9 NYCRR § 2522.4 — Adjustment of legal regulated rent (Rent Stabilization Code, via Cornell LII)

Citation
9 NYCRR § 2522.4 — Adjustment of legal regulated rent (Rent Stabilization Code, via Cornell LII)
Jurisdiction
New York (state)
Source verification
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Original Source
https://www.law.cornell.edu/regulations/new-york/9-NYCRR-2522.4 ↗

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(c)
Notwithstanding any waiver of the reasonable cost schedule, not all costs
claimed for a temporary major capital improvement rent increase may be awarded,
as the costs of items claimed may be disallowed, in whole or in part, pursuant
to all other requirements set forth in this section that must be met and fully
supported.

(d) Pursuant to the
requirements specified below, such application must be fully supported and
demonstrate that the claimed costs underlying the temporary major capital
improvement rent increase are:

(1) not
identified in the Reasonable Cost Schedule, or

(2) necessarily and appropriately priced
higher than those costs listed in the Reasonable Cost Schedule due to the
unique nature of the installation and the circumstances surrounding such
installation, and such costs are accurate, reasonable, necessary, verifiable,
and eligible for a rent increase under these circumstances, or

(3) that use of the Reasonable Cost Schedule
will cause an undue hardship and the use of alternative procedures are
appropriate to the interests of the owner, the tenants, and the public, and the
costs of such improvement are accurate, reasonable, necessary, verifiable, and
eligible for a rent increase under the circumstances.

(e) Owners must request a waiver of the use
of the Reasonable Cost Schedule in writing and accompany the application with
the information and documentation as specified in subparagraph (x).

(ix) Requirements for Waiver under
Specific Circumstances