Management Basics

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Lead-based paint hazards have been in the news recently. A New York state bill dealing with lead-based paint is awaiting Governor Paterson's signature at the time of this writing. Its purpose is to identify 30 communities with the highest amount of lead-based hazards and provide those owners with tax breaks to offset the cost of covering or removing the hazards.

Q A long-term tenant, who lived in the same apartment for 40 years, died recently. I wish to verify the calculation of the new rent. If I calculate the prior legal rent, plus the long-term prior tenant increase, plus the Rent Guidelines Board Order (RGBO) #40 percentage increase, plus 1/40th of the cost of improvements, would this be the allowable computation?

Many elderly tenants are capable of living independently and paying their rent on time. But sooner or later, you may have an elderly tenant who has trouble coping with day-to-day concerns, such as managing money, paying rent on time, or keeping his apartment tidy.