Rent Increases

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On June 20, 2013, the New York City Rent Guidelines Board (RGB) issued an order—RGBO #45—setting the rent increases you may take for rent-stabilized tenants in New York City on leases beginning anytime on or after Oct. 1, 2013, through Sept. 30, 2014. This year the increases are about double what they were last year.

If you have a tenant who’s paying a monthly rent of $2,500 or more for a rent-controlled or rent-stabilized apartment, it might be time to send out the second of two Division of Housing and Community Renewal (DHCR) forms that may eventually lead to deregulation of the apartment. If you miss the deadline, you will have to wait until next year to apply for deregulation.

When you apply to the Division of Housing and Community Renewal (DHCR) for a major capital improvement (MCI) rent hike, it’s likely that one or more of your tenants will challenge your right to the rent hike. Tenants may return an answer form, giving reasons why they think you’re not entitled to it. Or they may appeal the order granting you a rent hike.

You can easily spend thousands of dollars for pointing and waterproofing work. If you make this substantial expenditure with an eye toward getting a major capital improvement (MCI) rent hike, you don’t want the Division of Housing and Community Renewal (DHCR) to deny your application based on a technicality.

If you sign a vacancy lease with a tenant between Oct. 1, 2012, and Sept. 30, 2013, the new order issued on June 21 by the Rent Guidelines Board (RGB)—RGBO #44—lets you collect the vacancy increases permitted under the Rent Regulation Reform Act of 1997 (RRRA).

On June 21, 2012, the New York City Rent Guidelines Board (RGB) issued an order—RGBO #44—setting the rent increases you may take for rent-stabilized tenants in New York City on leases beginning anytime on or after Oct. 1, 2012, through Sept. 30, 2013. As a result of the RGB's decisions, this year's allowable renewal increases are the lowest increases in a decade.

The Division of Housing and Community Renewal (DHCR) recently updated its Web site with the necessary forms you have to fill out to start the process for increasing the rents of your rent-controlled apartments during the 2012-13 maximum base rent (MBR) cycle. Once you receive the orders of eligibility, you can raise your MBRs by 7.8 percent over their 2010-11 levels. The MBR increase for this cycle is lower than the 12.9 percent increase used in 2010-11.

When you make improvements, such as installing a new refrigerator or replacing flooring, to your rent-regulated apartments, the owner may be entitled to an “Individual Apartment Improvement Rent Increase.” This increase is in addition to vacancy increases allowed by law or the regular annual Rent Guidelines Board adjustments for rent-stabilized apartments, and biennial adjustments to Maximum Base Rents for rent-controlled apartments.