The NYC Rent Guidelines Board (RGB) establishes the permissible rent adjustments for the City's one million dwelling units subject to the Rent Stabilization Law.
Each year, prior to releasing its data, the RGB's members conduct a series of public meetings -- to consider testimony from an array of parties, including owners, tenants, advocacy groups and industry experts -- and examine statistics compiled by the RGB's staff.
On June 27, 2007, the RGB authorized the following increases for renewal leases beginning on or after October 1, 2007, and on or before September 30, 2008:
RENT-STABILIZED UNITS
3.00% for 1 year renewal
5.75% for 2 year renewal
2.50% for 1 year renewal
5.25% for 2 year renewal
For a copy of the 2007 Apartment & Loft Order # 39, please click on the following link: Order # 39
For a copy of 2007 increase-related data released by the NYC Rent Guidelines Board, please click on the following link: Explanatory Statement
