1. What is the Rent Increase Calculator?

The Rent Increase Calculator helps tenants and landlords in New York City determine the allowable rent increase for rent-stabilized units based on the annual RGB (Rent Guidelines Board) percentage increases.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• Current Rent — The current monthly rent amount
• RGB Guidelines — The percentage increase set by the Rent Guidelines Board (e.g., 2.75% for 2023)

Explanation: The calculation determines the dollar amount of rent increase allowed under NYC rent stabilization laws.

3. Importance of Rent Increase Calculation

Details: Accurate rent increase calculation is crucial for both landlords and tenants in rent-stabilized units to ensure compliance with NYC housing laws and regulations.

4. Using the Calculator

Tips: Enter your current rent amount and the applicable RGB percentage (e.g., 2.75 for 2023). The calculator will show both the dollar amount of the increase and the new rent amount.

5. Frequently Asked Questions (FAQ)

Q1: What is the Rent Guidelines Board (RGB)?
A: The RGB is a New York City board that sets maximum allowable rent increases for rent-stabilized apartments each year.

Q2: How often can rent be increased in rent-stabilized units?
A: For rent-stabilized units, rent can typically be increased once per year upon lease renewal.

Q3: Are there different rates for 1-year and 2-year leases?
A: Yes, the RGB typically sets different percentages for 1-year and 2-year lease renewals.

Q4: Does this apply to all NYC apartments?
A: No, this only applies to rent-stabilized apartments, which represent about half of NYC's rental market.

Q5: Where can I find the current RGB percentage?
A: The RGB percentages are published annually on the NYC Rent Guidelines Board website.