DHCR issues updated lease renewal form

The NYC Renewal Lease Form (RTP-8) has been updated by DHCR to include the guidelines specified in Rent Guidelines Board Order #54. The updated order allows for a 3.25% increase on one-year renewal leases and a 5% increase on two-year renewal leases. This latest DHCR Renewal Lease Form must be used for all renewal leases from now on. You can find the form at https://hcr.ny.gov/system/files/documents/2022/07/rtp-8-07-2022-fillable.pdf.

The lease renewal process for rent-stabilized apartments requires landlords to offer renewal leases for one or two years at a rate determined by the Rent Guidelines Board. The offer must be made on a DHCR Renewal Lease Form (RTP-8) through electronic means, mail, or personal delivery, between 150 and 90 days before the existing lease expires. If the tenant does not respond within 60 days, the landlord can refuse to renew the lease and start eviction proceedings. Once the tenant signs and returns the lease form, the landlord must provide a fully signed copy within 30 days. The lease and any rent increase cannot start retroactively, and the renewal lease must maintain the same terms as the expiring lease unless required by law. Additionally, the New York City Lease Rider For Rent Stabilized Tenants, which explains the computation of the proposed rent and the rights and obligations of tenants and landlords under the Rent Stabilization Law, must be attached to the renewal lease form.