N.Y. Comp. Codes R. & Regs. tit. 9 § 2202.10

Current through Register Vol. 46, No. 19, May 8, 2024

Section 2202.10 - Unavoidable increases in operating costs in other specified structures

(a) A landlord may file an application for an increase in maximum rents on the ground that he operates a hotel or rooming house, or owns a cooperative apartment, and has incurred unavoidable increases in property taxes and other costs, including costs of operation of such hotel or rooming house, but excluding mortgage interest and amortization and excluding allowances for obsolescence and reserves and building depreciation, which have occurred since the Federal date determining the maximum rent or the date the landlord commenced the operation of the property, whichever is later. 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 allowable to such controlled housing accommodations, the administrator shall grant an adjustment of the maximum rents.

(b) Where the administrator finds, in considering an application under this section, 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.

(c) A further application may not be filed under this section sooner than one year from the date of filing of the last prior application for an increase with respect to such property under this section, or under the provisions of section 4(4)(a)(3) of the State Rent Act, where such prior application resulted in the granting of an increase.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 2202.10