In My Neighborhood in 11207>Question Details

Carlos, Renter in 11207

what is the allowable rent increase per year in nyc?

Asked by Carlos, 11207 Mon May 24, 2010

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at what dollor amount do you become destabilized
0 votes Thank Flag Link Wed Aug 21, 2013
1 year leases are at 3%
2 year leases are at 6%
IN NYC only for rent stablized appartments/buildings.
0 votes Thank Flag Link Tue May 25, 2010
You can also call 311 for assistance with questions about rent control and rent stabilization issues.
0 votes Thank Flag Link Tue May 25, 2010
The NYC Rent Guidelines Board approved increases for rent-stabilized units recently, authorizing an increase of 3 percent on one-year leases and 6 percent on two-year leases. According to the Times, after a motion for a rent freeze that was put forward by a tenant representative on the board was struck down, dozens of tenants walked out in protest.
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0 votes Thank Flag Link Tue May 25, 2010
Hello Carlos, I think these are fairly accurate, but there may be some more recent changes. These are the rent increases approved by the city’s Rent Guidelines Board in 2008. The board allowed landlords of rent-subsidized apartments to raise rents by 4.5 percent for one-year leases, and 8.5 percent for two-year leases.

The board also passed a minimum increase for anyone who had been living in an apartment for more than six years: They would have to pay at least $45 and $85 for one- and two-year leases, respectively. This meant that any long-term tenant paying less than $1,000 a month would be faced with a higher percentage increase than other rent-stabilized tenants. The rule was called Order No. 40.

The motivation behind the board’s increase was to compensate landlords for rising operational costs and to equalize rents between long- and short-term tenants, according to court papers. But the City Council and some Legal Aid lawyers cried foul, claiming in a September 2008 lawsuit that lower-income tenants were being unfairly singled out.
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0 votes Thank Flag Link Tue May 25, 2010
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