The Rent Guidelines Board (RGB) is mandated by law to establish yearly rent adjustments for rent-stabilized apartments in New York City. The board holds an annual series of public meetings and hearings to consider research from staff and testimony from owners, tenants, advocacy groups, and...
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.
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...
New York City and New York State have recently bolstered efforts to prevent discrimination. When Carmelyn Malalis was appointed to lead the New York City Commission on Human Rights in November 2014, the agency had come under scrutiny for what Public Advocate Letitia James called a “...
You may want to use an apartment in your building for your business—say, as a managing agent’s office or a super’s apartment, or even for an unrelated business. But suppose a rent-stabilized tenant lives there. Can you evict the tenant? The answer is “Yes,” if you...
The Division of Housing and Community Renewal (DHCR) recently updated its website with the necessary forms you have to fill out to start the process for increasing the rents of your rent-controlled apartments during the 2016-17 maximum base rent (MBR) cycle. Once you receive the orders of...
Rent-regulated apartments with a legal or maximum monthly rent that reaches or exceeds $2,700 as of May 1, 2016, may be petitioned for High Income Rent Deregulation this year. The Rent Act of 2015 amended the rent threshold for high-rent vacancy deregulation and high-income high-rent...
On Jan. 22, the DHCR issued new fuel cost adjustment factors for rent-controlled apartments for the 2015 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...
To avoid fines for snow and ice on your sidewalk this winter, be sure to follow a smart snow removal policy. Section 16-123 of the city’s Administrative Code requires you to remove snow and ice from the sidewalk in front of your building. Fines range from $100 to $150 for the first...
When you get hit with a rent cut for a decrease in services, act quickly to get the rent restored to its former level. Otherwise, you stand to lose a lot of money. For each rent-stabilized tenant whose rent gets cut, you’ll lose at least the most recent guidelines increase. For each rent-...
The proliferation and popularity of short-term rental sites such as Airbnb have created vexing problems for owners. Due to these sites, it’s now quite simple, for example, for tenants to connect with travelers and attempt to sublet your apartments and make a hefty profit. Tenants can...
Suppose a tenant’s apartment is burglarized or a building visitor falls when a stairway handrail becomes loose or something happens in your building that causes property loss or bodily injury. Are you certain your employees let you know about certain incidents like these as soon as they...
