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NEW YORK: Rent for Millions of New Yorkers Could Increase. According to Bloomberg, the increase in rent comes after operating costs for those properties soared over the past year. The city's Rent Guidelines Board has endorsed 2% to 5% increases on one-year leases, while raising the rent on two-year leases by 4% to 7%. The final figures are likely to be approved in June, according to the New York Times. In at least the past 20 years, The vote has always matched preliminary results. Sources: @NYTI
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