i need to know what the stats and numbers look like for this. like ok, you did a rent freeze, maybe that saves a lot of poor people some money, but why specifically 1-2 year leases? why not freeze all rents? what are they prioritizing here, what are the numbers? what target are they trying to hit? is anything holding them back?
Rent stabilized units in NYC (~40% of rental stock) are only offered in 1-2 year leases because the Rent Guidelines Board sets the rate for the maximum rent increase by % on a yearly basis. Landlords are required to offer a lease renewal to tenants in rent stabilized units at the end of their 1 or 2 year lease period
I believe the point is that rent freezes normally apply to leases longer than 2 years but personally i’ve never signed a lease longer than a year so I would guess this affects more people than most rent freezes have before.
I would also guess this doesn’t apply to people who signed leases with planned rent increases.
yeah ive only done 1-2 myself, frankly never even heard of anything longer than that but apparently new york has a lot of long leases if 1-2 is only half
i need to know what the stats and numbers look like for this. like ok, you did a rent freeze, maybe that saves a lot of poor people some money, but why specifically 1-2 year leases? why not freeze all rents? what are they prioritizing here, what are the numbers? what target are they trying to hit? is anything holding them back?
Rent stabilized units in NYC (~40% of rental stock) are only offered in 1-2 year leases because the Rent Guidelines Board sets the rate for the maximum rent increase by % on a yearly basis. Landlords are required to offer a lease renewal to tenants in rent stabilized units at the end of their 1 or 2 year lease period
I believe the point is that rent freezes normally apply to leases longer than 2 years but personally i’ve never signed a lease longer than a year so I would guess this affects more people than most rent freezes have before.
I would also guess this doesn’t apply to people who signed leases with planned rent increases.
yeah ive only done 1-2 myself, frankly never even heard of anything longer than that but apparently new york has a lot of long leases if 1-2 is only half