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New York City has a set of laws in place requiring owners of buildings that use tanks to store or pressurize the building’s drinking water to inspect and clean them at least once per year. The requirement applies to any tank used to store a building’s drinking water. If the building has a dual-purpose water storage tank that includes a fire suppression system and a drinking water supply system, the tank must be inspected because some of the water is used as ...
Similar to the Department of Health grades for restaurants, a building’s energy efficiency grade is a letter grade that must be posted by Oct. 31 if you own or manage an applicable building. Local Law 33 of 2018, as amended by Local Law 95 of 2019, requires all large building owners subject to the benchmarking law to display an energy grade of each building annually, in a clearly visible location.
The beginning of New York City’s eight-month-long “heat season” is around the corner, and owners must meet temperature requirements to ensure apartments have heat and hot water during the colder months. During heat season, HPD responds to all heat and hot water complaints and, if adequate heat and hot water conditions aren’t corrected, HPD will impose penalties and may contract with private companies under the Emergency Repair Program to restore ...
If a staff member or tenant reports that a door or lock at a building or unit entrance is broken, you may think you can wait until morning or even a few days to repair this condition. But that would be a mistake. Any delay leaves tenants at risk and increases the likelihood of your being held liable if a crime occurs. If an intruder breaks into a building or unit at your site and attacks a tenant, the tenant could blame you.
The DHCR has modified the NYC Renewal Lease Form (RTP-8) to incorporate the requirements of Rent Guidelines Board Order #54. With the latest order, the city’s Rent Guidelines Board voted to allow you to take a 3.25 percent increase on one-year renewal leases and a 5 percent increase on two-year renewal leases. As the most recent DHCR Renewal Lease Form, this updated form should be used for all renewal leases going forward.
In a preliminary vote on May 5, the Rent Guidelines Board (RGB) recommended increasing rents for rent-stabilized apartment buildings. The RGB is made up of nine mayoral appointees, two of whom represent tenants, two who represent landlords, and another five members who are supposed to act on behalf of the general public. During the preliminary vote, five members of the board voted in favor of the proposed hikes. The board's preliminary vote called for the following ...
The NYC Department of Finance (DOF) requires certain owners of residential properties to file the Real Property Income & Expense Statement (RPIE) every year. The DOF uses income and expense information gathered each year from this filing to value your property accurately for the 2023–24 tax year. The deadline to file the RPIE statement and register storefronts is June 1, 2022.
Local Law 84 (LL84) requires owners of large buildings to measure their energy and water consumption annually in a process called benchmarking. LL84 standardizes this process by requiring building owners to enter their annual energy and water use in the U.S. Environmental Protection Agency’s (EPA) online tool, ENERGY STAR Portfolio Manager, and use the tool to submit data to the city. Building owners are subject to a penalty if usage data isn’t submitted by ...
On Jan. 18, the NYC Department of Finance (DOF) announced the publication of the tentative property assessment roll for fiscal year (FY) 2023, which shows the total market value of all NYC properties for the upcoming year at about $1.398 trillion, an increase of 8.2 percent from the 2022 fiscal year.
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