Market rate apartment rental rates and lease terms are negotiated between the owner and tenant. The New York City Rent Guidelines Board (NYCRGB) determines rent increases for lease renewals of rent stabilized apartments, lofts, hotels and single room occupancies (SROs).

It does not set the rent increase for unregulated apartments or subsidized housing. Rent increase percentages for rent stabilized apartments and lofts are adjusted each year.

For renewal leases beginning between October 1, 2019, through September 30, 2020, the rent increase for rent stabilized apartment and loft renewals is:

  • 1-year lease: 1.5%
  • 2-year lease: 2.5%

Effective June 14, 2019 any tenant who is paying a preferential rent must be offered, for the rest of their tenancy, a lease renewal with a guideline increase that is based on the preferential rent. The legal rent cannot be collected until the apartment is vacated.

You can get information about renewal lease rates that apply to rent stabilized apartments, hotels, and SROs:

Online

Visit the Rent Guidelines Board website.

View previous apartment and loft rent increase orders.

By Phone

Call 311 for assistance.

Legal Regulated Rent

The amount of rent that the landlord is allowed to charge for an apartment as established by the rent stabilizing laws.

Preferential Rent

A preferential rent is a rent that an owner agrees to charge that is lower than the legal regulated rent that the owner could lawfully collect.

In 421-a (16) buildings, apartments initially rented at an amount at or above the market rate threshold qualify for permanent exemption from rent stabilization. In 421-a (16) buildings, an  apartment that is rent stabilized and then vacated also qualifies for permanent exemption if the market rate threshold has been lawfully reached.