Establishes criteria for the rent guidelines board to determine annual rent adjustments.

The bill amends the administrative code of New York City to establish criteria for the rent guidelines board to use when determining annual rent adjustments. It requires the board to include properties of all sizes in its assessment, create categories of property owners, identify and publish data sources for rent adjustments, and prohibit hardship rent increases for certain large real estate investors. The changes take effect immediately.

Establishes criteria for the rent guidelines board to determine annual rent adjustments.

The bill amends the administrative code of New York City to establish criteria for the rent guidelines board to use when determining annual rent adjustments. It requires the board to include properties of all sizes in its assessment, create categories of property owners, identify and publish data sources for rent adjustments, and prohibit hardship rent increases for certain large real estate investors. The changes take effect immediately.