New York City Rent Guidelines Board
Rent Guidelines Order No. 40
For leases commencing between
October 1, 2008 through September 30, 2009 |
RENEWAL GUIDELINES : |
Owner provides heat:
One-year lease...................4.5%
Two-year lease...................8.5%
Minimum: One-year lease..............$45*, Two-year lease..............$85*
Tenant provides heat:
One-year lease...................4.0%
Two-year lease...................8.0%
Minimum: One-year lease..............$40*, Two-year lease..............$80*
*(Minimum rent applies if no vacancy lease in last 6 years.)
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VACANCY ALLOWANCE: |
Only as permitted by State statutory vacancy allowances:
One-year lease...................16%
Two-year lease...................20%
Vacancy allowance for sublets........10%
(See the RSA Reporter page 6 for statutory vacancy allowance and page 5 renewal guidelines calculations.) |
STABILIZED LOFT RENEWAL GUIDELINES: |
Lease Renewals:
For one-year lease……….3.5%
For two-year lease……….6.5%
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HOTEL RENT ADJUSTMENTS: |
October 1, 2008 shall be:
Residential Class A (apartment) hotels…….4.5%
Lodging houses…...................................…….4.5%
Rooming houses (Class B buildings containing
less than 30 units) ……....................................4.5%
Class B hotels…......................................…….4.5%
Single Room Occupancy buildings
(MDL section 248 SRO’s) ……...................…4.5%
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Special Guideline For Decontrolled Units Entering Stabilization: |
50% Above Maximum Base Rent; or, the appropriate Fair Market Rent for Section 8 housing as
established by HUD for the New York City PMSA adjusted for gas and electric charges, whichever
is greater.
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