All New York City rent stabilized leases commencing on or after October 1, 2024 and through September 30, 2025 fall under New York City Rent Guidelines Board 2024 Apartment & Loft Order #56 (“RGB Order,” a copy of which can be found here: RGB Order #56). Pursuant to the RGB Order, owners are authorized to adjust legal regulated rents by the following:
| 1-Year Guideline Adjustment | 2-Year Guideline Adjustment | |
| New York City | 2.75% | 5.25% |
| Nassau | 1.5% | 2.5% |
| Rockland | 2.0% | 3.0% |
| Westchester | 2.5% | 3.5% |
| Kingston | 0.0% | 0.0% |
| Poughkeepsie | To Be Determined | To Be Determined |
Consequently, the Division of Housing and Community Renewal has issued an updated Form RTP-8 (inside NYC) and RTP-8 ETPA (outside NYC) Rent Stabilized Renewal Lease Forms. The appropriate Guideline increases under RGB Order #56 should be entered in Section 2 Column C.
Contact Us
For assistance completing the updated renewal lease form or preparing a rent stabilized vacancy lease in accordance with RGB Order #56, contact your BBG attorney of record.
Written by Logan O’Connor, Partner, Administrative Law Department