DHCR Issues New Renewal Lease Form to Reflect RGB Order #56

by | Jul 8, 2024 | Industry Updates

As we advised in our recent client email blast, the NYC Rent Guidelines Board issued Order #56 authorizing rent increases for rent stabilized apartments and lofts commencing between October 1, 2024 through September 30, 2025. The guideline increases are as follows:

  • One-year lease: 2.75%
  • Two-year lease: 5.25%

DHCR has now released its new renewal lease form which should be used for all renewal lease offers until further notice. Note that the new two-year guideline increase operates differently, and more simply, than the immediately preceding “split” two-year guideline increase.

We encourage you to reach out to your trusted R&E attorney or Zachary J. Rothken, Head of the firm’s Administrative Law Department, who authored the above, with any questions to ensure that your leases are offered properly and timely.