Rent-stabilized apartments have enabled many people to stay in a city that grows ever more expensive. But for the second year in a row, rents are set to rise.
With landlords facing higher costs for property maintenance, a rent regulation panel approved some of the largest increases for rent-stabilized units in nearly a decade.
Some Democrats are calling proposed increases for New York City’s roughly one million rent stabilized apartments “unconscionable.” Mayor Eric Adams says he wants to support small landlords.