1. What is Rent Increase Calculation?

The Rent Increase Calculator helps determine the allowable rent increase for NYC rent-stabilized units based on the annual RGB (Rent Guidelines Board) percentage increase.

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 multiplies the current rent by the RGB percentage (converted to decimal) to determine the dollar amount of the increase.

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 in USD/month and the current RGB guideline percentage (e.g., 2.75 for 2.75%). Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the RGB?
A: The Rent Guidelines Board (RGB) is a NYC agency that sets annual rent increases for rent-stabilized apartments.

Q2: Are all NYC apartments rent-stabilized?
A: No, only about 1 million of NYC's 2.2 million rental units are rent-stabilized.

Q3: When are new RGB rates announced?
A: Typically in June, with increases taking effect for leases beginning on or after October 1st.

Q4: Are there different rates for different lease terms?
A: Yes, RGB sets different percentages for 1-year and 2-year lease renewals.

Q5: Where can I find the current RGB percentage?
A: Check the official NYC Rent Guidelines Board website for current rates.