NEW YORK CITY RENT GUIDELINES BOARD
2008 Apartment & Loft Order #40
June 19, 2008
Order Number 40 - Apartments and Lofts, rent levels for leases commencing October
1, 2008 through September 30, 2009.
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, 2008. These rent adjustments will apply to rent stabilized
apartments with leases commencing on or after October 1, 2008 and through September
30, 2009. 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)
Where heat is provided or required to be provided to a dwelling unit by an owner from a
central or individual system at no charge to the tenant, the adjustments are as follows:
For a one-year renewal lease commencing on or after October 1, 2008 and on or
before September 30, 2009: 4.5%
For a two-year renewal lease commencing on or after October 1, 2008 and on or
before September 30, 2009: 8.5%
Provided, however, that where the most recent vacancy lease was executed six years
or more prior to the date of the renewal lease under this Order, the following shall
instead apply: