On June 21, 2023, the New York City Rent Guidelines Board (RGB) gave the approval for the annual rent increases for leases commencing October 1, 2023, through September 30, 2024:
• For a one-year lease commencing on or after October 1, 2023, and on or before September 30, 2024: 3%
• For a two-year lease commencing on or after October 1, 2023, and on or before September 30, 2024: 3%
o For the first year of the lease, 2.75%; and
o 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."
To comply with the implementation of the rent adjustments enacted by Order #55, which includes rent stabilized leases commencing on or after October 1, 2023and through September 30, 2024, NYCHA has implemented the following:
NYCHA will only require ONE lease renewal submission (NYS HCR Renewal Lease Form Completion, effective 6/23): for the one-year and two-year leases:
1. One-year lease term:No change to the submission process
2. Two-year lease term- NYCHA will process the two-year lease renewal, increase for the first year of the lease of 2.75%, upon completion of a successful rent reasonableness evaluation. Once the increase in rent is found to be reasonable, NYCHA will automatically process the second year increase and you do not resubmit the lease renewal
Note: NYCHA complies with HUD regulations and conducts a rent reasonableness evaluation for all lease renewals and contract rent changes.If the rent is found not reasonableness at any point of the lease renewal process, including at start of the 2nd year increase, then NYCHA will notify you via mail.
In June 2019, the Housing Stability and Tenant Protection Act of 2019 (“TPA of 2019”) became law. Lease renewals and contract rent changes, processed after the passing of TPA of 2019, are subject to the law. Please make sure all lease renewals and contract rent changes submitted to NYCHA comply with the TPA of 2019. If you have any questions regarding the TPA of 2019, please contact the Office of Rent Administration at New York State Homes and Community Renewal.
As an owner participating in the Housing Choice Voucher (Section 8) program, you can renew the lease with your tenant(s) when the existing lease is set to expire. All lease renewals and contract rent change submissions must comply with the Housing Stability and Tenant Protection Act of 2019 (TPA) and be sent to NYCHA prior to the expiration for processing. Below is an overview of the lease renewal process:
In addition to submitting a written lease renewal request, you must also submit applicable supporting documents. A list of the documents that must be provided based on the type of unit you own is provided on the back of the NYCHA "Landlord Request for Lease Renewal Approval" form.
NYCHA will not process a lease renewal request until all required documents have been submitted and, the rent has been determined reasonable.
You will be notified in writing of the outcome of the review. If approved, you and the tenant will be notified of the new tenant share, NYCHA’s share to the owner, and the effective date of the change. You can also see the status of your request on the Owner Extranet.
HUD requires NYCHA to determine rent reasonableness to ensure that rents charged by owners to Section 8 participants do not exceed rents currently being charged for comparable unassisted units in the private market. NYCHA considers the following factors when determining rent reasonableness: location; unit size and type; age of the subject unit; property amenities and services; and utilities provided by the owner as specified by the lease.
A rent reasonableness evaluation is conducted prior to entering into the HAP contract with an owner and approving a rent increase. NYCHA utilizes a third party vendor, AffordableHousing.com, for all rent reasonableness evaluations. AffordableHousing.com utilizes both a unit to unit and unit to market approach to select the closest and most similar unassisted units within the given area.
Reminder: On June 21, 2022, the NYC Rent Guidelines Board enacted Order Number 54 (Order #54), to implement the following annual rent adjustment for rent stabilized leases commencing between October 1, 2022 and September 30, 2023: one-year lease = 3.25%. For two- year leases = 5.0%. NYCHA will comply with the implementation of the rent adjustments enacted by Order #54, which includes rent stabilized leases commencing on or after October 1, 2022 and through September 30, 2023,as follows:
All lease renewal requests for rent stabilized units also require the submission of the "New York City Lease Rider for Rent Stabilized Tenants"
1. One-year lease term:
2. Two-year lease term:
NYCHA complies with HUD regulations that require a rent reasonableness determination for all lease renewals and contract rent change requests. NYCHA will process the lease renewal and/or contract rent change once the rent increase in rent is found to be reasonable. If the rent is found not reasonable, then NYCHA will notify you by mail.
Voucher holders have the option to transfer to a new unit when their lease expires or is set to expire within 60 days. Below is an overview of NYCHA's transfer process:
As an owner, you must complete and return the following documents before the rental will be approved:
NYCHA will review the completed briefing package, and once approved, you must call the Customer Contact Center to schedule an inspection of the new unit. NYCHA will only approve the new unit if it passes inspection. Once the unit passes inspection, NYCHA will issue the voucher holder a move-in letter authorizing them to move into the new unit.