Feature
February 22, 2024
We highlight the significant changes.
In December 2023, Governor Hochul signed legislation (S2980C/A6216B) that seeks to strengthen rent-stabilized tenant protections. The legislation broadens the definition of fraud in rent overcharge cases, requires owners going forward to get...
Rent Increases
February 22, 2024
New York City Local Law 30 of 1970 stipulates that Maximum Base Rents be established for rent-controlled apartments according to a formula calculated to reflect real estate taxes, water and sewer charges, operating and maintenance expenses, return on capital value, and vacancy and collection loss...
New Laws & Regs
February 22, 2024
Owners must comply on or before May 1, 2025.
In the News
February 22, 2024
In two years, the city’s vacancy rate has dropped from 4.54% to 1.4%.
Feature
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
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
January 26, 2024
Any lease offered on or after April 4, 2024, must have these updated documents attached.
Management Basics
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
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
December 18, 2023
Here’s what you need to do to comply.
