NYC Freezes Rents For All Regulated Units In Response To Coronavirus

New York City rents will freeze for the roughly 2 million New Yorkers living in rent-regulated units for a year in response to the coronavirus pandemic.

The Rent Guidelines Board, the panel that sets the rent for the city’s 1 million rent-regulated apartments, voted 6-3 Wednesday night to implement a one-year freeze running from Oct. 1, 2020, to Sept. 30, 2021, at the behest of Mayor Bill de Blasio.

The freeze also applies to the first year of two-year leases and allows landlords to enact a 1 percent increase in the second year.

“Renters have never faced hardship like this,” de Blasio said in a statement on the freeze, which also applies to the first year of two-year leases.

 Read more at THE NY POST.

{Matzav.com}