Rent Guidelines Order No. 40

New York City Rent Guidelines Board Rent Guidelines Order No. 40 For leases commencing between October 1, 2008 through September 30, 2009
RENEWAL GUIDELINES :
Owner provides heat: One-year lease...................4.5% Two-year lease...................8.5% Minimum: One-year lease..............$45, Two-year lease..............$85 Tenant provides heat: One-year lease...................4.0% Two-year lease...................8.0% Minimum: One-year lease..............$40, Two-year lease..............$80 *(Minimum rent applies if no vacancy lease in last 6 years.)
VACANCY ALLOWANCE:
Only as permitted by State statutory vacancy allowances: One-year lease...................16% Two-year lease...................20% Vacancy allowance for sublets........10% (See the RSA Reporter page 6 for statutory vacancy allowance and page 5 renewal guidelines calculations.)
STABILIZED LOFT RENEWAL GUIDELINES:
Lease Renewals: For one-year lease……….3.5% For two-year lease……….6.5%
HOTEL RENT ADJUSTMENTS:
October 1, 2008 shall be: Residential Class A (apartment) hotels…….4.5% Lodging houses…...................................…….4.5% Rooming houses (Class B buildings containing less than 30 units) ……....................................4.5% Class B hotels…......................................…….4.5% Single Room Occupancy buildings (MDL section 248 SRO’s) ……...................…4.5%
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.