Panel Backs Smaller Rent Increases Than Usual
(NYT) — Rents for New York City’s one million rent-stabilized apartments will rise less than in the past several years under increases set Thursday evening at a typically raucous public meeting.
The city’s nine-person Rent Guidelines Board approved rent increases of 2.25 percent for one-year leases and 4.5 percent for two-year leases. The increases apply to leases renewed between Oct. 1, 2010, and Sept. 30, 2011.
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