RGB) voted increase rents by 3% for one-year leases and 4.5% for two-year leases: 

“For the fourth year in a row, Mayor Adams’ appointees on the NYC Rent Guidelines Board stuck tenants with a rent increase they can’t afford – even as landlord profits have soared, vacancy rates are at historic lows, and the proportion of rent-burdened households has reached unsustainable levels. 

“New York City tenants are facing the highest rents ever. Given the severity of the housing emergency, it is vital that the City do everything it can to keep rents as low as possible, ensure units are well-maintained, and cover essential costs. Instead, Mayor Adams’ appointees to the RGB jacked up tenants’ rents once again. 

“After carefully reviewing research compiled by the Rent Guidelines Board, I concluded that a rent freeze was appropriate for the upcoming year, following three years of rent increases that have raised rents by nearly 9%. Economists, tenant advocates, and even the City’s own reports also concluded that a rent increase would lead to more displacement and inequality. And last week, over half-a-million voters – well over half of the electorate – came out and voted for candidates supporting a rent freeze. 

“Unfortunately, Mayor Adams’ appointees to the Rent Guidelines Board failed to listen.” 

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