On Monday, June 29, 2015 the New York City Rent Guidelines voted to secure rent on all lease renewals for tenants living in a rent-stabilized apartment beginning on October 1, 2015. Rent-stabilized tenants should only see a maximum 2% increase on two-year lease renewals, which provides meaningful rent security, and a 0% increase on one-year lease renewals.
For the 1.2 million New Yorkers who live in a rent-stabilized apartment, this is what the Rent Guidelines Board vote means for you:
If you sign a one-year renewal on your lease between 10/1/2015 and 9/30/2016, your rent should not increase.
If you sign a two-year renewal on your lease between 10/1/2015 and 9/30/2016, your rent should increase no more than 2%.
If your landlord is not following the Board’s rules or you are facing any sort of harassment, call 311 immediately to receive help.