Update 6/29/15, 8:15 p.m. 

Tenants in New York City's rent-stabilized apartments won't have to pay higher rents on one-year leases, but will unfortunately face an increase on two-year leases.

For the first time in history, the city's Rent Guidelines Board voted Monday to freeze rents on one-year leases, and to raise rents only 2 percent on two-year leases.

Mayor de Blasio called the decision "the right move."

What do you think of the decision, New Yorkers? Let us know in the comments below.

[anad]

6/15/15, 6:01 p.m. 

According to The New York Times, rent regulations that limit how much landlords can charge for apartments in New York City are set to expire at midnight, and "lawmakers here did not appear close to a deal to extend or modify them."

Say what?!

Did you know these regulations cover about one million apartments in NYC? Apparently, Mayor de Blasio said on Sunday that the situation is "outrageous," and asked New Yorkers to speak out about the situation.

So here's the scoop as we see it (well, in a nutshell): Democrats want to extend and strengthen the regulations, so rent-stabilized apartments stay less expensive than market rates.

However, the Republicans want to make a whole bunch of changes to the rent-stabilized laws, like requiring tenants in rent-regulated apartments to verify their incomes and prove that their rent-regulated unit is their primary residence.

Based on this disagreement, and in the words of Governor Andrew M. Cuomo, "Everything is held up now." Surprise, surprise!

Ilana Maier, a spokeswoman for the Metropolitan Housing Council, doesn't think anything will happen right away-- even if the laws do expire this week.

She is worried, though, that landlords will use this expiration to "scare low-rent tenants," and incorrectly inform them that their leases are no longer valid.

[anad2]

So, landlords, how about not telling us New Yorkers any slimy lies in the meantime? And politicians, would you mind agreeing on something for just once?

That'd be just great, thanks.

It’s Official, NYC: Over the Past 10 Years, Your Rent Has Spun Completely Out of Control. 

[Feature Image Courtesy: WNYC.org]