Rent Increases

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...

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...