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Rent Guidelines Board Approves Rent Increases

 

On Monday, June 23rd, the New York City Rent Guidelines Board voted
5 to 4 in favor of allowing the following increases on rent-stabilized apartments and lofts
commencing between October 1st, 2014 and September 30th, 2015:

 

For a one-year lease: 1%

For a two-year lease: 2.75%

 

Vacancy allowances are those provided by State Law:

 

18.25% for a one-year lease
20% for a two-year lease

(An additional .006 per year for prior occupancies of eight years or more)

 

There is a 10% allowance for sublets.

For a complete summary of the approved guidelines, please click here


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