In the News

ERAP Update: COVID Rent Relief Funds Depleted, Governor Requests More Federal Aid

November 19, 2021    
Nearly 280,000 households have submitted ERAP applications, and the number of payments issued to owners is 81,209 since the application portal opened on June 1, according to the Office of Temporary and Disability Assistance (OTDA), the agency in charge of distributing $2.7 billion through the...
Feature

What Owners Need to Know About the Landlord Rental Assistance Program

October 18, 2021    
Owners who couldn’t get relief in the original Emergency Rental Assistance Program can now apply for thousands of dollars in aid through a new state program launched on Oct. 7. The Landlord Rental Assistance Program (LRAP) gives eligible recipients payments of up to a year’s worth of...
Violations

A 'FAIRER' Way to Pay ECB Fines

October 18, 2021    
Under the Department of Finance’s new Environmental Control Board (ECB) amnesty program, if you have unpaid eligible ECB judgments issued by various city agencies and adjudicated by the Office of Administrative Trials and Hearings (OATH), you may be able to save up to 75 percent and have the...
Management Basics

DHCR Increases A/C Rent Surcharge for 2021–22

October 18, 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...
In the News

New City Council Bill Proposes Free Internet for Every Apartment

October 18, 2021    
Under a recently proposed bill by Council Member Ben Kallos, broadband Internet would be treated as a utility like electricity or hot water for apartments. If the bill is passed, existing buildings with 10 or more apartments would have until Jan. 1, 2026, to comply. And newly constructed apartments...
Feature

How to Apply the Rent Guidelines When ERAP Is Accepted

September 22, 2021    
If you’re accepting ERAP funds, you must abide by certain terms.  
Q & A

Communicating the Mid-Year Hike for a One-Year Vacancy Lease in the NYC Lease Rider

September 22, 2021    
Q Can you show how to implement the rent guidelines for vacancy leases starting Oct. 1, 2021? The New York City Lease Rider for Rent-Stabilized Tenants (DHCR form RA-LR1) hasn’t been updated since September 2019 and doesn’t show how the rents change after six months with the recent rent...
Q & A

Checking Contractors' Insurance Policy Exclusions

September 22, 2021    
The Insider spoke with Jonathan Steward, vice president/producer, O&S Insurance Brokerage Group, to discuss why there are more and more exclusions in contractors’ insurance policies—and how to guard against them. Insider: New York State’s one-of-a-kind Scaffold Law states that...
Management Basics

Updated Building Energy Efficiency Rating Label Available on Oct. 1

September 22, 2021    
Large building owners must post the label by Oct. 31 or face a $1,250 penalty.  
Management Basics

Building Owner Heating Obligations as Heat Season Begins

September 22, 2021    
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...