Please read the following before using or
downloading the 2007-08 Vacancy Lease Calculator

With the passage of the Rent Regulation Reform Act of 1997 the task of computing the rent on a vacancy lease suddenly became much more complicated. In previous years the Rent Guidelines Board usually passed an across-the-board percentage increase, which was easy to apply. Under the current law the amount of the rent increase depends upon whether the tenant chooses a one or two year lease, the previous rent amount (bonuses being awarded to "low rent" units) and the number of years the previous tenant was in the apartment. In some cases the vacancy increase can be computed in two ways and the owner can choose the higher of the two methods.

Please note that this vacancy calculator reflects the vacancy allowances that are in effect for the period from Oct. 1, 2007 to Sept. 30, 2008. The vacancy allowances for one- and two-year vacancy leases are 17.25% and 20% respectively. This calculator should only be used to calculate vacancy lease rents commencing between Oct. 1, 2007 to Sept. 30, 2008.

The 1997 Rent Regulation Reform Act set the TWO-year vacancy allowance at 20%. The ONE-year vacancy allowance is determined by taking the difference between the one- and two-year RENEWAL lease guidelines and then subtracting that difference from the 20% two-year vacancy allowance. The difference between these two guidelines (in effect from Oct. 1, 2007 through Sept. 30, 2008) is 2.75%. You then subtract the 2.75% from the two-year vacancy allowance (20% - 2.75% = 17.25%). The result is the one-year vacancy allowance of 17.25%.

The Rent Guidelines Board Vacancy Calculator is a simple spreadsheet application which quickly computes the MAXIMUM increase allowed under the current law. It makes the task of computing a vacancy rent fairly simple. Landlords can compute vacancy rents for new tenants and these tenants can use this calculator to judge the accuracy of their vacancy rent.

The Vacancy Calculator can be downloaded. It is a Microsoft Excel file which can be opened using Excel versions 97 or later.

Before using or downloading the application, you must agree to the following:

• The Rent Guidelines Board is not the agency responsible for administering the rent stabilization laws. This task is performed by the New York State Division of Housing and Community Renewal (DHCR). Ultimately, it is DHCR which decides whether a vacancy rent has been computed correctly.
• It is the responsibility of any party downloading the Vacancy Calculator to test its calculations and determine definitively that the calaculator correctly computes vacancy rents according to the provisions of the Rent Regulation Reform Act of 1997 and other applicable rules and regulations before using the calculator to compute legal rents.
• The Rent Guidelines Board is not responsible for any miscalculations of vacancy lease rents. The responsiblity of correctly computing a vacancy lease rent lies solely with the owner of the apartment unit.
• All users of the calculator agree to monitor any changes or modifications in the Rent Regulation Reform Act which are made by the Division of Housing and Community Renewal (DHCR) or by New York State, or which result from any legal action, and to stop using the calculator should these changes alter the current known procedures for calculating a vacancy lease rent.
• Under no circumstances should the calculator be used for calculating the vacancy lease rent for a lease beginning before October 1, 2007 OR after September 30, 2008.
• Additional assistance calculating vacancy leases is available by contacting the DHCR Small Property Owners Assistance Unit at (718) 262-4627.
• You will not redistribute the Vacancy Lease Calculator without the permission of the New York City Rent Guidelines Board. You are free to refer users to the RGB web site and to this web page so they can download the application.

I AGREE TO THE ABOVE (Clicking above will begin the download. The file is approximately 100K.) 12

I DO NOT AGREE (Clicking above will bring you back to the main Vacancy Leases page.)

Clicking on "I Agree" begins the download process.

After downloading the application (i.e. "Save to Disk") open Microsoft Excel. Open the file from WITHIN Microsoft Excel. For best viewing of the Vacancy Calculator, go the the "View" menu and turn OFF the Status Bar, Formula Bar and any Toolbars you have open.

Updated 7/23/07