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...
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...
The NYC Department of Finance (DOF) requires certain owners of residential properties to file the Real Property Income & Expense Statement (RPIE) every year. The DOF uses income and expense information gathered each year from this filing to value your property accurately for the 2023–...
Local Law 84 (LL84) requires owners of large buildings to measure their energy and water consumption annually in a process called benchmarking. LL84 standardizes this process by requiring building owners to enter their annual energy and water use in the U.S. Environmental Protection Agency...
On Jan. 18, the NYC Department of Finance (DOF) announced the publication of the tentative property assessment roll for fiscal year (FY) 2023, which shows the total market value of all NYC properties for the upcoming year at about $1.398 trillion, an increase of 8.2 percent from the 2022 fiscal...
HPD recently issued a release that highlighted new standards related to lead-based paint hazards. On Dec. 1, the standard to define paint as lead-based was cut in half. This new standard, the strictest in the nation, is expected to prompt an increase in lead violations issued by HPD inspectors....
The DOB recently updated the rules for periodic elevator and boiler inspections. The new requirements alter the timing for submitting test and inspection reports for both elevators and boilers in New York City. We’ll go over the basic requirements and cover the changes the recent updates...
In New York City, Local Law 55 of 2018, the Asthma-Free Housing Act, requires that owners of buildings with three or more apartments keep their tenants’ apartments free of mold and pests. Under this law, an owner of multiple dwellings is required to inspect units annually for indoor...
As a result of Local Law 69 of 2017, apartment building owners are required to file bedbug infestation and treatment reports with HPD annually. Owners must file annually between Dec. 1 and Dec. 31 for the previous year, from November 2020 through October 2021.
The Division of Housing and Community Renewal (DHCR) recently announced an increase in this year’s air conditioner rent surcharge for owners who pay for electricity. It set the monthly surcharge at $27.16, up $1.85 from $25.31 last year. This year’s increase reflects a 7.8 percent...
