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RGB vote for 2016-2017 year

NYC Rent Regulation: Rent Control/Rent Stabilized, DHCR Practice/Procedures

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RGB vote for 2016-2017 year

Postby TenantNet » Mon Jun 27, 2016 8:18 pm

The NYC Rent Guidelines Board voted this evening for rent increases for Rent Stabilized apartments at a rate of 0% for one-year renewal leases and 2% for two-year renewal leases. The rates are the same as the 2015-2016 year, and will take effect starting October 1, 2016.
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Re: RGB vote for 2016-2017 year

Postby Cranky Tenant » Tue Jun 28, 2016 2:27 pm

Yay!

I wonder why the RGB voted for a 2% increase on 2 year renewal yet no increase for a year, for a second time in a row. There was a time when 2 year renewals were a better deal.
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Re: RGB vote for 2016-2017 year

Postby BubbaJoe123 » Wed Jun 29, 2016 6:06 am

The 2 year increase might yet turn out to be a better deal. Depends on what next year's 1 year increase looks like, and we don't know that. The zero increase this year was primarily driven by another sharp decline in fuel costs - if those spike again, could see a higher 1 year increase next year. I doubt it will be 4%, though, so I'd certainly take the risk and go with the 1 year lease again this year.
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