Rent Guidelines Board approves rent hike for some BX tenants

The city's Rent Guidelines Board voted 5-4 to increase rent amounts for rent-stabilized apartments in the Bronx and New York City.

The board finalized rent increase amounts for one and two-year leases. For one-year leases, the amount will increase by 4.25 percent. For two-year leases, the board approved a 7.25 percent hike.

The rent hike would affect those residents living in rent-stabilized apartments. Landlords say hike is necessary because of the increasing costs of gas and other expenses. Many tenants say the increase could eventually force them out of their homes.

Related Information:Bronx tenants, landlords state their case in rent hike hearings Rent Guidelines Board paves way for rent hikes in BX, city

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