NYC Rent Guidelines Board Apartment & Loft Order #49

Adopted Rules: Closed to Comments

Agency:
Effective Date: 
Sunday, October 1, 2017
Download Copy of Adopted Rule (.pdf): 

Summary of Apartment & Loft Order No. 49

 

The Rent Guidelines Board (RGB) by Order No. 49 has set the following maximum rent increases for rent stabilized leases subject to renewal on or after October 1, 2017 and on or before September 30, 2018 for apartments under its jurisdiction: 

 

For a one-year renewal lease commencing on or after October 1, 2017 and on or before September 30, 2018:          1.25%

For a two-year renewal lease commencing on or after October 1, 2017 and on or before September 30, 2018:          2% 

 

Vacancy Allowance

No vacancy allowance is permitted except as provided by the Rent Regulation Reform Act of 1997 and the Rent Act of 2015.

 

Sublet Allowance

The increase landlords are allowed to charge when a rent stabilized apartment is sublet by the primary tenant to another tenant on or after October 1, 2017 and on or before September 30, 2018 shall be 10%.

 

Adjustments for Lofts

For Loft units to which these guidelines are applicable in accordance with Article 7-C of the Multiple Dwelling Law, the Board established the following maximum rent increases for increase periods commencing on or after October 1, 2017 and on or before September 30, 2018. No vacancy allowance is included for lofts.

 

1 Year            2 Years

1.25%                2%

 

Any increase for a renewal lease may be collected no more than once during the guideline period governed by Order No. 49.

 

Special Guideline

Leases for units subject to rent control on September 30, 2017 that subsequently become vacant and then enter the stabilization system are not subject to the above adjustments. Such newly stabilized rents are subject to review by the State Division of Housing and Community Renewal (DHCR). In order to aid DHCR in this review the Rent Guidelines Board has set a special guideline of 33% above the maximum base rent.

 

All rent adjustments lawfully implemented and maintained under previous apartment Orders and included in the base rent in effect on September 30, 2017 shall continue to be included in the base rent for the purpose of computing subsequent rents adjusted pursuant to this Order.