9 NYCRR § 2502.4 — Adjustment of legal regulated rent (Emergency Tenant Protection Regs., via Cornell LII)

Citation
9 NYCRR § 2502.4 — Adjustment of legal regulated rent (Emergency Tenant Protection Regs., via Cornell LII)
Jurisdiction
New York (state)
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Original Source
https://www.law.cornell.edu/regulations/new-york/9-NYCRR-2502.4 ↗

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(1) An
owner who wishes to request a waiver of the useful life requirement set forth
in clause (d) of this subparagraph must apply to the DHCR for such waiver prior
to the commencement of the work for which he or she will be seeking a temporary
major capital improvement rental increase. Notwithstanding this requirement,
where the waiver requested is for an item being replaced because of an
emergency, which causes the building or any part thereof to be dangerous to
human life and safety or detrimental to health, an owner may apply to the DHCR
for such waiver at the time he or she submits the temporary major capital
improvement rent increase application.

(2) If the waiver is denied, the owner will
not be eligible for a temporary major capital improvement increase. However, if
the waiver is granted, the useful life requirement will not be a factor in the
determination of eligibility for the temporary major capital improvement rent
increase. Approval of the waiver does not assure that the application will be
granted, as all other requirements set for thin this paragraph must be
met.

(3) An owner may apply for,
and the DHCR may grant, a waiver of the useful life requirements set forth in
the Useful Life Schedule, if the owner satisfactorily demonstrates the
existence of one or more of the following circumstances:

(i) The item or equipment cannot be repaired
and must be replaced during its useful life because of a fire, vandalism or
other emergency, or "act of God" resulting in an emergency;