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Int. No. 70 would extend the expiration of the Citys Rent Stabilization Law from April 1, 2022 to July 1, 2022.
In New York City, apartments are under rent stabilization if they are in buildings of six or more units built between February 1, 1947, and December 31, 1973. Tenants in buildings built before February 1, 1947, who moved in after June 30, 1971, are also covered by rent stabilization.
Tenants also have a guaranteed right to renew the lease. If the rent eventually raises to over $2,700 or the tenant leaves (known as vacancy decontrol) the stabilized apartment can become deregulated. However, if the tenants household income is less than $200,000, the unit will remain rent-stabilized.
The only way to know if your apartment is rent stabilized is to contact NYS Homes and Community Renewal (HCR), the state agency which administers the rent laws. You can use the Ask HCR web portal to find out if your apartment is rent stabilized.
Rent stabilization sets maximum rates for annual rent increases and, as with rent control, entitles tenants to receive required services from their landlords along with lease renewals. The rent guidelines board meets every year to determine how much the landlord can charge.
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In New York City, apartments are under rent stabilization if they are in buildings of six or more units built between February 1, 1947, and December 31, 1973. Tenants in buildings built before February 1, 1947, who moved in after June 30, 1971, are also covered by rent stabilization.
For a one-year lease commencing on or after October 1, 2021 and on or before September 30, 2022: 0% for the first 6 months of the lease and. 1.5% for the remaining 6 months of the lease.
Rent increase explained In September 2021 inflation was 3.1%, and by January 2022 it had risen to 5.5%. This year the government formula allows us to increase rents by up to 4.1%. This is equivalent to the inflation rate in September plus 1%.
Rent increase explained In September 2021 inflation was 3.1%, and by January 2022 it had risen to 5.5%. This year the government formula allows us to increase rents by up to 4.1%. This is equivalent to the inflation rate in September plus 1%.
For a one-year lease commencing on or after October 1, 2021 and on or before September 30, 2022: 0% for the first 6 months of the lease and. 1.5% for the remaining 6 months of the lease.

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