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

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631 chars 
(i) Property. Any structure or group of
structures including the land containing housing accommodations having either
common facilities, or which are contiguous, or which are operated as a single
enterprise and which the Administrator shall in his discretion find appropriate
to be considered as a single operation for the purpose of this subdivision. The
term property also includes a housing accommodation allocated to a proprietary
lessee in a structure or premises owned by a co-operative corporation or
association.

(ii) Net annual
return. The amount by which the earned income exceeds the operating expenses of
the property.