SUMMARY OF GUIDELINES ADOPTED ON JUNE 17, 2020
This summary of the Rent Guidelines Board guidelines is solely for the informal use of the public and should not be substituted for the full text of the Apartment and Loft Order 52 and Hotel Order 50. The full text of these orders will be made available to the public in the coming days and, when available, can be obtained on this website or by calling 212-669-7480.
The following lease guidelines for rent stabilized apartments, lofts and hotels were adopted by the Rent Guidelines Board on June 17, 2020.
RENT STABILIZED APARTMENT GUIDELINES
Together with such further adjustments as may be authorized by law, the annual adjustment for leases for apartments shall be:
- For a one-year lease commencing on or after October 1, 2020 and on or before September 30, 2021: 0%
- For a two-year lease commencing on or after October 1, 2020 and on or before September 30, 2021: 0% for the first year of the lease and 1% for the second year of the lease.
RENT STABILIZED LOFT GUIDELINES
- For one-year increase periods commencing on or after October 1, 2020 and on or before September 30, 2021: 0%
- For two-year increase periods commencing on or after October 1, 2020 and on or before September 30, 2021: 0% for the first year and 1% for the second year.
SPECIAL GUIDELINE
For dwelling units subject to the Rent and Rehabilitation Law on September 30, 2020, which become vacant after September 30, 2020, the special guideline shall be 39% above the maximum base rent (MBR).
RENT STABILIZED HOTEL GUIDELINES
The allowable level of rent adjustment over the lawful rent actually charged and paid on September 30, 2020 shall be:
1) Residential Class A (apartment) hotels – 0%
2) Lodging houses – 0%
3) Rooming houses (Class B buildings
containing less than 30 units) – 0%
4) Class B hotels – 0%
5) Single Room Occupancy buildings
(MDL section 248 SRO’s) – 0%