Rent board report estimates 2.5% to 3.5% increases

As the mayor calls for a rent freeze, a Rent Guidelines Board report Thursday estimated that rent increases for rent-stabilized apartments should fall between 2.5 percent and 3.5 percent for one-year leases and 3.3 percent to 6.75 percent for two-year leases. The board, in its first virtual meeting, discussed the report compiled by its staff that recommends rent increases using five different “commensurate” formulas that consider operating costs, revenues and inflation. The formulas are designed

source https://therealdeal.com/2020/04/23/rent-board-report-estimates-2-5-to-3-5-increases/