RGB Adopts New Rent Increases (10/1/23 – 9/30/24)

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.
• Special Guideline Maximum Base Rent (MBR):  +27%