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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(v) In buildings that also contain housing
accommodations subject to the City Rent Law, appropriate adjustments for both
income and expenses will be made by the DHCR in order to calculate the pro rata
share for those housing accommodations subject to this application.

(vi) The DHCR shall set a rental value for
any housing accommodation occupied by the owner or managing agent, a person
related to, or an employee of the owner or managing agent, or unoccupied at the
owner's choice for more than one month at the last legal regulated rent plus
the minimum number of guidelines increases. If no such legal regulated rent
existed or is known, the DHCR shall impute a rent equal to the average of rents
for similar or comparable housing accommodations subject to this Code in the
building during the test period.

(vii) Each owner who files an application for
a hardship rent increase shall be required to maintain all records as submitted
with the subject application, and further be required to retain same for a
period of three years after the effective date of the order.

(viii) Each application under this
subdivision shall be certified by the owner or his or her duly authorized agent
as to its accuracy and compliance with this subdivision under the penalties of
perjury.

(ix) The maximum amount of
hardship increase to which an owner shall be entitled shall be the difference
between the average annual net income for the three-year base period and the
average annual net income for the three-year current period.