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Rent Guidelines Board votes in favor of increases on apartments, freeze on hotels

In a preliminary vote on Tuesday, the Rent Guidelines Board recommended a .5 to 2.75 percent increase for one-year leases and a 1.5 to 3.75 percent hike for two-year leases for both rent-stabilized apartments and lofts. The members voted 5 to 4 in favor of this proposal, put forward by chair David Reiss, which included a 10 percent allowance for sublets but didn’t call for a vacancy bonus. For hotels, tenant representative Sheila Garcia’s proposal […]

The Real Deal New York

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