On Wednesday, June 17, 2020 the NYC Rent Guidelines Board voted to enact rent guidelines for rent stabilized apartments, lofts and hotels with leases commencing between October 1, 2020 and September 30, 2021.
The NYC Rent Guidelines Board (RGB) is mandated to establish rent adjustments for the approximately one million dwelling units subject to the Rent Stabilization Law in New York City. The Board holds an annual series of public meetings and hearings to consider research from staff, and testimony from owners, tenants, advocacy groups and industry experts.
The RGB staff is responsible for providing administrative support to the Board and prepares research regarding the economic condition of the stabilized residential real estate industry including operating and maintenance costs, the cost of financing, housing supply and cost of living indices. The RGB staff engages in year-round research efforts, publishes its reports for use by the public, other governmental agencies and private organizations, and provides information to the public on housing questions.