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Rent Guidelines Board
2017 Summary of Guidelines

 

SUMMARY OF GUIDELINES ADOPTED ON JUNE 27, 2017

This summary of the Rent Guidelines Board guidelines is solely for the informal use of the public and should not be substituted for the full text of the Apartment and Loft Order 49 and Hotel Order 47. The full text of these orders will be made available to the public after they have been filed with the City Clerk. Copies of the orders will be available on or around July 1, 2017 and can be obtained from the Board’s offices at 1 Centre Street, Suite 2210, New York, NY 10007 or from our website nycrgb.org.

The following renewal lease guidelines for rent stabilized apartments, lofts and hotels were adopted by the Rent Guidelines Board on June 27, 2017.

Rent Stabilized Apartment Renewal Guidelines

ADJUSTMENT FOR RENEWAL LEASES  (APARTMENTS)

Together with such further adjustments as may be authorized by law, the annual adjustment for renewal leases for apartments shall be:

  • For a one-year increase periods commencing on or after October 1, 2017 and on or before September 30, 2018:   1.25%
  • For two-year increase periods commencing on or after October 1, 2017 and on or before September 30, 2018:  2%

Sublet Allowance

In the event of a sublease governed by subdivision (e) of section 2525.6 of the Rent Stabilization Code, the allowance authorized by such subdivision shall be 10%.

Special Guideline

For dwelling units subject to the Rent and Rehabilitation Law on September 30, 2017, which become vacant after September 30, 2017, the special guideline shall be 33% above the maximum base rent.

Rent Stabilized Loft Renewal Guidelines

Lease Renewals:

  • For one-year increase periods commencing on or after October 1, 2017 and on or before September 30, 2018:   1.25%
  • For two-year increase periods commencing on or after October 1, 2017 and on or before September 30, 2018:  2%

Rent Stabilized Hotel Rent Adjustments

The allowable level of rent adjustment over the lawful rent actually charged and paid on September 30, 2017 shall be:

            1) Residential Class A (apartment) hotels - 0%
            2) Lodging houses -   0%
            3) Rooming houses (Class B buildings
                containing less than 30 units) -       0%
            4) Class B hotels -  0%
            5) Single Room Occupancy buildings
                (MDL section 248 SRO's) - 0%

Page Created 6/28/2017

 

 


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