Do you live in a rent-stabilized apartment or an affordable housing unit? There are many regulations you should be aware of to ensure you are not being overcharged.
For tenants who live in a rent-stabilized apartment that receives a tax abatement the Rent Guidelines Board (RGB) provides FAQs where a lot of useful information can be found.
You can find out frequently asked
You can learn how to check how high your landlord can raise your rent and whether your apartment will be deregulated or not when the rent exceeds $2,733.72 per month. You can also find out how to look up when your landlord’s tax abatement expires and how it would impact your rent stabilized lease.
Most frequently asked question:
“Does my income qualify me for an affordable housing rental?”
Here is an income chart provided by the New York City Department of Housing Preservation and Development.
Frequently asked questions:
Q: How do I find out when the abatement on my building expires?
A: It should be included in your lease. If your lease does not include a clause indicating the date of the tax expiration then your landlord may not be entitled to deregulate the apartment.
Q: How high can my landlord raise the rent on my apartment once the apartment has been deregulated?
A: Once deregulated, landlords may raise the rent to market rate value.
Q: I live in a 421-a building. Can my landlord raise the rent in addition to the guidelines increases?
A: Landlords of 421-a buildings are allowed to tack on an additional 2.2% increase for the decrease in the value of the tax exemption over the period of the abatement.