9 NYCRR § 2102.3 — Grounds for increase of maximum rent (State Rent & Eviction Regs., via Cornell LII)

Citation
9 NYCRR § 2102.3 — Grounds for increase of maximum rent (State Rent & Eviction Regs., via Cornell LII)
Jurisdiction
New York (state)
Source verification
official_capture_completeness_unverified
Original Source
https://www.law.cornell.edu/regulations/new-york/9-NYCRR-2102.3 ↗

Related Parts of This Source

Full Text

1,557 chars 
(ii) The temporary major
capital improvement increase is added to the maximum rent as a temporary
increase and will be removed from the maximum rent thirty (30) years from the
date the increase became effective inclusive of any increases granted by the
local rent guidelines board. The DHCR shall issue a notice to the owner and all
the tenants sixty (60) days prior to the end of the temporary major capital
improvement increase and shall include the initial approved increase and the
total amount to be removed from the maximum rent inclusive of any increases
granted by the applicable rent guidelines board as referenced in section
of this Title.2102.1

(iii) Such temporary increases shall not be
collectible during the term of a lease then in effect, unless a specific
provision in the tenant's lease authorizes an increase during its term pursuant
to an order issued by the DHCR.

(iv) The collection of such temporary
increases shall not exceed two percent in any year from the effective date of
the order granting the increase over the rent set forth in the schedule of
gross rents, with collectability of any dollar excess above said sum to be
spread forward in similar increments and added to the rent as established or
set in future years. In no event shall more than one two-percent increase in
the legal regulated rent pursuant to paragraph (1) of this subdivision be
collected in the same year, provided, however, that upon a vacancy, the owner
may temporarily increase the rent to the full temporary major capital
improvement increase amount.