Rent Guidelines Board considers rent freeze

Rent Guidelines Board considers rent freeze

Posted: Updated:

NEW YORK (AP) - The New York City Rent Guidelines Board has voted to consider 0 to 3 percent increases on one-year leases on rent-regulated apartments.

In a preliminary 8-1 vote, the board on Monday also voted to consider 0.5 percent to 4.5 percent increases on two-year rents.

It was the first time that the board had considered a rent freeze.

Rent Stabilization Association Executive Vice President Jack Freund called the vote outrageous. The group represents 25,000 owners or managers.

Tenant representatives applauded the vote.

A final vote is set for June 23 following public hearings in all five boroughs.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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