In the News
April 23, 2024
Operating costs rose an average of 6.1% between 2021 and 2022, while net operating income increased 10%.
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...
Feature
March 18, 2024
Buildings will now be selected for the program annually.
Management Basics
March 18, 2024
Penalties for missing the deadline start at $500 and increase quarterly.
Landlord v. Tenant
March 18, 2024
MAJOR CAPITAL IMPROVEMENTS
Qualifying MCI Work Need Not Be Performed to Entire Building Complex
Landlord of a large apartment complex containing 35 buildings applied to the DHCR for MCI rent hikes at 12 buildings, based on installation of new roofs, facade restoration, and related engineering fees...
In the News
March 18, 2024
Delinquent accounts owe a total of $124 million.
During the pandemic, the NYC Department of Environmental Protection (DEP) saw a significant increase in the number and balance of delinquent accounts. In fact, the total of delinquent payments nearly doubled to $1.2 billion, which threatened...
In the News
March 18, 2024
Rent-regulated units were advertised as short-term rentals.
Feature
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 going forward to get...
Rent Increases
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 loss...
New Laws & Regs
February 22, 2024
Owners must comply on or before May 1, 2025.
In the News
February 22, 2024
In two years, the city’s vacancy rate has dropped from 4.54% to 1.4%.
