RGB Freezes Rents for Second Year in a Row

The Rent Guidelines Board has decided:  

For Rent Stabilized tenants who renew their leases any time from October 1, 2016 through September 30, 2017 :

• 1-year leases: NO INCREASE.   
• 2-year leases: 2% increase.

NOT PROTECTED: 

• Tenants with "preferential rents" (those lower than the Legal Regulated Rent), 
• Tenants facing Major Capital Improvement (building-wide) or Individual Apartment Improvements increases.
• Rent controlled tenants who have an annual 7.5% increase(!)