Senator Biaggi Releases Statement on NYC Rent Guidelines Board Decision to Increase Rents

NEW YORK, NY – This week, the NYC Rent Guidelines Board voted 5 to 4 to allow landlords to raise rents on one-year leases by 3.25 percent in rent-stabilized homes, and by 5 percent on two-year leases – the most significant rent increase since the Bloomberg administration. 

State Senator Alessandra Biaggi (D-Bronx/Westchester) issued the following statement:

“In the midst of a housing crisis and soaring inflation, the NYC Rent Guidelines Board has made the unconscionable decision to increase rents by 5 percent on 2-year leases and 3.25 percent on 1-year leases for rent stabilized tenants– impacting over 2 million people. Residents across the city are already struggling to make ends meet. This decision will only result in more working class, low-income, and immigrant New Yorkers being displaced and pushed out of the communities they’ve called home for decades. 

It is both shameful and disappointing that this administration has continuously ignored the needs of struggling tenants, instead choosing to side with wealthy landlords and real estate interests. This decision will only exacerbate our state’s homelessness crisis, without providing any real relief or solutions to those at risk of eviction and displacement. 

I would also be remiss not to mention that the State Legislature failed to address our urgent housing crisis this session. Once again, we were unsuccessful in passing crucial legislation such as Good Cause Eviction which would directly benefit our most vulnerable tenants. Both the City and State must prioritize increasing the supply of housing stock-– particularly affordable housing. Addressing our housing crisis must be a top priority for every level of our government. We must do everything in our power to end this crisis. 

Housing is a human right. Until we ensure that for every New Yorker, we have fallen short in our duty as elected officials. New Yorkers need real relief, not rent hikes.” 

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