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Rent Freeze Program Updates
Rent Freeze Program Updates
State rent regulation laws were updated in 2019, changing the way the New York City Rent Freeze Program processes rent increases.
These bulletins outline how the changes affect Rent Freeze applications and adjustments. This information may be updated in ac cordance with additional guidelines issued by New York State Homes and Community Renewal (HCR).
For rent-controlled units, landlords apply with New York State Homes and Community Renewal for annual rent increases and fuel cost adjustments. The Rent Freeze Program freezes the rent of program participants, and allowable rent increases are covered by a tax abatement credit (TAC) to the landlord.
What’s new?
- Fuel costs can no longer be added to tenants’ rent.
- Annual maximum collectible rent increases are limited to the average of the last five Rent Guidelines Board increases for one-year leases, or 7.5%, whichever is less.
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What’s new for leases beginning on or after June 14, 2019?
- New Rent Freeze applicants who have a preferential rent agreement and meet all program eligibility criteria can have their rent frozen at their preferential rent amount. The tax abatement credit issued to landlords will be based upon rent increases to the preferential rent amount.
- For current Rent Freeze Program participants: If your frozen rent is based upon the legal regulated rent, the next time you renew, if you continue to meet all eligibility criteria, your rent may be re-frozen at the preferential rent amount on the lease in effect June 14, 2019.
For rent-regulated units, landlords apply with New York State Homes and Community Renewal for rent increases for major capital improvements (MCI). The Rent Freeze Program freezes the rent of program participants, and allowable rent increases, such as MCIs, are covered by a tax abatement credit (TAC) to the landlord.
What’s new?
- The yearly increase limit has been reduced from 6% to 2%. The 2% cap is applicable prospectively for any MCIs issued since June 16, 2012.
- The MCI retroactive increase is eliminated.
- MCI rent increases are temporary and will expire after 30 years. The new changes will not affect the frozen rent of current participants; however, they will affect the TAC associated with future MCIs that exceed the new 2% cap.