Management Basics
February 17, 2017
The DOF recently released revised guidance on the implementation of the MCI tax abatement provided for in Section 65 of Chapter 20 of the laws of 2015. The Rent Law of 2015 included changes to the amortization period for the calculation of major capital improvement (MCI) rent increases. The changes...
Management Basics
February 17, 2017
Rent-regulated apartments with a legal or maximum monthly rent that reaches or exceeds $2,700 may be petitioned for high-income rent deregulation. The Rent Act of 2015 amended the rent threshold for high-rent vacancy deregulation and high-income/high-rent deregulation by raising the threshold from...
Management Basics
February 17, 2017
On Jan. 23, the DHCR issued new fuel cost adjustment factors for rent-controlled apartments for the 2016 calendar year. The prices are based on a study of home heating oil prices provided by the NYC Rent Guidelines Board oil survey, a NYS Energy Research and Development Authority report, rate...
Landlord v. Tenant
February 17, 2017
DEMOLITION
Landlord Must Pay Tenant Stipends and Relocation Costs
The DHCR directed landlord to pay tenants’ demolition stipends and relocation costs in connection with a building demolition. Landlord filed an Article 78 appeal, claiming that the DHCR’s decision was arbitrary and...
Feature
January 24, 2017
At some point, you may want building staff to work overtime or to handle an extra job. But whether you’re asking a doorman to work extra hours to fill in for vacationing employees or offering a handyman a lump sum to paint an apartment on a Saturday, you need to make sure you pay that...
Management Basics
January 24, 2017
As part of a superintendent’s compensation package, an owner may provide a rent-free apartment to live in. According to state law, the owner can apply this apartment allowance toward the superintendent’s minimum wage requirement to an extent.
New Laws & Regs
January 24, 2017
In early December, Mayor De Blasio signed Local Law 149 clarifying that owners have to clear snow from the area around fire hydrants at the same time they have to clear sidewalks. Specifically, the law allows the Department of Sanitation to issue violations to owners for failing to remove the snow...
In the News
January 24, 2017
The NYC Commission on Human Rights recently announced five complaints filed against large owners and brokerage firms for repeatedly refusing to accept housing vouchers. The complaints allege discrimination against prospective tenants based on their lawful source of income, a violation of the NYC...
In the News
January 24, 2017
The New York City Council is expected to introduce a package of bills aimed at addressing the increasing number of accidents and fatalities in the construction industry. The city recorded 24 construction deaths over a two-year period—11 each year for workers and two passersby. The city...
In the News
January 24, 2017
According to new data from the city’s Department of Finance (DOF), the total tentative market value for all assessed properties in New York City increased to $1.157 trillion this year, an 8.74 percent increase from 2016, when the total crossed $1 trillion for the first time.
