How many percentage rent increase in New York city?

Answer 1

As of my last update, the percentage rent increases in New York City can vary significantly based on factors such as the specific lease agreement, the type of property, and local regulations. For rent-stabilized apartments, the Rent Guidelines Board typically sets annual increases, which have ranged from 1.5% to 3.25% in recent years. For market-rate apartments, landlords may increase rent based on market conditions, often around 3-5% annually. It's important to check the latest guidelines or consult a local expert for the most current information.