9 NYCRR § 2202.4 — Increased services or facilities, substantial rehabilitation, major capital or other improvements (NYC Rent & Eviction Regs., via Cornell LII)

Citation: 9 NYCRR § 2202.4 — Increased services or facilities, substantial rehabilitation, major capital or other improvements (NYC Rent & Eviction Regs., via Cornell LII)
Jurisdiction: New York (state)
Source: Official source
Original Source: https://www.law.cornell.edu/regulations/new-york/9-NYCRR-2202.4 ↗

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(4) Any
temporary increase pursuant to paragraph (1) of this subdivision shall be 1/144
of the total cost for a building with thirty-five or fewer housing
accommodations, or 1/150 of the total cost for a building with more than
thirty-five housing accommodations, for any determination issued by DHCR after
June 14, 2019, and such temporary increase shall be removed from the maximum
rent thirty (30) years from the date the increase became effective inclusive of
any increases granted by the applicable rent guidelines board. For increases
pursuant to subparagraphs (1) (iii) and (iv) of this subdivision, in the
discretion of the DHCR, an appropriate charge may be imposed in lieu of an
amortization charge when an amortization charge is insignificant or
inappropriate.

(5)

(i) A temporary major capital improvement
increase is fixed to the unit and such increase shall be collectible
prospectively on the first day of the first month beginning sixty (60) days
from the date of mailing notice of approval to the tenant. Such notice shall
disclose the total monthly increase in rent and the first month in which the
tenant would be required to pay the temporary increase. An approval for a
temporary major capital improvement increase shall not include retroactive
payments.