Bronxites will have to brace themselves yet again as NYC’s Rent Guideline Board has approved another rent increase for rent-stabilized units.
Effective October 1, 2018, 1-year leases in rent-stabilized units will be subjected to a 1.5% increase and two-year leases will see an increase of 2.5% in their rents.
In a borough that is the most rent-burdened in NYC our residents cannot afford another increase.
Already nearly 70% of Bronx residents are at risk of displacement.
NYC’s homeless population is already estimated to be over 70,000 making it a humanitarian crisis and we also know that Bronx residents are at the biggest risk of becoming homeless.
This was an irresponsible move on the board which should have called for a rent freeze but hey, de Blasio can’t run for mayor again so what does he care, right?