Housing in Brief: NYC Board Votes to Raise Rents on Millions of Regulated Tenants
June 23, 2022 by In New York City Rent Guidelines Board in New York City voted to increase rents for rent-regulated apartments by 3.25% for one-year leases and 5% for two-year leases starting October 1st. The decision marked the largest increase since 2013. It was motivated by financial analyses indicating drops in operating revenue despite overall profitability in rent-regulated buildings. Next, in Arizona, those who faced eviction cases that were settled will now have those cases sealed. Previously, these cases could negatively impact tenants’ credit reports, making it harder for them to secure future housing. Lastly, a report published in Scientific Reports highlights elevated levels of air pollution in federally-funded public housing developments.