The city’s Rent Guidelines Board voted to raise rents on the city’s rent-stabilized apartments Thursday night.

The board approved the increases of 2.25 percent for one-year leases and 4.5 percent for two-year leases after not passing four motions submitted by members.

Manhattan Borough President Scott Stringer is opposed to the approval.

“Bit by bit, we are turning our City’s affordable housing stock into a once-affordable memory. It is disappointing to hear that the Rent Guidelines Board has chosen to stick with its annual rent hike at a time when so many New Yorkers are struggling to make ends meet,” he said.

“With vacancy rates below 3% and the City losing thousands of rent stabilized units each year, this decision brings us one step closer to a housing crisis. I am committed to working with tenants, landlords and my colleagues in government to make sure that we protect our City’s vital affordable housing stock and all of the New Yorkers who will see their rents climb even higher next year.”

(Source: WPIX)