Feature

DOB Adopts Second Rules Package for Implementing Local Law 97

January 26, 2024    
The city’s landmark climate law went into effect Jan. 1.     DOB recently adopted a second major rules package for the implementation of Local Law 97 of 2019, the city's carbon emissions law that places limits on greenhouse gases coming from the city’s largest buildings....
Rent Increases

DHCR Updates Reasonable Cost Schedule for MCIs

January 26, 2024    
Unsurprisingly, the majority of the items show a cost increase from 2023 to 2024.     On Jan. 3, the DHCR issued its third update to Operational Bulletin 2021-1. When the Housing Stability and Tenant Protection Act (HSTPA) was enacted, it directed the DHCR to create a schedule of...
Management Basics

DHCR Updates NYC Lease Rider, ETPA Standard Lease Addenda

January 26, 2024    
Any lease offered on or after April 4, 2024, must have these updated documents attached.    
Management Basics

DOF Publishes FY 2025 Tentative Assessment Roll

January 26, 2024    
Class 2 rentals saw a market value increase of 5.7 percent.     On Jan. 16, the NYC Department of Finance (DOF) announced the publication of the tentative property assessment roll for fiscal year (FY) 2025, which shows the total market value of all NYC properties at about $1.491 trillion...
Management Basics

DOB Imposes New Deadline for Parking Structure Inspections

January 26, 2024    
Inspections for Subcycle 1B started Jan. 1.     If your apartment building has a parking structure, you should know that the Department of Buildings has adopted stricter inspection requirements for owners this year. In November 2023, DOB amended Local Law 126 of 2021 to require an...
Feature

DOB’s Annual Parapet Inspection Requirement Begins in 2024

December 18, 2023    
Here’s what you need to do to comply.    
Violations

HPD Steps Up Enforcement with Increased Penalties and Fees

December 18, 2023    
Violators will feel the sting of inflation.     In pursuit of public safety, the Department of Housing Preservation and Development (HPD) is responsible for enforcing the law and acting against violators of the housing codes. When a property is not compliant with housing codes, HPD will...
Management Basics

File Annual Drinking Water Storage Tank Inspection Results with DOHMH by Jan. 15

December 18, 2023    
Drinking water tanks help deliver pressurized water to some buildings with more than six floors. New York City has a set of laws in place requiring owners of buildings that use these tanks to store or pressurize the building’s drinking water to inspect and clean them at least once per year....
Management Basics

Provide Annual Stove Knob Cover Notices by Jan. 16

December 18, 2023    
Failure to provide requested documentation will result in a Class B hazardous violation.  
In the News

Council Passes Bill Allowing Tenants to Report Issues in Vacant Units

December 18, 2023    
The bill’s supporters view it as a step toward quantifying the scale of warehousing.