When do you renew your apartment and loft lease?

Order #46 – Apartment and loft lease renewals commencing between October 1, 2014 and September 30, 2015 Order #45 – Apartment and loft lease renewals commencing between October 1, 2013 and September 30, 2014 Order #44 – Apartment and loft lease renewals commencing between October 1, 2012 and Septe

When do rent stabilized apartments in NYC expire?

For information on rent stabilized apartments outside of NYC, please contact the NYS Homes and Community Renewal (HCR). Order #52 – Apartment and loft leases commencing between October 1, 2020 and September 30, 2021 Order #51 – Apartment and loft lease renewals commencing between October 1, 2019 and Septe

When do rent increases go into effect in New York?

The increases will be in effect for rent-stabilized tenants who renew leases after Oct. 1. Tenants rallied in May at a public hearing of the Rent Guidelines Board. Credit… [What you need to know to start the day: Get New York Today in your inbox.]

Can a landlord increase the rent on a rent stabilized apartment?

If you live in a rent-stabilized apartment, your rent may go up by a maximum of 1.5 percent for one-year leases. If you have a two-year lease, your landlord can now increase your rent by up to 2.5 percent.

What happens to your rent when your lease is up?

This tactic is often used when the rental market isn’t as promising as expected. For instance, if your monthly rent is $1,200, but your lease states a concession of $50, then you will only be paying $1,150 in rent. Though concession fees are great for renters, they may not stick around for your lease renewal.

When did New York state rent law change?

On June 14, 2019, Albany lawmakers approved, and Governor Cuomo signed. This legislation changes New York State’s rent laws. The main focus of many has been on the changes to the State’s rent stabilization law. However, landlords and tenants should understand that the legislation’s effects go beyond rent stabilization.

When does it make sense to renew a one year lease?

The benefits of a one-year lease renewal agreement are pretty obvious since you get to increase rent if you desire and lock in the same tenant for another year. I think it makes the most sense to force the tenant to sign another lease since you avoid turnover and you have the ability to raise rent at that time.

Are there any changes to the Rent Stabilization Law?

The main focus of many has been on the changes to the State’s rent stabilization law. However, landlords and tenants should understand that the legislation’s effects go beyond rent stabilization. The new bill implemented significant changes to rent stabilization laws and real property law. Most of the changes affect rent-stabilized units.