Going up: Rent Guidelines Board approves rent hikes on city’s stabilized units

The Rent Guidelines Board voted Monday evening to increase the rent for the city’s nearly one million rent-stabilized apartments, a decision that appeased neither smaller landlords nor tenant activists.

Stabilized renters with one-year leases can expect a 3% hike in their rents, while those with two-year leases will see rents climb 4.5%.