On June 24, 2010, the NYC Rent Guidelines Board adopted renewal lease guidelines for rent stabilized apartments, lofts and hotels with lease effective dates between October 1, 2010 and September 30, 2011. The guidelines are contained in the Apartment & Loft Order #42 and Hotel Order #40, both of which may be viewed/downloaded from our website. In addition, Explanatory Statements for the Orders are also available.
Each
year, the NYC Rent Guidelines Board adopts guidelines for
rent stabilized apartments, lofts and hotels in NYC. You
may view and download details of the current and previously
issued guidelines for apartments, lofts and hotels in
the Rent
Guidelines section of our website.
In a decision dated January 20, 2010, the Supreme Court of New York County issued a decision invalidating the minimum rent increases approved by the Rent Guidelines Board in Orders Nos. 40 and 41. These minimum increases affected rent stabilized tenants who renewed leases with effective dates between October 1, 2008 and September 30, 2010, had been living in their apartments for at least six years, and were paying rent of less than $1,000 a month.
On June 22, 2010, a mid-level appellate court affirmed the lower court's decision to invalidate the minimum increases. The Board will now ask the Court of Appeals (the State's highest Court) to review the case. Unless the Court of Appeals agrees to review the case and reverses the lower courts, the minimum increases of Order Nos. 40 and 41 are not in effect.
The other provisions of Order Nos. 40 and 41 are not affected by the litigation. Thus, unless the Court of Appeals reinstates the minimum increase provisions, the established percentage guideline increases set forth in Order Nos. 40 and 41 apply to all regulated apartments, regardless of length of tenancy or rent level.
