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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DHCR may also accept the cost of contract where capital
improvements were performed to remedy an emergency condition and for which the
owner paid more than the reasonable costs due to such emergency. The costs must
be actual, reasonable, necessary, verifiable, and eligible for a rent increase
under the circumstances.

(5) Interim Rules:

(i) An owner may apply for a waiver of
application of the Reasonable Cost Schedule if, prior to the effective date of
this subparagraph (ix) of this paragraph, it has either:

(a) entered a contract for the performance of
major capital improvement work within the two years immediately preceding
January 27, 2021, the final adoption date of Emergency Regulation
HCR-26-20-00012, or

(b) submitted
to DHCR an application for a temporary major capital improvement rent
increase.

(ii) The
recoverable costs will be determined according to the applicable Reasonable
Cost Schedule and these provisions, but the owner need not submit evidence of
compliance with the bidding requirements set forth in clause (b) of
subparagraph (x) of this paragraph; owner may instead submit for review
alternative means of establishing the reasonableness of the major capital
improvement costs sought to be recovered.

(iii) For pending major capital improvement
applications, an owner was required to make this waiver application within 60
days of June 16, 2020, unless in the context of processing the major capital
improvement application the owner was directed by DHCR to submit an application
for waiver.

(x) Waiver Procedure:

As part of the written Waiver application for
non-emergency capital improvements, owners must submit the following:

(a) A certification by a licensed architect
or engineer stating that: