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...
During “heat season” HPD responds to all heat and hot water complaints and, if adequate heat and hot water conditions aren’t corrected, HPD will impose penalties and may contract with private companies under the Emergency Repair Program to restore services to residents. In the...
On June 1, nearly two months after lawmakers first created the $2.4 billion rental relief fund, the state Office of Temporary and Disability Assistance (OTDA) launched the online application portal allowing tenants and landlords to apply for rental assistance. At the time, OTDA said applications...
To implement Local Law 66 of 2019, HPD has proposed a rule amending the definitions of lead-based paint. Local Law 66 of 2019 outlined new lead reference or action levels and standards relating to lead-based paint hazards.
You must file an Annual Apartment Registration application with the DHCR for every rent-stabilized apartment you own by July 31, 2021, using the DHCR’s online Owner Rent Regulation Application (ORRA) system. New York State law also requires owners to provide each tenant in occupancy with a...
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 2022–...
