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Summary of RGB Guidelines adopted on June 27, 2006

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Summary of RGB Guidelines adopted on June 27, 2006

Postby TenantNet » Thu Jun 29, 2006 11:40 am

SUMMARY OF RGB GUIDELINES ADOPTED ON JUNE 27, 2006

This summary of the Rent Guidelines Board guidelines is solely for the informal use of the public and should not be substituted for the full text of the Apartment and Loft Order 38 and Hotel Order 36. The full text of these orders will be made available to the public after they have been filed with the City Clerk. Copies of the orders will be available on or around July 1, 2006 and can be obtained from the Board’s offices at 51 Chambers Street, Suite 202, New York, NY 10007.

The following renewal lease guidelines for rent stabilized apartments, lofts and hotels were adopted by the Rent Guidelines Board on June 27, 2006.

Rent Stabilized Apartment Renewal Guidelines

ADJUSTMENT FOR RENEWAL LEASES (APARTMENTS)

Together with such further adjustments as may be authorized by law, the annual adjustment for renewal leases for apartments shall be:
    Where heat is provided or required to be provided to a dwelling unit by an owner from a central or individual system at no charge to the tenant, the adjustments are as follows:

      For a one-year renewal lease commencing on or after October 1, 2006 and on or before September 30, 2007: 4.25%

      For a two-year renewal lease commencing on or after October 1, 2006 and on or before September 30, 2007: 7.25%
    Where heat is neither provided nor required to be provided to a dwelling unit by an owner from a central or individual system, the adjustments are as follows:

      For a one-year renewal lease commencing on or after October 1, 2006 and on or before September 30, 2007: 3.75%

      For a two-year renewal lease commencing on or after October 1, 2006 and on or before September 30, 2007: 6.75%

These adjustments shall also apply to dwelling units in a structure subject to the partial tax exemption program under Section 421a of the Real Property Tax Law, or in a structure subject to Section 423 of the Real Property Tax Law as a Redevelopment Project.

Low Rent Supplementals:

There shall be no supplemental adjustment for apartments renting below any specified amount for renewal leases.

There shall be no equalization allowance for apartments continuously occupied for a specified period of time for renewal leases.

Sublet Allowance

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%.

Special Guideline

For dwelling units subject to the Rent and Rehabilitation Law on September 30, 2006, which become vacant after September 30, 2006, the special guideline shall be the greater of the following:

(1) 50% above the maximum base rent or

(2) The Fair Market Rent for existing housing as established by the United States Department of Housing and Urban Development (HUD) for the New York City Primary Metropolitan Statistical Area pursuant to Section 8(c) (1) of the United States Housing Act of 1937 (42 U.S.C. section 1437f [c] [1]) and 24 C.F.R. Part 888, with such Fair Market Rents to be adjusted based upon whether the tenant pays his or her own gas and/or electric charges as part of his or her rent as such gas and/or electric charges are accounted for by the New York City Housing Authority.

Rent Stabilized Loft Renewal Guidelines

Lease Renewals:

For one-year increase periods commencing on or after October 1, 2006 and on or before September 30, 2007: 3.75%

For two-year increase periods commencing on or after October 1, 2006 and on or before September 30, 2007: 6.75%

Rent Stabilized Hotel Rent Adjustments

The allowable level of rent adjustment over the lawful rent actually charged and paid on September 30, 2006 shall be:

1) Residential Class A (apartment) hotels - 2.0%

2) Lodging houses - 2.0%

3) Rooming houses (Class B buildings containing less than 30 units) - 2.0%

4) Class B hotels - 2.0%

5) Single Room Occupancy buildings (MDL section 248 SRO's) - 2.0%

Except that the allowable level of rent adjustment over the lawful rent actually charged and paid on September 30, 2006 shall be 0% if permanent rent stabilized or rent controlled tenants paying no more than the legal regulated rent, at the time that any rent increase in this Order would otherwise be authorized, constitute fewer than 80% of all units in a building that are used or occupied, or intended, arranged or designed to be used or occupied in whole or in part as the home, residence or sleeping place of one or more human beings.[/quote]
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