Rent-Stabilized Apartment Rate Hike Vote Delayed Amid Albany Impasse
(DNAINFO) Amy Zimmer — With Albany legislators still at an impasse over the laws regulating the city’s roughly 1 million rent stabilized apartments, the annual vote on increases for new leases has been postponed until next Monday.
The Rent Guidelines Board was concerned about casting its vote Wednesday when there was still uncertainty about the status of the rent laws.
The rent laws expired on June 15 with an extension given while negotiations are ongoing — but the extension ends on Tuesday.
“We thought it prudent to postpone briefly in the hope that issues in Albany will have been clarified,” Rachel Godsil, the chairwoman of the board, told the New York Times.
The board’s nine members will be voting on a proposal to raise one-year leases by 0 to 2 percent and two-year leases by 0.5 to 3.5 percent.