Lenox Terrace Association of Concerned Tenants (LT-ACT)
RENT GUIDELINES BOARD
INCREASES FOR RENT STABILIZED APARTMENTS
For a one-year renewal lease commencing on or after October 1, 2019 and ending September 30, 2020 the increase is 1.5%. For a two-year lease: 2.5%.
For a one-year renewal lease commencing on or after October 1, 2018 and ending September 30, 2019 the increase is 1.5%. For a two-year lease: 2.5%.
For a one-year renewal lease commencing on or after October 1, 2017 and on or before September 30, 2018 the increase is 1.25%.
For a two-year renewal lease commencing on or after October 1, 2017 and on or before September 30, 2018 the increase is 2%.
Universal Rent Laws Pass!
On Friday, June 14th the Democrats in the NYS Senate and Assembly passed a sweeping package of Universal Rent Laws. Gov. Andrew M. Cuomo immediately signed the package of bills after it was passed by the State Senate and Assembly on Friday. The new laws take effect immediately. The old laws were due to expire on Saturday, June 15th.
Important to LT residents, the laws make the preferential rent on your lease your new legal rent for the length of your tenancy. Owners can no longer increase the rent above the Rent Guidelines Board amounts by invoking "legal rent" increases. Many of those increases could be hundreds of dollars per month in extra rent to tenants. The laws also reform the charges an owner can charge a tenant through Major Capital Improvements (MCI's) and Individual Apartment Improvements (IAI's).
For more information on the laws:
New York Times article: https://nyti.ms/2XSLsoQ
Press release from Assembly Speaker Carl Heastie:
These laws are a great victory for tenants!
LT-ACT with Tenants & Neighbors in Albany lobbying
Carl Heastie - Speaker of the New York State Assembly and Andrea Stewart-Cousins - NYS Senate Majority Leader, architects of the passage of the Universal Rent Laws.
LENOX TERRACE NEWS
Copyright 2020 Lenox Terrace Association of Concerned Tenants
Important tenant information:
TO FILE A RENT OVER-CHARGE COMPLAINT,
Download Instructions & Form HERE.