Rent Guidelines Order No. 37

For leases commencing between October 1, 2005 through September 30, 2006

Renewal Guidelines – Owner Provides Heat:

One-year lease...............2.75%

Two-year lease...............5.5%

Renewal Guidelines – Tenant Pays For Heat:

One-year lease..................2.25%

Two-year lease................ 4.5%

No Supplemental Adjustment.

Only as permitted by State statutory vacancy allowances*:

One-year lease........17.25% (17.75% if tenant pays for heat)

Two-year lease................20%

Vacancy allowance for sublets........10%

*See page 9 of July/August 2005 RSA Reporter for State statutory vacancy allowance calculations.

Special Guideline For Decontrolled Units Entering Stabilization:

50% Above Maximum Base Rent; or,

the appropriate Fair Market Rent for Section 8 housing as established by

HUD for the New York City PMSA adjusted for gas and electric charges, whichever is greater.