how can you increase rent on multi unit property in yonkers since it is frozen from town

In Property Management - Asked by ervin k. - Nov 12, 2010
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Rob B.
Chandler, AZ

Ervin....
The rent control program applies to residential buildings constructed before February, 1947 in municipalities that have not declared an end to the postwar rental housing emergency. There are several municipalities that still have rent control, including New York City, Albany, Erie, Nassau and Westchester counties.
Outside New York City, rent stabilization applies to non-rent controlled apartments in buildings of six or more units built before January 1, 1974, in the localities which have adopted ETPA in Nassau, Westchester and Rockland counties. Some municipalities limit ETPA to buildings of a specific size- for instance, buildings with 20 or more units, or 100 or more, but in any event, not less than six.
The Rent Guidelines Boards (one in New York City and one each in Nassau, Westchester, and Rockland counties) set maximum allowable rates for rent increases in stabilized apartments. These guideline rates are set once a year and are effective for leases beginning on or after October 1st of each year. Pursuant to the Rent Regulation Reform Act of 1997, owners who sign vacancy leases are entitled to collect vacancy increases provided in the Act.
Both in New York City and the ETPA counties, rents can be increased during the lease period in any one of three ways, so long as the lease provides for the collection of an increase during the lease term: (1) with the written consent of the tenant in occupancy, if the owner increases services or equipment, or makes improvements to an apartment; (2) with DHCR approval, if the owner installs a building-wide major capital improvement; or (3) in cases of hardship with DHCR approval.
I hope this information may be of some help. Good luck Ervin....
Rob Baird, CA RE License #544165 (One of the oldest, active licenses in CA) 951 515-5855 email: rob@capratecommercial.com

Nov 12, 2010
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