Office of Rent Administration
The Rent Act of 2015
The rent laws were extended for four more years through June, 2019. Details will be forthcoming in the weeks ahead in revised fact sheets. Major changes are summarized as follows….
- The rent threshold for high-rent vacancy deregulation and high income high-rent deregulation was raised from $2500 to $2700. The threshold will be adjusted January 1, 2016 and annually thereafter by the one year renewal lease guideline percentage increase issued the prior year by the Rent Guidelines Board for the locality.
- The amortization period for calculating major capital improvement rent increases has been modified from 84 months to 96 months for buildings with 35 or fewer units and to 108 months for buildings with more than 35 units.
- Monetary penalties for findings of harassment have been increased.
- If a vacating tenant was paying a preferential rent, the vacancy lease rent increase that can be applied to the vacating tenant’s legal rent will be limited to 5% if the last vacancy lease commenced less than two years ago, 10% if less than three years ago, 15% if less than four years ago and 20% if four or more years ago.
Our Core Case Processing
- In July, the Office of Rent Administration issued
- 63 Rent Overcharge Orders establishing legal rents and directing refunds in excess of $626,173
- 52 Lease Renewal Orders directing the issuance or correction of a lease renewal
- 147 Decrease in Services Orders directing that repairs be made and rents lowered until such time that repairs are made
- 14 Major Capital Improvement Orders for the installation of new items such as boilers, windows and roofs valued in excess of $2,450,000 benefiting over 574 apartments
- 136 building owners received technical assistance with online filings at the Borough/District Rent Offices and over 10,750 tenants and owners were given access to records, applications and information at these offices and by contacting the Info Line
Last Updated: 08/10/15