Rent Increases

Rent Increases

How to Calculate RGBO #50 Vacancy Lease Increases

August 27, 2018    

If you sign a vacancy lease with a tenant between Oct. 1, 2018, and Sept. 30, 2019, the new order issued on June 26 by the Rent Guidelines Board (RGB)—RGBO #50—lets you collect the vacancy increases permitted under the Rent Regulation Reform Act of 1997 (RRRA).

Take 1.5% and 2.5% Rent Increases for Renewal Leases

July 26, 2018    

On June 26, 2018, the New York City Rent Guidelines Board (RGB) issued an order—RGBO #50—setting the rent increases you may take for rent-stabilized tenants in New York City on leases beginning anytime on or after Oct. 1, 2018, through Sept. 30, 2019. This order’s permitted...

DHCR Issues New Operational Bulletin on Defective Work and MCI Rent Hikes

May 22, 2018    

The DHCR recently posted Operation Bulletin 2018-1 entitled, “The Effect of Defective Work on the Disposition of an Owner’s Application for a Major Capital Improvements (MCI) Rent Increase.” It provides guidance on the granting of MCI rent increases when there are defective...

RGB Releases 2018 Operating Cost, Affordability, Mortgage Reports

April 19, 2018    

The Rent Guidelines Board (RGB) is mandated by law to establish yearly rent adjustments for rent-stabilized apartments in New York City. The board holds an annual series of public meetings and hearings to consider research from staff and testimony from owners, tenants, advocacy groups, and...

How to Collect 2018–19 MBR Increases for Rent-Controlled Units

February 23, 2018    

The Division of Housing and Community Renewal (DHCR) recently updated its website with the necessary forms you have to fill out to start the process for increasing the rents of your rent-controlled apartments during the 2018-19 maximum base rent (MBR) cycle. Once you receive the orders of...

DHCR Releases Preliminary Standard Adjustment Factor for 2018–19 MBR Cycle

December 20, 2017    

The rents in rent-controlled apartments in New York City are governed by the Maximum Base Rent (MBR) system. This system is based on a mathematical formula for computing the maximum rent levels for each controlled apartment in the city. This theoretical MBR represents an approximation of the...

DHCR Issues MCI Policy Statement Regarding Non-Construction Costs

October 19, 2017    

When you get a major capital improvement (MCI) performed at your building, you may have non-construction expenses such as general contractor or architect/engineer fees related to the underlying MCI project. For example, you may hire an engineer when you get your building’s parapet replaced...

How to Calculate RGBO #49 Vacancy Lease Increases

August 18, 2017    

If you sign a vacancy lease with a tenant between Oct. 1, 2017, and Sept. 30, 2018, the new order issued on June 27 by the Rent Guidelines Board (RGB)—RGBO #49—lets you collect the vacancy increases permitted under the Rent Regulation Reform Act of 1997 (RRRA).

Take 1.25% and 2% Rent Increases for Renewal Leases

July 27, 2017    

On June 27, 2017, the New York City Rent Guidelines Board (RGB) issued an order—RGBO #49—setting the rent increases you may take for rent-stabilized tenants in New York City on leases beginning anytime on or after Oct. 1, 2017, through Sept. 30, 2018. This order represents the first...

How to Calculate RGBO #48 Vacancy Lease Increases

August 19, 2016    

If you sign a vacancy lease with a tenant between Oct. 1, 2016, and Sept. 30, 2017, the new order issued on June 27 by the Rent Guidelines Board (RGB)—RGBO #48—lets you collect the vacancy increases permitted under the Rent Regulation Reform Act of 1997 (RRRA).

HCR Simplifies Obtaining MCI Increases for Accessibility Ramps

August 19, 2016    

In May 2016, the New York State Homes and Community Renewal (HCR) issued a processing directive allowing applications for a rent increase for installing accessibility ramps as a major capital improvement (MCI). An MCI is a permanent increase in rent for a rent-stabilized or rent-controlled...

RGB Approves Back-to-Back One-Year Rent Freeze, Sets Two-Year Increase at 2 Percent

July 13, 2016    

On June 27, the Rent Guidelines Board (RGB) voted for a 0 percent increase on one-year leases, and a 2 percent increase on two-year leases. The nine-member board voted 7-0, with two abstentions from the members representing the interests of landlords, to approve a 0 percent increase on one-year...