N.Y. Comp. Codes R. & Regs. tit. 9 § 2201.5

Current through Register Vol. 46, No. 51, December 18, 2024

Section 2201.5 - Biennial adjustment of maximum rents

(a) Effective January 1, 1974 and biennially thereafter, the administrator shall adjust the maximum rent for each housing accommodation subject to these regulations to reflect the changes, if any, in the components of the maximum gross building rental defined in section 2201.4(b) of this Part. Such adjustment shall be made whether or not the property, or any housing accommodation therein, received or was eligible for maximum base rents under section 2201.4 of this Part.

(b) On or after January 1, 1974, the administrator may require landlords of properties containing housing accommodations subject to control under these regulations to report the actual operating and maintenance expenses for such properties, in such form and manner as he may prescribe, and may adjust the allowance for operating and maintenance expenses in accordance with such data. In addition, the administrator may provide for an alternative standard operating and maintenance expense allowance based upon cumulative objective data.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 2201.5