Rent Guidelines Board sets preliminary rate hikes

The Rent Guidelines Board has agreed to preliminary rate hikes for rent-stabilized apartments across the city.

If the guidelines go into effect, renters could see increases of 3 percent to 5.75 percent on one-year leases, and as much as 6 percent to 9 percent on two-year agreements. The nine-member board also voted on a one-percent surcharge for the buildings that are heated by oil.

Several public hearings will be held in June on the proposal. The final vote is scheduled for June 27.

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