Management Basics

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The NYC Department of Finance requires certain owners of residential properties to file the Real Property Income & Expense Statement (RPIE) every year. The DOF uses the information from this filing to value your property accurately for the upcoming tax year. If you miss the filing deadline, the penalty is up to 5 percent of your property’s actual assessed value.

We go over who qualifies to perform inspections, explain what’s involved in the inspection process, and provide details on the deadlines and penalties tied to noncompliance.

Filing for a lead-based paint exemption will ensure you get the benefits of having lead-paint-free spaces that are no longer subject to some of the Local Law 1 requirements.

Owners can now use J-51 for energy-efficient upgrades that support Local Law 97 compliance.

Brooklyn experienced the largest market value percent increase for Class 2, at 9.4%.

And retain related records or risk facing a Class B hazardous violation.

Or risk a violation.

Electronic filing is required even when there’s no reported bedbug activity in a unit.