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Rent Guidelines Board
2015 Summary of Proposed Guidelines

 

SUMMARY OF PROPOSED GUIDELINES ADOPTED ON APRIL 29, 2015

This summary of the Rent Guidelines Board proposed guidelines is solely for the informal use of the public and should not be substituted for the full text of the proposed Apartment and Loft Order 47 and the proposed Hotel Order 45. The full text of these proposed orders will be made available to the public after they have been published in the City Record and posted on nycrules.nyc.gov. Copies of the proposed orders will be available on or around May 8, 2015 and can be obtained from the Board’s offices at 51 Chambers Street, Suite 202, New York, NY 10007 or from our website nycrgb.org.

The following proposed range of renewal lease guidelines for rent stabilized apartments, lofts and hotels were adopted by the Rent Guidelines Board on April 29, 2015.

Proposed Rent Stabilized Apartment Renewal Guidelines

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 renewal lease commencing on or after October 1, 2015 and on or before September 30, 2016: 0% - 2%
  • For a two-year renewal lease commencing on or after October 1, 2015 and on or before September 30, 2016: 0.5% - 3.5%

Proposed 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%.

Proposed Special Guideline

For dwelling units subject to the Rent and Rehabilitation Law on September 30, 2015, which become vacant after September 30, 2015, the special guideline shall be the greater of the following:

  • 33% above the maximum base rent or
  • The Fair Market Rent for existing housing as established by the United States Department of Housing and Urban Development (HUD) for the New York City Primary Metropolitan Statistical Area pursuant to Section 8(c) (1) of the United States Housing Act of 1937 (42 U.S.C. section 1437f [c] [1]) and 24 C.F.R. Part 888, with such Fair Market Rents to be adjusted based upon whether the tenant pays his or her own gas and/or electric charges as part of his or her rent as such gas and/or electric charges are accounted for by the New York City Housing Authority.

Such HUD-determined Fair Market Rents will be published in the Federal Register, to take effect on October 1, 2015.

Proposed Rent Stabilized Loft Renewal Guidelines

Proposed Lease Renewals:

  • For one-year increase periods commencing on or after October 1, 2015 and on or before September 30, 2016: 0% - 2%
  • For two-year increase periods commencing on or after October 1, 2015 and on or before September 30, 2016: 0.5% - 3.5%

Proposed Rent Stabilized Hotel Renewal Guidelines

The allowable level of rent adjustment over the lawful rent actually charged and paid on September 30, 2015 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 4/30/2015

 

 


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