The board overseeing rent-regulated apartments in New York City voted preliminary approval for a rent freeze on one-year leases starting Oct. 1
The preliminary vote would freeze rents on regulated units, while tenants sought a rollback and landlords sought an increase
Hundreds of thousands of renters may miss rent payments for May as the coronavirus crisis enters its third month in the U.S. For smaller landlords, that means facing their own financial crisis. WSJ’s Jason Bellini reports. Photo: Fadhila HusseinThe board that oversees rent-regulated apartments in New York City voted on Thursday night to freeze rents for nearly one million tenants through September 2021 because of the coronavirus pandemic’s vast economic impact in the city.
The Rent Guidelines Board passed the measure via a Zoom meeting by a 5-4 margin. The vote was preliminary, but housing experts say the measure would almost certainty be ratified in a final vote scheduled for June 17.
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