Rent Increases

RGB Likely to Extend Rent Freeze for One-Year Leases

May 20, 2021    

On May 5, in a preliminary vote, the Rent Guidelines Board (RGB) voted 5 to 4 to consider freezing rents on one-year leases or letting owners raise them up to 2 percent. If the RGB votes to keep rents as is for another year, it would effectively extend the rent freeze RGB approved last summer....

DHCR Updates Reasonable Cost Schedule for MCIs

January 22, 2021    

On Jan. 12, the DHCR issued Operational Bulletin 2021-1, which replaces Operation Bulletin 2020-01. According to the DHCR, this bulletin is designed to be updated annually to reflect reasonable costs associated with major capital improvements (MCIs). The annual bulletin allows the DHCR to...

DHCR Issues Reasonable Cost Schedule for MCIs

August 26, 2020    

When owners make improvements or installations to a building subject to the rent stabilization or rent control laws, they can apply to the DHCR for approval to raise the rents of the tenants. When the improvement or installation meets certain requirements it will be considered a major capital...

RGB Favors Rent Freeze in Preliminary Vote

May 21, 2020    

In a preliminary vote held on May 7, the NYC Rent Guidelines Board (RGB) proposed guidelines for rent-stabilized apartments effective Oct. 1, 2020, through Sept. 30, 2021. The board voted 5-4 to endorse freezing rents on one-year leases and the first year of two-year leases signed on or after...

RGB Issues Income & Expense Study, Annual Meetings to Continue

April 23, 2020    

Despite Mayor de Blasio’s announcement in April that the city was working with the state to suspend the Rent Guidelines Board (RGB) meetings, the meetings will be held remotely this year. The mayor said that there were some legal concerns with suspending the board. The RGB is mandated by...

IAIs Made Prior to HSTPA Enactment Not Limited to $15,000 Cap

March 19, 2020    

In early February, the DHCR released its online service that enables building owners to report information concerning individual apartment improvements (IAIs) for apartments subject to rent stabilization or rent control as required by the Housing Stability and Tenant Protection Act (HSTPA) of...

How to Collect 2020–21 MBR Increases for Rent-Controlled Units

February 21, 2020    

NYC Local Law 30 of 1970 stipulates that Maximum Base Rents be established for rent-controlled apartments according to a formula calculated to reflect real estate taxes, water and sewer charges, operating and maintenance expenses, return on capital value, and vacancy and collection loss...

Use DHCR's Online Service for New IAI Reporting Requirements

January 21, 2020    

The Housing Stability and Tenant Protection Act (HSTPA) of 2019 requires owners to notify the DHCR of all individual apartment improvements (IAIs) and requires the DHCR to establish a “centralized electronic retention system” for tracking IAIs. Recently, the DHCR announced that on or...

DHCR Updates MCI Application Form, Useful Life Schedule

November 12, 2019    

The passage of the Housing Stability and Tenant Protection Act of 2019 (HSTPA) significantly curtailed rent increases owners could get for major capital improvements (MCIs) and increased oversight by the DHCR. When owners make improvements or installations to a building subject to the rent...

Take 1.5% and 2.5% Rent Increases for Renewal Leases

July 29, 2019    

On June 25, 2019, the New York City Rent Guidelines Board (RGB) issued an order—RGBO #51—setting the rent increases you may take for rent-stabilized tenants in New York City on leases beginning anytime on or after Oct. 1, 2019, through Sept. 30, 2012. The board is mandated to...

File High-Income Rent Deregulation Form by June 30

May 23, 2019    

If you have a tenant who’s paying a monthly rent of $2,774.76 or more for a rent-controlled or rent-stabilized apartment, it might be time to submit online the second of two Division of Housing and Community Renewal (DHCR) forms that may eventually lead to deregulation of the apartment. If...

RGB Releases 2019 Income Studies

April 18, 2019    

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...