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RGB Sets First Preliminary Range Above 0% Since 2013

 

At the Rent Guidelines Board (RGB)  Preliminary Vote on April 25th, the Board set ranges for this year's Rent Guidelines:

 

For a one-year lease: 1%-3%

 

For a two-year lease: 2%-4%

 

A sublet allowance of 10%

 

A special guideline for decontrolled apartments equal to the Maximum Base Rent (MBR) + 33% or the HUD Fair Market Rate (FMR) whichever is greater.

 

Please keep in mind that although this is the first preliminary range under the de Blasio Administration to not include 0%, the RGB has failed the recognize this year's 6.2% increase in operating costs. 

 

This year's preliminary range is far short of the Board's own recommended commensurate ranges of between 3% and 8.5%. The Board's failure to set ranges between these numbers is a clear indication of Mayor de Blasio's continued involvement in the RGB deliberations. 

 

RSA members are urged to register for the RGB public hearings either through the RGB or by contacting RSA. Members must explain to the Board how this year's potentially low rent guidelines are insufficient to preserve and maintain your buildings after increased costs and two consecutive years of rent freezes. 

 

Click here for the 2017 RGB Meeting & Hearing Schedule.

 

 

Find Your Local Elected Official!

 

Find Your Elected Official! RSA's top priority is to protect the best interests of the rental housing industry by advocating in the State and City governments.

RSA’s top priority is to protect the best interests of the rental housing industry by advocating in the State and City governments.

 

Although our staff takes pride in advocating on behalf of residential property owners, it is important that you make your voices heard to your local elected officials as well.

 

Contact Your Local Elected Officials - if you live in NYC and want to locate and learn more about your local elected officials where you live or where your building is located.

 

Contact Your State Elected Officials - If you live outside of the five boroughs and you want to locate your state elected officials.

 Pay your RSA membership bills online

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