Feature

Q & A on Collecting Security Deposits from Rent-Stabilized Tenants

June 20, 2018    
When renting rent-stabilized apartments, you probably require security deposits from tenants, in case they cause any damage. A security deposit is money that a tenant deposits with the owner of the apartment for the repair of any damages to the apartment for which the tenant is responsible. Various...
Management Basics

File 2018 Rent Registrations Online by July 31

June 20, 2018    
You must file an Annual Apartment Registration application with the DHCR for every rent-stabilized apartment you own by July 31, 2018, using the DHCR’s online Owner Rent Regulation Application system. As in past years, the penalty for not filing is stiff: You can’t collect a rent...
In the News

Advisory Commission to Recommend Reforms to Property Tax System

June 20, 2018    
Mayor de Blasio and Council Speaker Johnson recently announced the formation of a new advisory commission to develop recommendations to reform NYC’s property tax system with the goal of making it simpler, clearer, and fairer, while ensuring that there is no reduction in revenue used to fund...
In the News

State Audit Finds False Elevator Inspections, Overlooked Safety Hazards

June 20, 2018    
An audit by state comptroller Thomas DiNapoli found that annual elevator inspections by outside contracted companies need stronger oversight. The audit looked at work done by certified elevator inspectors who worked for companies contracted by the DOB. While the DOB has 48 staff inspectors (as of...
In the News

RGB Reports Changes to NYC's Rent-Stabilized Housing Stock

June 20, 2018    
The Rent Guidelines Board recently issued a report highlighting additions and subtractions of dwelling units to and from the rent stabilization system in 2017. These statistics are gathered from various city and state agencies. This report is an update of previous studies done annually since 2003...
Landlord v. Tenant

Landlord v. Tenant: July 2018

June 20, 2018    
RENT OVERCHARGE Landlord Failed to Prove Pre-Base Date Preferential Rent Rent-stabilized tenant complained of rent overcharge. The DRA ruled for tenant and ordered landlord to refund an overcharge. The DRA found that, since landlord failed to provide pre-base date rent history records to justify a...
Feature

City Council Approves Fire Safety Bills for Residential Buildings

May 22, 2018    
The City Council recently voted to approve a series of eight fire safety bills with the goal of making residential buildings safer. The bills were created in response to the Dec. 28, 2017, Bronx fire that killed 13 people, making it the city’s deadliest fire in more than a quarter century....
Management Basics

Six Exceptions to the Four-Year Rule for Overcharge Claims

May 22, 2018    
In January 2014, the DHCR adopted amendments to the Rent Stabilization Code (RSC). Among the amendments were more exceptions made to the “four-year rule”—the four-year statute of limitations or time limit to initiate an overcharge complaint. Generally, the statute of limitations...
Rent Increases

DHCR Issues New Operational Bulletin on Defective Work and MCI Rent Hikes

May 22, 2018    
The DHCR recently posted Operation Bulletin 2018-1 entitled, “The Effect of Defective Work on the Disposition of an Owner’s Application for a Major Capital Improvements (MCI) Rent Increase.” It provides guidance on the granting of MCI rent increases when there are defective...
Court Watch

NY High Court Rules in Favor of Owners in High-Rent Vacancy Deregulation Case

May 22, 2018    
On April 26, the New York State Court of Appeals handed down a landmark ruling in favor of rent-stabilized building owners by preventing them from having to re-regulate as many as 150,000 market-rate apartments. The Court unanimously reversed a 2015 decision of the Appellate Division, First...