NYC Rent Guidelines Board Apartment & Loft Order #51

Adopted Rules: Closed to Comments

Agency:
Effective Date: 
Tuesday, October 1, 2019
Download Copy of Adopted Rule (.pdf): 

 

Summary of Apartment & Loft Order No. 51

 

Adjustments for Apartments

The Rent Guidelines Board (RGB) by Order No. 51 has set the following maximum rent increases for rent stabilized leases subject to renewal on or after October 1, 2019 and on or before September 30, 2020 for apartments under its jurisdiction: 

 

For a one-year renewal lease commencing on or after October 1, 2019 and on or before September 30, 2020:          1.5%

For a two-year renewal lease commencing on or after October 1, 2019 and on or before September 30, 2020:          2.5% 

 

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, 2019 and on or before September 30, 2020. 

 

For a one-year increase periods commencing on or after October 1, 2019 and on or before September 30, 2020:          1.5%

For a two-year increase periods commencing on or after October 1, 2019 and on or before September 30, 2020:          2.5% 

 

Special Guideline

Leases for units subject to rent control on September 30, 2019 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 39% above the maximum base rent.