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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(5) no further
application may be filed under this subdivision sooner than one year from the
date of filing a prior application under this subdivision if an increase had
previously been granted thereunder to establish a net annual return of six
percent of the valuation of the property. No order increasing a maximum rent
shall be issued on a subsequent application sooner than one year from the
effective date, or the earlier effective date if there are dual effective
dates, of the order granting an increase on the prior application. The
Administrator may waive these limitations where the property has been affected
by a significant increase in operating costs which applied to a substantial
segment of housing accommodations in the community.

(h) Unavoidable increases in operating costs
in small structures

(1) The landlord owns no
more than four rental units within the State and has incurred unavoidable
increases in property taxes, fuel, utilities, insurance and repairs and
maintenance which have occurred since the federal date determining the maximum
rent or the date the property was acquired by the present owner, whichever is
later.

(2) Where the Administrator
finds in considering an application under this subdivision that a present
tenant is paying a rent less than the maximum rent, the Administrator, upon
request of the landlord, may reduce the maximum rent of the housing
accommodation to the amount actually being paid, or to the highest maximum rent
for comparable controlled housing accommodations in the structure, whichever is
higher. If, as determined by the Administrator, the landlord has not been fully
compensated by increases in rental income sufficient to offset such increases
in operating costs the Administrator shall grant an adjustment in the maximum
rents.