Feature
February 21, 2023
A recent report highlights the city’s failure to adequately address heat complaints.
New Laws & Regs
February 21, 2023
New York City’s population of older adults, which currently represents 20 percent of the city’s entire population, will grow as the Baby Boomer generation ages. A 2021 CUNY Graduate Center study reports that the population of adults ages 65 and older in New York State will increase 25...
Management Basics
February 21, 2023
On Jan. 30, Mayor Eric Adams and NYC Department of Environmental Protection (DEP) Commissioner Rohit T. Aggarwala announced a temporary amnesty program for overdue water bills. Amnesty means forgiveness, and in this context, it means partial or complete interest forgiveness for qualified customers.
Management Basics
February 21, 2023
In the last issue of the Insider, we notified you that the NYC Department of Finance published the tentative property assessment roll for fiscal year 2023 (see DOF Publishes FY 2023 Tentative Assessment Roll). In January, the DOF sent a Notice of Property Value (NOPV) to property owners including...
Landlord v. Tenant
February 21, 2023
MAJOR CAPITAL IMPROVEMENTS
DHCR Must Reconsider Whether MCI Based on Pointing/Waterproofing Was Depreciable
Landlord applied to the DHCR for MCI rent hikes based on pointing and waterproofing performed pursuant to NYC Local Law 11's facade inspection and safety program. The DHCR ruled for...
Feature
January 25, 2023
These 26 reforms are projected to save NYC small businesses roughly $1.5 million.
In January 2022, Mayor Adams signed Executive Order 2, “Small Business Forward,” to reform existing business regulations and ensure local businesses face fewer needless fines and penalties. The...
Rent Increases
January 25, 2023
On Jan. 4, the DHCR issued its second 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 reasonable costs associated with major capital improvements (MCIs). The document is updated annually to...
Management Basics
January 25, 2023
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 New York City properties for the upcoming year at about $1.398 trillion, an increase of 8.2 percent from the 2022...
Management Basics
January 25, 2023
Stove knob covers are an important fire prevention tool. The covers make stove knobs on gas-powered stoves inaccessible to children. Local Law 117, which became effective in December 2018, requires that an owner of multiple dwellings provide stove knob covers for gas-powered stoves where the owner...
In the News
January 25, 2023
Mayor Eric Adams and NYC Corporation Counsel Sylvia O. Hinds-Radix recently announced the filing of two lawsuits against Alma Realty Corp. and Empire Management America Corp. for the failure to fix thousands of code violations that created dangerous living conditions for tenants. The lawsuits seek...
