Assemblymember Linda B. Rosenthal Statement in Response to the Rent Guidelines Board Rent Increases

New York, NY – Assemblymember Linda B. Rosenthal (D/WF-Manhattan), Chair of the Assembly Committee on Housing, released the following statement in response to the Rent Guidelines Board’s 2024-2025 Rent Increases:

“I am outraged, but not surprised, by the Rent Guidelines Board’s decision to make living in New York City even more unaffordable for rent stabilized tenants. The Board’s final vote to raise the rent 2.75% on one-year lease renewals and 5.25% on two-year lease renewals is an utter betrayal of the city's tenants. This increase is another win for the real estate industry and big landlords, who will continue to cry poor while they force out low-income families, seniors and those on fixed incomes. As the RGB's own Income and Affordability Study documents, vacancy rates have hit historic lows, the number of evictions has risen 195% from last year, and almost half of rent stabilized households are rent burdened and forced to choose between putting dinner on the table and paying rent. With a record number of homeless people, tenants on the brink of eviction, not enough vouchers and the high cost of living, these increases portend an even greater housing crisis. The RGB needed to show true leadership, and tenants needed a chance to catch their breath after years of back-to-back rent increases. Instead, these rent increases will force more families into housing court and out of their homes. The RGB system is broken.”