NYC Rent Guidelines Board Apartment/Loft Order No. 52

Citation: NYC Rent Guidelines Board Apartment/Loft Order No. 52
Parent Document: NYC Rent Guidelines Board Apartment/Loft Order No. 52
Jurisdiction: NYC (municipal)
Effective Date: 2020-10-01
Original Source: https://rentguidelinesboard.cityofnewyork.us/wp-content/uploads/2021/06/2020-... ↗

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Where a lease for a dwelling unit in effect on May 31, 1968 or where a lease in
effect on June 30, 1974 for a dwelling unit which became subject to the Rent
Stabilization Law of 1969, by virtue of the Emergency Tenant Protection Act of
1974 and Resolution Number 276 of the New York City Council, contained an
escalator clause for the increased costs of operation and such clause is still in
effect, the lawful rent on September 30, 2020 over which the fair rent under this
Order is computed shall include the increased rental, if any, due under such
clause except those charges which accrued within one year of the
commencement of the renewal lease. Moreover, where a lease contained an
escalator clause that the owner may validly renew under the Code, unless the
owner elects or has elected in writing to delete such clause, effective no later
than October 1, 2020 from the existing lease and all subsequent leases for such
dwelling unit, the increased rental, if any, due under such escalator clause shall
be offset against the amount of increase authorized under this Order. SPECIAL ADJUSTMENTS UNDER PRIOR ORDERS

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