New York City Council progressives call for rent freeze

In response to steep estimates of potential hikes on rent stabilized apartments in New York City – as high as 8.25% on one-year leases and 15.75% on two-year leases – the City Council Progressive Caucus presented a counter offer. How about 0%?

In response to the preliminary figures floated Thursday in a report by the Rent Guidelines Board, progressives suggested that the housing crisis necessitates a rent freeze. “It would be a dereliction of duty to even consider these inflammatory figures, especially at a time of skyrocketing evictions, systemic warehousing, and given last year’s rent increases of 3.25% for one year leases and 5% for two year leases,” the Progressive Caucus said in a statement.

The numbers released were just estimates in a report that reflects landlords’ costs. The final increases – assuming there are hikes – very likely won’t be that high. The Rent Guidelines Board, whose members are appointed by Mayor Eric Adams and include people specifically appointed to represent both tenant and owner interests, will vote on the final figures by July 1. “The 16% number put out by the Rent Guidelines Board today is part of a standard annual report, only reflects one assessment of landlords’ increased costs, and does NOT in any way represent a recommendation from the RGB or this administration,” Adams spokesperson Fabien Levy wrote in a tweet. “No recommended or adopted increase has ever come close to this number, and this year will be no different.”