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)
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Original Source
https://www.law.cornell.edu/regulations/new-york/9-NYCRR-2102.3 ↗

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(v) In
addition, for any rent increases due to any major capital improvements approved
on or after June 16, 2012 and before June 16, 2019, an owner may not collect
more than two percent in any year for any tenant in occupancy on the date the
major capital improvement was approved, provided the tenant has entered into a
renewal lease commencing on or after June 14, 2019, or is or was entitled to
receive a renewal lease on or after such date. In such event, the adjusted
limit on collectability shall take effect on the first anniversary of the date
on which the increase became collectible to occur after such lease
renewal.

(vi) An increase pursuant
to paragraph (1) of this subdivision shall not be collectible from a tenant to
whom there has been issued a currently valid senior citizen or disability rent
increase exemption pursuant to local law or ordinance to the extent that such
increase may cause the maximum rent of the housing accommodation to exceed a
specified portion, if any, pursuant to such local law or ordinance, of the
aggregate disposable income of all members of the household residing in the
housing accommodation.

(6) The determination of the appropriate
adjustment of a maximum rent shall take into consideration all factors bearing
on the equities involved, subject to the general limitation that the adjustment
can be put into effect without dislocation and hardship inconsistent with the
purposes of the Emergency Housing Rent Control Law, and including as a factor a
return of the actual, reasonable, and verifiable cost to the owner, limited to
the reasonable cost schedule in paragraph (2) of this subdivision and exclusive
of interest or other carrying charges, and the increase in the rental value of
the housing accommodations.