9 CRR-NY 2521.1
- Citation
- 9 CRR-NY 2521.1
- Jurisdiction
- New York (state)
- Source
- Official source
Related Parts of This Source
Full Text
757 chars(c) The initial legal regulated rent for a housing accommodation first made subject to the RSL and this Code pursuant to article 7-C of the MDL shall be the rent established by the Loft Board under section 286(4) of the MDL applicable to a lease offered pursuant to MDL section 286(3). Such rent shall not be subject to the proceedings described in section 2522.3 of this Title. Notwithstanding that the rent charged and paid during the first lease term may have been less than such initial legal regulated rent, the owner may request that the next lease rental be the initial legal regulated rent plus the allowable increase established by the Rent Guidelines Board, and such other rent increases as are authorized pursuant to section 2522.4 of this Title.