New York City tenants are bracing for a potential rent increase as the Rent Guidelines Board prepares to cast a preliminary vote on rent hikes. The board, composed of nine members appointed by the mayor and city council, is set to decide whether to freeze or raise rent rates for over 1 million rent-stabilized apartments across the city. The decision will have far-reaching implications for low- and middle-income residents, who rely on rent stabilization to keep costs manageable. Advocates for tenants are urging the board to consider the impact of rising rents on affordability and the city's growing homelessness crisis.
NYC Rent Guidelines Board to cast preliminary vote on freezing or hiking rates CBS News
