Rent Guidelines change every year. They've typically been 2% or lower. Due to high inflation, the latest increase is 3.0%. [1]
There is no longer High-rent or High-income rent decontrol since 2019. Individual Apartment Improvements and Major Capital Improvement now provide a much smaller basis for rent increases and/or are temporary. [2]
missing the forest for the trees. three years of change doesn't make any difference.
To have rent control you have to have been in your apartment since before 1970. Capital improvements are how rent-controlled apartments had their rents jacked up between then and now. The majority of decontrol happened before any changes made in 2019.
The suggestion made before was that rent-controlled apartments were locked into the prices people paid 50 years ago and that's not remotely true. Also the number of rent-controlled apartments remaining in NYC is practically insignificant.
The OP was unclear, controlled units are certainly not "locked into" any price. To your point:
> rent control operates under the Maximum Base Rent (MBR) system. A maximum
base rent is established for each apartment and adjusted every two years to reflect changes in operating costs. Owners [...] are entitled to raise rents the [..] the average of the five most recent Rent Guidelines Board annual rent increases for one year renewal leases [...] until they reach the MBR
Rent Guidelines change every year. They've typically been 2% or lower. Due to high inflation, the latest increase is 3.0%. [1]
There is no longer High-rent or High-income rent decontrol since 2019. Individual Apartment Improvements and Major Capital Improvement now provide a much smaller basis for rent increases and/or are temporary. [2]
[1] https://rentguidelinesboard.cityofnewyork.us/wp-content/uplo...
[2] https://hcr.ny.gov/system/files/documents/2021/08/rent-laws-...