Affordable Housing FAQ – Rent Guidelines Board (2024)

FAQs

How much can a landlord raise rent in NYC in 2024? ›

For a two-year lease beginning on or after October 1, 2023, and on or before September 30, 2024: For the first year of the lease: 2.75% For the second year of the lease: 3.20% of the amount lawfully charged in the first year, excluding any increases other than the first-year guideline increase.

no limit on how much your landlord can increase your rent. However, your landlord must give you advanced written notice before they can raise your rent 5% or more. advance written notice. This applies to month-to-month tenants without a lease as well.

New Jersey has no statewide rent control laws in place. However, cities and counties can enforce their own rent control laws which must be followed if you own a property in one of these areas. Typically local rent control limits rent increases to between 2-6%, though it all depends on the area.

If you find that your apartment is not rent stabilized, there is no limit on the rent increase that can be charged at the end of your lease. If you have no lease, or your lease has expired, you are considered a “month-to-month” tenant.

the landlord of an intention not to renew the lease. (General Obligations Law § 5-905). If you have lived in your apartment for less than one year, or have a lease for less than one year, your landlord must provide you with 30 days advanced notice before raising your rent or not renewing your lease.

In NYC, an owner may refuse to renew a rent stabilized tenant's lease because the owner has an immediate and compelling need to possess the apartment for use as his or her primary residence or as a primary residence for his or her immediate family.

If they still haven't paid rent and continue living in the property by the end of the fourteen days, the landlord can continue with the eviction lawsuit. In the state of New York, landlords may charge a late fee for the late payment of rent. They may only do so after the statewide grace period of five days.

Landlords cannot raise rent more than 10% total or 5% plus the percentage change in the cost of living – whichever is lower – over a 12-month period. If the tenants of a unit move out and new tenants move in, the landlord may establish the initial rent to charge. (Civ. Code § 1947.12.)

Tenants who think they are being overcharged can file an overcharge complaint with the Office of Rent Administration (ORA). The Division of Housing and Community Renewal (DHCR) may order owners of rent stabilized apartments to lower the legal rent and refund excess rent collected based on a finding of rent overcharge.

Landlords in New Jersey cannot violate the implied warranty of habitability, discriminate against tenants, unjustly withhold security deposits, evict tenants without proper notice or due process, raise rent without giving proper notice, enter a tenant's dwelling without reasonable notice except in emergencies, or ...

What cities in NJ have rent control? ›

Most judges and legal services attorneys normally do not even consider a case of unfair rent increase as unconscionable unless it is a 20% increase or more. (NOTE: unless the rent increase is in a special approved program such as subsidized housing or State of NJ Very Low, Low or Moderate income program).

If you have been living in your home for over a year, your landlord must give at least 60 days notice. If you have been living in your home for more than 2 years, your landlord must give at least 90 days notice. rent as a security deposit.

Under the Rent Stabilization Law, an owner may begin an eviction proceeding when the current lease expires, but only after the tenant is given written notice that the lease will not be renewed. This notice must be served at least 90 and not more than 150 days before the current lease term expires.

The new guideline increases for rent stabilized lease commencing between October 1, 2023 and September 30, 2024: on a one-year lease or period, 3%

(NerdWallet) – An ongoing boom in apartment construction has helped slow down rental inflation — but renters shouldn't expect prices to drop dramatically from their pandemic-padded highs. That means affordability will remain the dominant narrative in rental housing in 2024.

What is Good Cause Eviction? Good Cause Eviction is a New York State law that went into effect on April 20, 2024. It gives some tenants of unregulated (also known as “market rate”) homes in New York City new protections.

How much has average rent changed in New York, NY? In the past year, rent has increased by 2.7%, which averages out to $101 more per month.

There are several municipalities that still have rent control in effect. These include New York City, Nassau, and Westchester counties. In New York City, rent control tenants are generally in buildings built before February 1, 1947, where the tenant is in continuous occupancy prior to July 1, 1971.