Statement from Speaker Adams Calling for the Rent Guidelines Board to Protect the City’s Nearly One Million Rent-Stabilized Tenants from Unreasonable Rent Increases

Ahead of the Rent Guidelines Board’s Queens Public Hearing on May 30 at the Jamaica Performing Arts Center, Speaker Adrienne Adams called on the Rent Guidelines Board to limit rent increases for nearly one million rent-stabilized tenants. In addition to submitting written testimony, Speaker Adams released the following statement. 

“Amidst a severe housing shortage and affordability crisis, record-high homelessness and evictions, New Yorkers cannot afford a rent hike that will push more to lose their homes and face instability. The low housing vacancy rate, rising cost of living, and other expenses like childcare are all contributing to the departure of far too many working- and middle-class families from our city. While I believe that small building owners and landlords deserve targeted protections and support, the Rent Guidelines Board’s decision will impact a broad range of tenants who have already absorbed high rent increases over the past few years and cannot afford the compounded effect of additional ones. Even a modest rent increase would push New Yorkers to the brink of eviction and homelessness, which would exacerbate the challenges facing the city’s overburdened shelter system. Considering these dire circumstances, the Rent Guidelines Board should limit rent increases and safeguard housing security, which will help us ensure the stability of our neighborhoods and the well-being of all New Yorkers.”