Tuesday, June 28, 2016

RGB Freezes Rents for Second Year in a Row

The Rent Guidelines Board has decided:  


For Rent Stabilized tenants who renew their leases any time from October 1, 2016 through September 30, 2017 :

  • 1-year leases: NO INCREASE.   
  • 2-year leases: 2% increase.
NOT PROTECTED: 

  • Tenants with "preferential rents" (those lower than the Legal Regulated Rent), 
  • Tenants facing Major Capital Improvement (building-wide) or Individual Apartment Improvements increases.
  • Rent controlled tenants who have an annual 7.5% increase(!)



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