Rent Increase CPI Calculator For NYC

Rent Increase Formula:

\[ \text{Rent Increase} = \text{Current Rent} \times \left(1 + \frac{\text{RGB Guidelines}}{100}\right) \]

Rent Increase:

New Monthly Rent:

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1. What is the Rent Increase Calculator?

The Rent Increase Calculator helps tenants and landlords in NYC calculate allowable rent increases for rent-stabilized units based on the annual percentage set by the Rent Guidelines Board (RGB).

2. How Does the Calculator Work?

The calculator uses the standard formula:

\[ \text{New Rent} = \text{Current Rent} \times \left(1 + \frac{\text{RGB Percentage}}{100}\right) \]

Where:

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

3. Importance of Rent Guidelines

Details: The NYC Rent Guidelines Board sets annual increases for rent-stabilized apartments. These guidelines help maintain affordable housing while considering operating costs for landlords.

4. Using the Calculator

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

5. Frequently Asked Questions (FAQ)

Q1: What is a rent-stabilized apartment?
A: Rent-stabilized apartments in NYC have regulated rent increases and renewal lease terms to protect tenants from large rent hikes.

Q2: How often does the RGB set new guidelines?
A: The RGB meets annually to determine the allowable percentage increases for one-year and two-year leases.

Q3: Does this apply to all NYC apartments?
A: No, only to rent-stabilized units. Market-rate apartments have no restrictions on rent increases.

Q4: When do new rent increases take effect?
A: For leases beginning on or after October 1st of each year.

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