Industry News

DHCR has the authority to levy civil penalties of $500 for each unregistered apartment for every month the registration is overdue.

When rental income remains flat while operating costs continue to increase, building owners face increasingly difficult financial decisions. Deferred maintenance, postponed capital improvements, and reduced investment in aging housing stock can become unintended consequences of sustained revenue constraints.

The NYC Rent Guidelines Board has approved rent increases of 3% for one-year and 4.5% for two-year lease renewals for rent stabilized units starting October 1, 2025.

New York property owners must comply with Good Cause Eviction notice requirements and monitor annual DHCR updates on rent increase thresholds and exemptions, even if their properties are otherwise exempt from the law.

New York City property owners with rent stabilized apartments are subject to a recently enacted local law that introduces a new posting requirement in their buildings.

The FARE Act, now in effect in New York City, requires landlords to cover broker fees when a broker acts on their behalf and prohibits passing those fees on to tenants for authorized and unauthorized listings.

A proposed New York State law would require LLCs that own rent-stabilized properties to disclose the names and ownership percentages of all beneficial owners when filing annual rent registrations with DHCR.