Rent board casts preliminary vote in favor of freezing rents

In a preliminary vote, the Rent Guidelines Board approved a proposal that would freeze rents on stabilized apartments and lofts for a year. The board voted 5-4 to endorse freezing rents on one-year leases and the first year of two-year leases signed on or after Oct. 1, 2020. During the second year of two-year agreements, rent would rise 1 percent under the proposal, put forward by David Reiss, the board’s chair. While not binding, preliminary

source https://therealdeal.com/2020/05/07/rent-board-casts-preliminary-vote-in-favor-of-freezing-rents/