Tenants, landlords square off as NYC rent hikes could climb a staggering 15.75%

NEW YORK — Tenant advocates and landlords are stepping up the pressure ahead of a crucial preliminary vote next week by the Rent Guidelines Board — which has said it could potentially raise rates on two-year leases a staggering 15.75%. A recent report detailed a range of possible rent hikes on the city’s one million rent-stabilized apartments. On the low end: 5.3% for one-year leases and 6.6% for two-year leases, versus 8.25% and 15.75% on the higher end. The board is still zeroing in on a final number, but a final vote is not expected until June. Last year the board approved the largest rent ...