(Bloomberg) -- Tenants in New York City’s 1 million rent-stabilized apartments are on track to face the third year in a row of rent increases as renters and landlords grapple with rising costs. Tenants in New York City’s 1 million rent-stabilized apartments are on track to face the third year in a row of rent increases as renters and landlords grapple with rising costs. (Pexels)The city’s Rent Guidelines Board on Tuesday endorsed potential rent hikes of 2% to 4.5% for one-year leases and 4% to 6.5% for two-year leases. Also Read: New York City's real estate market cools down: Are bargains on the horizon? New York City’s rent-stabilized apartment market has come under pressure in recent years.

Source: Hindustan Times May 02, 2024 17:17 UTC