Feature

DHCR Proposes Significant Amendments to Rent Stabilization Code

September 12, 2022    
On Aug. 31, the DHCR issued a notice of public hearing on proposed amendments to the Rent Stabilization Code. These proposed amendments have been in the works for two and a half years and would be the first update since 2014 to the Rent Stabilization Code, which governs roughly 1 million rent-...
Management Basics

Post Updated Energy Grades for Large Buildings by Oct. 31

September 12, 2022    
Similar to the Department of Health grades for restaurants, a building’s energy efficiency grade is a letter grade that must be posted by Oct. 31 if you own or manage an applicable building. Local Law 33 of 2018, as amended by Local Law 95 of 2019, requires all large building owners subject...
Management Basics

What You Need to Know for the 2022–23 "Heat Season"

September 12, 2022    
The beginning of New York City’s eight-month-long “heat season” is around the corner, and owners must meet temperature requirements to ensure apartments have heat and hot water during the colder months. During heat season, HPD responds to all heat and hot water complaints and, if...
In the News

NY Lawmakers Seek to Revive Fight Against Broker Fees

September 12, 2022    
There has been renewed interest to cap or limit broker fees paid by prospective tenants after some high-profile instances of brokers asking for thousands of dollars in fees in exchange for highly coveted apartments have made the news. In one case, a renter paid a broker fee of $19,500 for a rent-...
In the News

Comptroller's Plan Would Temporarily Legalize Basement Apartments

September 12, 2022    
Shortly before the one-year anniversary of Hurricane Ida, which resulted in 11 people drowned in basement apartments during the storm, New York City Comptroller Brad Lander released a report called “Bringing Basement Apartments into the Light.” The report proposes a path to legalize...
Feature

6 Tips When Planning for Intense Storms

August 18, 2022    
The city releases a rainfall plan to help combat extreme weather.  
Management Basics

Keep Log of Door and Lock Repairs to Boost Safety, Reduce Liability

August 18, 2022    
If a staff member or tenant reports that a door or lock at a building or unit entrance is broken, you may think you can wait until morning or even a few days to repair this condition. But that would be a mistake. Any delay leaves tenants at risk and increases the likelihood of your being held...
Court Watch

More Eviction Cases Restarting While Tenants Await ERAP Determinations

August 18, 2022    
New York’s Emergency Rental Assistance Program states that pending applications to the primarily federally funded program pause all eviction proceedings, as long as the tenant is not found to be causing a persistent nuisance. New York is among several states to pause cases at least...
Feature

What Owners Need to Know About NYC Security Deposit Laws

July 28, 2022    
The rules apply to all tenants, not just rent-regulated ones.   A security deposit is money a tenant deposits with the building owner that protects the owner if the tenant stops paying rent, skips out early on the lease, or damages the apartment. In New York, security deposits are governed by...
Management Basics

DHCR Issues Updated Renewal Lease Form

July 28, 2022    
The DHCR has modified the NYC Renewal Lease Form (RTP-8) to incorporate the requirements of Rent Guidelines Board Order #54. With the latest order, the city’s Rent Guidelines Board voted to allow you to take a 3.25 percent increase on one-year renewal leases and a 5 percent increase on two-...