With the ban on evictions running out in August, many New Yorkers who are out of work due to the economic effects of COVID-19 have been concerned about paying their rent.
But a “rent freeze” from October 1, 2020 through September 30, 2021 just passed last night. The Rent Guidelines Board voted on the measure and it passed 6-3, according to Patch.com. It will help 2 million New Yorkers stay in their homes during tough times.
The vote determined that those with two-year leases will have a freeze the first year, and then rent will rise 1% for the second year.
Mayor de Blasio had been calling for the organization, which determines by what percentage rent will increase or decrease for rent-stabilized apartments in NYC each year, to issue a “freeze” for about two months now, and it looks like they came through.
“It’s something they [the Rent Guidelines Board] has the power to do,” he said in April. “It’s something they have done before in times where the facts merited it. I think this is a time where it’s 100% clear that people are hurting like never before, they deserve a rent freeze, and I want to see that happen quickly.”
What a rent freeze means:
☑️ 1-year leases: 0%.
☑️ 2-year leases: 0% in year 1, 1% in year 2. https://t.co/IGdaU2vZy1
— City of New York (@nycgov) June 18, 2020
featured image source: Shutterstock