For a one-year renewal lease commencing on or after October 1, 2008 and on or
before September 30, 2009: 4.5% or $45, whichever is greater.
For a two-year renewal lease commencing on or after October 1, 2008 and on or
before September 30, 2009: 8.5% or $85, whichever is greater.
Where heat is neither provided nor required to be provided to a dwelling unit by an owner
from a central or individual system, 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: 4.0%
1
For a two-year renewal lease commencing on or after October 1, 2008 and on or
before September 30, 2009: 8.0%
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:
For a one-year renewal lease commencing on or after October 1, 2008 and on or
before September 30, 2009: 4.0% or $40, whichever is greater.
For a two-year renewal lease commencing on or after October 1, 2008 and on or
before September 30, 2009: 8.0% or $80, whichever is greater.
Adjustments for renewal leases 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
No vacancy allowance is permitted except as provided by sections 19 and 20 of the Rent
Regulation Reform Act of 1997.
ADDITIONAL ADJUSTMENT FOR RENT STABILIZED APARTMENTS SUBLET
UNDER SECTION 2525.6 OF THE RENT STABILIZATION CODE