How is a New York rent increase calculated when there is a percentage cap?

Question

Accepted Answer

Take the current monthly rent, multiply by the cap percentage, and that is the maximum dollar increase. For example, a 5 percent cap on $2,000 monthly rent gives a maximum increase of $100, for a new rent of $2,100. Where the cap is "5 percent plus CPI capped at 10 percent" (such as California's AB 1482), look up the relevant regional CPI for the prior 12 months on the Bureau of Labor Statistics website. If CPI is 3 percent: 5 plus 3 equals 8 percent allowed (under the 10 percent cap). If CPI is 6 percent: 5 plus 6 equals 11 percent which is capped at 10 percent. If CPI is negative: only the base 5 percent applies. Round to the nearest dollar. New York uses a tenure-based notice ladder at RPL 226-c: 30 days for tenancies under 1 year, 60 days for 1-2 years, 90 days for 2+ years. Only triggers if the increase exceeds 5% or the landlord does not renew. Good Cause Eviction (Part HH 2024) caps increases at CPI + 5% or 10% max in NYC and opt-in municipalities, with exemptions for small owner-occupied buildings and new construction. Use a calculator rather than rely on memory; small CPI errors compound over multi-year tenancies.