How Do Rent Control & Rent Stabilization Impact a Lease Renewal?

There are many rules about rent-controlled and rent-stabilized apartments in NYC, and some of those rules will affect your lease renewal. A landlord cannot just change the terms of a lease however they want to. We have helped other clients with rent control & rent stabilization rent overcharges and other related issues in the past, and we are ready to assist you.

How Much Can a Lease Renewal Increase My Rent?

This depends on whether your apartment benefits from rent control or rent stabilization. With rent stabilization, landlords can only raise rent in accordance with rules set by the New York City Rent Guidelines Board, or RGB. The only time a landlord can raise your rent more than that is if they can show that they made major improvements to the building or your apartment.

Currently, the guidelines say that a lease renewal signed between now and September 30, 2024 can raise rent 3% if you renew for a year. If you renew for two years, then the first year’s rent can rise by a maximum of 2.75% and the second year’s rent can increase by up to 3.20%.

People living in a unit with rent control actually do not need to sign a lease renewal. It is assumed that they are staying and that their tenancies are statutory. The rent can still rise though, but landlords are tightly bound by the Maximum Base Rent system that gets updated every two years.

How Long Can a Lease Renewal Last?

In most situations, a tenant of a rent-stabilized apartment must be offered a lease renewal. Tenants can choose to renew for one or two years. As we mentioned above, how long you choose to renew a lease for can affect how much your rent can increase by.

What Are the Deadlines For a Lease Renewal in NYC?

Your landlord must send you notice and give you the opportunity to renew your lease for a rent-stabilized apartment. They should be notifying you of your options between 90 and 150 days of your initial lease period ending. Then a tenant who wishes to renew can sign and return their lease renewal within 60 days. A landlord or tenant who does not abide by these rules could face legal troubles.

A landlord also needs to provide notice to a rent-controlled tenant when the MBR has given them license to increase rent.

Do I Need an Attorney?

If you are not being offered a lease renewal or your lease is increasing by more than the legally allowable amount, then you may want to talk to a tenants’ rights lawyer. An attorney from our firm can tell you if your rights are being violated or if you are being taken advantage of.

Contact Our Law Firm Today

So if you suspect that you are being treated unfairly or you’re not being offered reasonable lease terms, contact Robert Rosenblatt & Associates. We can offer you a free initial consultation, and there is no obligation. Take the time to learn more about your legal options.