DHCR Updates Fact Sheet on Preferential Rents
The Division of Housing and Community Renewal (DHCR) recently updated Fact Sheet #40 on preferential rents and rent concessions. Fact sheets provide information to the public on rent regulation. The updated fact sheet reflects changes the Rent Act of 2015 made to vacancy allowances after a preferential lease and addresses whether penalties for failing to qualify for prompt payment discounts are enforceable under preferential rent rules. The update also makes a change to the recommendation that the legal rent be indicated in all subsequent renewal leases.