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New Yorkers who live in rent-stabilized apartments will soon pay higher rents \u2014 3.25 percent more on one-year leases and 5 percent more on two-year leases \u2014 the sharpest increase in nearly a decade.
If you're living in a rent-stabilized apartment, your landlord has a fixed cap on any intended rent increase. The limits are calculated by the Rent Guidelines Board each year. In 2020, the maximum rent increase for rent-stabilized apartments was fixed at 1.5% for 1-year leases and 2.5% for 2-year leases.
If your landlord does not renew your lease and you remain in the apartment, be prepared for your landlord to start an eviction case in housing court agasint you. The case will likely be a holdover case, meaning that your landlord is asking for the right to evict you even if you're willing to pay the rent.
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People also ask

In California, residential rental agreements automatically convert to month-to-month tenancies at the end of your lease term. At the end of each month thereafter, the agreement renews automatically for themselves in perpetuity, as long as you the tenant remains in possession of your home.
Renewal of a Lease When a residential lease comes to the end of its term, it renews automatically without need of a notice. The lease is renewed for the same duration (except for a lease of a duration of 12 months or more which only renews for 12 months).
For one-year increase periods commencing on or after October 1, 2022 and on or before September 30, 2023: 3.25% For two-year increase periods commencing on or after October 1, 2022 and on or before September 30, 2023: 5%
\u201cOn average, rentals that were listed in 2020 or 2021 and relisted in Q2 2022 showed a 20.4% increase in asking rents per year.\u201d A separate report from Douglas Elliman and Miller Samuel showed the average rent in Manhattan surged past $5,000 in June, a record-setting high.
Lease Extension Request for [Rental Address] Dear [Landlord's Name], Please accept this letter as a formal request for an extension to the lease for [Property Address]. Currently, the lease is set to expire on [date]. I would like to amend that date to end on [new date].

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