Posted by Mark Smith on May 20, 2000 at 07:06:23:
After several years of granting a 0% allowance for subletting, the Rent Guidelines Board is proposing a sublet allowance of 10% for sublets commencing between October 1, 2000 and September 30, 2001:
PROPOSED ADDITIONAL ADJUSTMENT FOR RENT STABILIZED APARTMENTS SUBLET UNDER SECTION 2525.6 OF THE RENT STABILIZATION CODE
In the event of a sublease governed by subdivision (e) of section 2525.6 of the Rent Stabilization Code, the allowance authorized by such subdivision shall be 10% provided, however, that this charge shall not be in addition to other sublet adjustments that may otherwise be allowed by law.
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