The Housing Stability and Tenant Protection Act (HSTPA) of 2019, effective June 14, 2019, eliminated the statutory vacancy rate and does not permit Rent Guidelines Boards to establish a separate vacancy rate. According to NYS Homes and Community Renewal (HCR), the state agency responsible for administering the rent regulation laws, a one or two-year lease guideline may be applied and added to the previous tenant’s legal rent, but only if explicitly authorized by the Rent Guidelines Board.
Effective for leases commencing between Oct. 1, 2020 and Sept. 30, 2021, consistent with guidance from NYS Homes and Community Renewal (HCR), Apartment and Loft Order #52 guidelines apply to vacant apartment and loft units that become occupied during the term of the Order, as well as to renewal leases or periods. However, no more than one guideline adjustment may be added during the guideline year governed by Order No. 52.
Previously enacted rent guidelines in effect in NYC since the effective date of HSTPA, Apartment and Loft Order #50 (effective Oct. 1, 2018 through Sept. 30, 2019) and Apartment and Loft Order #51 (effective Oct. 1, 2019 through Sept. 30, 2020), do not authorize these guidelines to apply to vacancy leases.
For further details, see HCR’s Fact Sheet #5: Vacancy Leases in Rent Stabilized Apartments.