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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(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 from the controlled housing accommodations
sufficient to offset such increases in operating costs as are allocable to such
controlled housing accommodations the administrator shall grant an adjustment
in the maximum rents.

(3) No
further application may be filed under this subdivision sooner than one year
from the date of filing a prior application under this paragraph if an increase
had previously been granted thereunder. 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.