The Rent Guidelines Board has approved increases for New York City's 1 million rent-stabilized tenants. Your leases will go up by 1.5 percent, and your leases will rise 2.5 percent. The increases will apply to new leases and renewals starting October 1st.
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Nyc rent stabilization increase 2024 Form: What You Should Know
Increase Exclusions Applicable to Tenancies in Single Family Houses and Condos Tenant with a Permanent Housing Authority Tenant with a Housing Authority Rent Supplement Tenant that has been convicted of any felony or misdemeanor that has been designated by Housing Authority as a crime of violence Tenant residing in transitional housing (a public or non-public facility for young adults, formerly homeless, chronically homeless, or transitioning from incarceration) Tenant who is disabled (disabilities including mental health conditions) Tenant who resides in Group A-I Housing (1 or more residents who have at least 12 months rent to pay in one 12-month period and who pay at least half their rent for the entire 12-month period in which they reside) Tenant whose household income for the prior calendar year is 51,000 or less, and is paid in installments Tenant in rent-stabilized room in a multi-unit building; (a) For a unit of housing for which a periodic rent is regulated under section 24 of the Housing Authorities Law (the “HULA” or the “New York City Rent Guidelines Law”) that maintains a periodic minimum rent of at least 1.00 per square foot and that has an occupancy level of 6 or 10, or a percentage of the total units of the housing in this category; or (b) For any other unit that maintains a periodic minimum rent of at least 1.00 per square foot and that is exempt from regulation under section 24 of the HULA or is regulated under another New York State or city law. For units subject to maintenance or rental assistance, the monthly rent (unless otherwise stated in the lease) will be fixed for the applicable housing category.  There is no automatic increase, but increases are permitted upon renewal for each of the six housing categories as listed above. SCRIBE (Section 24 of the HULA) — An increase of up to 100 is allowed where the rent was increased within the previous 2 years. Applicable Rent Increases The Rent Guidelines Board (NYC RGB) may increase the rent for units subject to a rent stabilization agreement, the rent for rent-stabilized apartments and the rent for units subject to a maintenance exemption for the purposes of reducing or eliminating the rental increases required by law for these tenants. The rent increase will be in addition to the increase determined by the landlord for the rent stabilized unit.
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