The following guidelines, established by the New York City Rent Guidelines Board, applies to leases commencing between October 1, 2007 through September 30, 2008.
- One-year lease: 4.25%
- Two-year lease: 7.25%
No supplemental adjustment.
Only as permitted by State statutory vacancy allowances:
- One-year lease: 17%
- Two-year lease: 17%
- Vacancy allowance for sublets: 10%
No minimum rent.
Special Guideline For Decontrolled Units Entering Stabilization
Maximum Base Rent plus 150% plus fuel adjustment; or, the appropriate Fair Market Rent for Section 8 housing as established by HUD for the New York City PMSA adjusted for gas and electric charges, whichever is greater.