SUMMARY OF PROPOSED GUIDELINES ADOPTED ON MAY 3, 2016
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 48 and the proposed Hotel Order 46. 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 rules.cityofnewyork.us. Copies of the proposed orders will be available on or around May 10, 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 proposed range of renewal lease guidelines for rent stabilized apartments, lofts and hotels were adopted by the NYC Rent Guidelines Board on May 3, 2016.
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, 2016 and on or before September 30, 2017: 0% - 2%
- For a two-year renewal lease commencing on or after October 1, 2016 and on or before September 30, 2017: 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, 2016, which become vacant after September 30, 2016, the special guideline shall be 33% above the maximum base rent.
Proposed Rent Stabilized Loft Renewal Guidelines
Proposed Lease Renewals:
- For one-year increase periods commencing on or after October 1, 2016 and on or before September 30, 2017: 0% - 2%
- For two-year increase periods commencing on or after October 1, 2016 and on or before September 30, 2017: 0.5% - 3.5%
Proposed 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 May 4, 2016