Rent Guidelines Board casts preliminary vote to increase rent in stabilized apartments

affordable-Housing

In the first of two scheduled votes, the Rent Guidelines Board (RGB) preliminarily passed on Thursday evening a proposed rent hike for stabilized apartments, lofts and hotels by a narrow 5-4 margin. 

The May 5 preliminary vote calls for an increase of 2-4% on one-year leases in lofts and apartments with an increase of 4-6% for two-year leases with a special guideline 27% above the maximum base rent.

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