Annual
Rent Increases
Under
rent control, landlords get an annual rent increase which can be imposed
on tenants without the landlord having to petition the Rent Board. The
landlord must give 30 days notice (or 60 days if this increase as well
as any other increases in the past 12 months result in a rent increase
of more than 10%). Landlords can "bank" these increases, that
is not impose an increase in one year but then impose that "banked"
rent increase in a later year.
Effective
March 1, 2007 through February 28, 2008, the annual allowable increase
amount is 1.5%.
.
PAST ALLOWABLE
INCREASES
Effective Period
Amount of Increase
March 1, 2006 - February 28, 2007 1.7%
March 1, 2005 - February 28, 2006 1.2%
March 1,
2004 - February 28, 2005 0.6%
March 1, 2003 - February 28, 2004 0.8%
March
1, 2002 - February 28, 2003 2.7%
March
1, 2001 - February 28. 2002 2.8%
March 1, 2000 - February 28, 2001 2.9%
March 1,
1999 - February 29, 2000 1.7%
March 1, 1998 - February 28, 1999 2.2%
March 1, 1997 - February 28, 1998 1.8%
March 1, 1996 - February 28, 1997 1.0%
March 1, 1995 - February 29, 1996 1.1%
March 1, 1994 - February 28, 1995 1.3%
March 1, 1993 - February 28, 1994 1.9%
December 8, 1992 - February 28,1993 1.6%*
March 1, 1992 - December 7, 1992 4%*
March 1, 1991 - February 29, 1992 4%
March 1, 1990 - February 28, 1991 4%
March 1, 1989 - February 28, 1990 4%
March 1, 1988 - February 28, 1989 4%
March 1, 1987 - February 29, 1988 4%
March 1, 1986 - February 28, 1987 4%
March 1, 1985 - February 28, 1986 4%
March 1, 1984 - February 28, 1985 4%
March 1, 1983 - February 29, 1984 7%
April 1, 1982 - February 28, 1983 7%
* Caution: Only ONE of these two increases may be imposed for the period
from March 1, 1992 - February 28, 1993, based on the anniversary date
or date of last increase.
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