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Rent Regulation Reform Act

Rent Regulation Reform Act of 1997

Its Provisions and How it Affects the Authority of the New York City Rent Guidelines Board

[Also see Rent Law of 2003; Rent Act of 2011; and Rent Act of 2015.]

What is the Rent Regulation Reform Act of 1997?

The Rent Regulation Reform Act of 1997 was enacted in June 1997. However, some aspects have been superseded by the Rent Law of 2003, Rent Act of 2011, and Rent Act of 2015.

It changed many provisions of New York Housing Law:

  • Extends the Rent Stabilization Laws until June 15, 2003.
  • Provides a new formula for computing the rent increases for stabilized apartments which become vacant.
  • Changes the definition of "succession" rights so that an apartment can be "passed down" for only a single generation without a vacancy increase.
  • Broadens "luxury decontrol" to households earning more than $175,000 in two consecutive years with rents of $2,000 or more. Previously, only households with incomes of $250,000 or more were subject to vacancy decontrol.
  • Requires tenants to pay rent into escrow in certain Housing Court disputes.

Click here for the text of the Act in its entirety.

When do the provisions of the Rent Regulation Reform Act take effect?

Most of the Act's most important provisions (e.g. the formula for calculating the vacancy allowance) were retroactive to June 15, 1997.

How does the Rent Regulation Reform Act affect the powers of the Rent Guidelines Board?

The Board will continue to set percentage increases for renewal leases of stabilized apartments. The Rent Guidelines Board could also pass a vacancy allowance IN ADDITION TO that provided for in the Rent Regulation Reform Act of 1997. However, the Board has not done so since the Rent Regulation Reform Act of 1997 was passed.

For the current vacancy guidelines, see our current Vacancy Leases page.

Page Posted 7/9/2015

 


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