Rent Guidelines Board Increase Allowance as of Oct 2018

The Rent Guidelines Board adopted on June 26, 2018 Order #50 which establishes the following increases for rent stabilized apartments commencing on or after October 1, 2018 and before September 30, 2019:

Adjustment for Renewal Leases (Apartments)

For a one-year renewal lease commencing on or after October 1, 2018 and on or before September 30, 2019: 1.5%
For a two-year renewal lease commencing on or after October 2, 2018 and on or before September 30, 2019: 2.5%

Vacancy Allowance

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

Additional Adjustment for Rent Stabilized Apartments Sublet Under Section 2525.6 of the Rent Stabilization Code

In the event of a sublease governed by subdivision (e) of section 2525.6 of the Rent Stabilization Code , the allowance authorized by such subdivision shall be 10%.

Decontrolled Units

The permissible increase for decontrolled units as referenced in Order 3a, which become decontrolled after September 30, 2018, shall be 39% above the maximum base rent (MBR).

To read/download a copy of Order #50, click here.

To visit the Rent Guideline Board’s website page regarding Apartment and Loft Guidelines, click here.