Feature Articles

Notify Four Parties When You Change Managing Agent

April 21, 2017    

A managing agent is designated by an owner to be in control of and responsible for the maintenance and operation of the building and to authorize, on behalf of the owner, the correction of any emergency conditions or the making of any emergency repairs. A managing agent must be an individual...

File RPIE Statements by June 1

April 21, 2017    

The NYC Department of Finance (DOF) requires certain owners of residential properties to file the Real Property Income & Expense Statement (RPIE) every year. The DOF needs income and expense information each year to value your property accurately.

Large Building Owners to Submit Benchmarking Data by May 1

April 21, 2017    

Local Law 84 (LL84) requires owners of large buildings to annually measure their energy and water consumption in a process called benchmarking. LL84 standardizes this process by requiring building owners to enter their annual energy and water use in the U.S. Environmental Protection Agency...

Cure Violations for Upcoming 2018-2019 MBR Cycle for Rent-Controlled Apartments

April 21, 2017    

It’s not too soon for owners of buildings that contain rent-controlled units to begin preparing for the upcoming 2018-2019 maximum base rent (MBR) cycle. The Division of Housing and Community Renewal (DHCR) has recently released the 2018-2019 MBR forms. The forms that need to be filed...

Comply with Fair Housing Law When Managing Common Areas & Amenities

March 17, 2017    

In August 2016, the NYC Commission on Human Rights entered into a settlement agreement with an owner for alleged age discrimination. A rent-stabilized tenant had filed a complaint against a large real estate management company because the company opened an exercise room in the building and...

Take Four Steps to Calculate Interest for Rent Overcharge Refunds

March 17, 2017    

You probably know that if you promptly refund an overcharge to a tenant who has filed a rent overcharge complaint against you, the Division of Housing and Community Renewal (DHCR) shouldn’t order you to pay triple damages for the amount of the overcharge. There are numerous DHCR decision...

How to Get DHCR to Waive Useful Life Requirements for MCIs

February 17, 2017    

If you’re planning to do work at your building and expect to get a major capital improvement (MCI) rent increase for it, you probably know that the work must meet the Division of Housing and Community Renewal’s (DHCR) useful life requirements. Those requirements are set out in...

Online Application Available for MCI Tax Abatement Program

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...

Send Tenant 2017 DHCR Form If Rent Is $2,700 or More

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...

File 2017 Fuel Cost Adjustment Forms Online by April 3

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...

Avoid Overtime Pay Deals that May Result in Wage Complaints

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...

How to Apply Employee's Rent-Free Apartment Value to State Minimum Wage Requirements

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.