NYC Increase in Rent (for Rent Controlled Units)

If you own a rent controlled unit in New York City, you are no stranger to the difficulty of understanding the regulations governing rent controlled properties. One of the limitations of a rent controlled apartment is (spoiler alert) restrictions on the amount that can be charged for rent. This document informs tenants of any rent increase, but also helps landlords calculate exactly how much can be charged. The properties that are covered under rent stabilization are apartments that are in buildings of six or more units and were built before February 1, 1947.

This document is used for an apartment building which received a 2010-11 order of Eligibility or a 2010-11 Computed Order of Eligibility. These are issued by the New York State Division of Housing and Community Renewal. This form designed to assist in calculating the Maximum Base Rent and Maximum Collectable Rent for a rent-controlled apartment that has not had an increase or decrease in the past. If you are anything like us and the thought of crunching numbers makes your skin crawl, don’t panic! This document walks you through each step of the calculation to determine the maximum amount that can be charged for the unit.

The NYC Increase in Rent form must be completed and signed by the property’s owner and then served to the tenant of the rent controlled apartment. This document must be agreed upon by both the landlord and tenant in order to proceed. If for any reason, the tenant challenges the proposed statements, it must be complete within thirty-five days after receiving the notice.

This document gives a clear outline for both landlord and tenant on instructions on how to read and understand the document. You can download this document and it will be available in pdf format for printing and viewing purposes.