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.)
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%
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%
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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