On June 21, 2023, the Rent Guidelines Board (RGB) approved new rent increases as follows:
- Rent Stabilized Apartment Guidelines
- For a one-year lease commencing on or after October 1, 2023 and on or before September 30, 2024:
- 3.00%
- For a two-year lease commencing on or after October 1, 2023 and on or before September 30, 2024:
- 2.75% (1st year of the lease); and
- 3.2% (2nd year of the lease) of the amount lawfully charged in the first year, excluding any increases other than the first-year guideline increase.
- For a one-year lease commencing on or after October 1, 2023 and on or before September 30, 2024:
- Special Guideline Maximum Base Rent (MBR): +27%