Thursday, June 21, 2012

Rent Guidelines Board orders for 2012

If your lease renewal goes into effect any time from October 1, 2012 through September 30, 2013,  how much your BASE RENT will increase depends on what your current rent is.

If your current rent is $1000 or more, you will pay

  • 2% increase for a 1-year lease renewal
  • 4% increase for a 2-year lease renewal.                              
But if your current rent is less than $1000, you will pay   

  • $20 increase for a 1-year lease renewal
  • $40 increase for a 2-year lease renewal.
The Rent Guidelines Board (RGB) has imposed this "poor tax" so that tenants whose rents are below $1000 - usually older tenants who've been in their homes longer (or whose building had Bob Woolis help keep the rents low under Mitchell-Lama as we did!) will pay higher increases.  

NY 1 reports:  
According to studies conducted by the Rent Guidelines Board, the majority of rent-stabilized tenants cannot afford their apartments.

Market rate tenants, it's time to try to get your apartment back into rent stabilization!  Click here for more information, and if you qualify, contact a member of the Executive Committee of the CPG Tenant Association for help.