N.Y.C. Admin. Code § 26-405

Citation
N.Y.C. Admin. Code § 26-405
Source
Official source
Original Source
https://codelibrary.amlegal.com/codes/newyorkcity/latest/NYCadmin/0-0-0-206052 ↗

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(6) If at least six months before the effective date of any adjustment or establishment of rents pursuant to paragraph three or four of subdivision a of this section, the landlord has not certified to the agency having jurisdiction that (a) all rent impairing violations (as defined by section three hundred two-a of the multiple dwelling law), and (b) at least eighty per centum of all other violations of the housing maintenance code or other state or local laws that impose requirements on property that were recorded against the property one year prior to such effective date have been cleared, corrected, or abated, no increase pursuant to such paragraphs shall take effect until he or she shall have entered into a written agreement with the city rent agency to deposit all income derived from the property into an escrow or trust account pursuant to subparagraph (a) of paragraph four of this subdivision, in addition to the procedures set forth in this paragraph and all other applicable penalties and procedures under this chapter, such violation shall also be subject to repair or removal by the city pursuant to the provisions of article five of subchapter five of the housing maintenance code, the landlord to be liable for the cost thereof.

i. Any regulation or order issued pursuant to this section may be established in such form and manner, may contain such classifications and differentiations, and may provide for such adjustments including the establishment of new or adjusted maximum rents in whole dollar amounts, and such reasonable exceptions as in the judgment of the city rent agency are necessary or proper in order to effectuate the purposes of this chapter.