NEW YORK CITY RENT GUIDELINES BOARD
2007 Apartment & Loft Order #39
June 26, 2007
Order Number 39 - Apartments and Lofts, rent levels for leases commencing October
1, 2007 through September 30, 2008.
NOTICE IS HEREBY GIVEN PURSUANT TO THE AUTHORITY VESTED IN THE
NEW YORK CITY RENT GUIDELINES BOARD BY THE RENT STABILIZATION
LAW OF 1969, as amended, and the Emergency Tenant Protection Act of 1974, as
amended, implemented by Resolution No 276 of 1974 of the New York City Council and
extended by Chapter 82 of the Laws of 2003, and in accordance with the requirements of
Section 1043 of the New York City Charter, that the Rent Guidelines Board (RGB)
hereby adopts the following levels of fair rent increases over lawful rents charged and
paid on September 30, 2007. These rent adjustments will apply to rent stabilized
apartments with leases commencing on or after October 1, 2007 and through September
30, 2008. Rent guidelines for loft units subject to Section 286 subdivision 7 of the
Multiple Dwelling Law are also included in this order.
ADJUSTMENT FOR RENEWAL LEASES (APARTMENTS)
Together with such further adjustments as may be authorized by law, the annual
adjustment for renewal leases for apartments shall be:
For a one-year renewal lease commencing on or after October 1, 2007 and on or
before September 30, 2008: 3.0%
For a two-year renewal lease commencing on or after October 1, 2007 and on or
before September 30, 2008: 5.75%
These adjustments shall also apply to dwelling units in a structure subject to the partial
tax exemption program under Section 421a of the Real Property Tax Law, or in a
structure subject to Section 423 of the Real Property Tax Law as a Redevelopment
Project.
VACANCY ALLOWANCE FOR APARTMENTS