NYC's Holiday Gift to Landlord$

Submitted by ub on Tue, 06/28/2011 - 10:14

About 2.5 million tenants in NYC will soon be forced to pay higher rents. Members of NYC Rent Guidelines Board have just approved a 3.75% increase for one year leases and 7.25 for those with two year contracts.

These increases will take effect on October 1 and will affect 1.1 rent controlled and rent stabilized apartment units. Just in time for this year's holidays.