Despite pleas by city politicians for a rent freeze, the Rent Guidelines Board ordered increases in for lease whose renewal goes into effect any time from October 1, 2009 through September 30, 2010:
- 1-year lease renewal increase: the higher of $30* or 3%
- 2-year lease renewal increase: higher of $60* or 6%.
*That alternative only applies if the tenant has lived in that rent stabilized apartment for 6 years or more - and the apartment itself has been rent stabilized for at least 6 years. So the alternative does not apply to buildings that left Mitchell-Lama under 6 years ago.
