Rent Guidelines Board
2016 Summary of Guidelines
SUMMARY OF GUIDELINES ADOPTED ON JUNE 27, 2016
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 48 and Hotel Order 46. 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, 2016 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, 2016.
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 renewal lease commencing on or after October 1, 2016 and on or before September 30, 2017: 0%
- For a two-year renewal lease commencing on or after October 1, 2016 and on or before September 30, 2017: 2%
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%.
For dwelling units subject to the Rent and Rehabilitation Law on September 30, 2016, which become vacant after September 30, 2016, the special guideline shall be 33% above the maximum base rent.
Rent Stabilized Loft Renewal Guidelines
- For one-year increase periods commencing on or after October 1, 2016 and on or before September 30, 2017: 0%
- For two-year increase periods commencing on or after October 1, 2016 and on or before September 30, 2017: 2%
Rent Stabilized Hotel Rent Adjustments
The allowable level of rent adjustment over the lawful rent actually charged and paid on September 30, 2016 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 6/28/2016