Feature Articles

HPD Releases Proposed Rule for Heat Sensors Program

March 18, 2024    

Buildings will now be selected for the program annually.

 

 

Large Building Owners to Submit Benchmarking Data by May 1

March 18, 2024    

Penalties for missing the deadline start at $500 and increase quarterly.

 

 

Governor Signs New Rent-Stabilized Housing Legislation

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...

How to Collect 2024–25 MBR Increases for Rent-Controlled Units

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...

DOB Publishes Final Rule on Natural Gas Detectors

February 22, 2024    

Owners must comply on or before May 1, 2025.

 

 

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...

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...

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.

 

 

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...

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...

DOB’s Annual Parapet Inspection Requirement Begins in 2024

December 18, 2023    

Here’s what you need to do to comply.

 

 

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...