Vacancy Increases: Effective June 24, 2011, rent increases legally permitted upon vacancy may not be taken more than once in any calendar year (January 1 – December 31).
Individual Apartment Improvements: Effective September 24, 2011, individual apartment improvements completed in buildings with more than 35 apartments allow the landlord to permanently increase the legal regulated rent by 1/60th of the cost of the improvements (was 1/40th under the prior rent law). For improvements done in apartments located in buildings containing 35 units or less, passing along the 1/40th of the cost of improvements has remained unchanged.
High-Rent/ Vacancy Deregulation: Effective June 24, 2011, this provision allows for the deregulation of an apartment upon vacancy if the legal regulated rent reaches $2,500 (up from $2,000 under the prior rent law).
High-Rent/High-Income Deregulation: Effective July 1, 2011, this provision permits, by order of DHCR, upon application by the building owner, the deregulation of an apartment with a monthly legal regulated rent of $2,500 or more (up from $2,000 under the prior rent law) if household income is in excess of of $200,000 in each of the two preceeding calendar years (up from $175,000 under the prior rent law). These new thresholds apply to proceedings commenced in the 2012 cycle, not to proceedings filed prior to July 1, 2012.