New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter VIII - Rent Stabilization Regulations › Subchapter B - Rent Stabilization Code › Part 2521 - Legal Regulated Rents › Section 2521.2 - Preferential rents

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Where the
					 amount of rent charged to and paid by the tenant is less than the legal
					 regulated rent for the housing accommodation, such rent shall be known as the
					 "preferential rent." The amount of rent for such housing accommodation which
					 may be charged upon vacancy thereof may, at the option of the owner, be based
					 upon either such preferential rent or an amount not more than the previously
					 established legal regulated rent, as adjusted by the most recent applicable
					 guidelines increases and other increases authorized by law.
(b) Such legal regulated rent shall be set
					 forth in the vacancy lease or renewal lease pursuant to which the preferential
					 rent is charged.
(c) Where the
					 amount of the legal regulated rent is set forth either in a vacancy lease or
					 renewal lease where a preferential rent is charged, the owner shall be required
					 to maintain, and submit where required to by DHCR, the rental history of the
					 housing accommodation immediately preceding such preferential rent to the
					 present which may be prior to the base date preceding the filing of a
					 complaint. 22. New subdivisions (d) and (e) are added to 9 NYCRR §
					 2521.21.
(d) Any tenant who is
					 subject to a lease in effect on or after June 14, 2019, or is or was entitled
					 to receive a renewal or vacancy lease on or after such date, upon renewal of
					 such lease, the amount of rent for such housing accommodation that may be
					 charged and paid shall be no more than the rent charged to and paid by the
					 tenant prior to that renewal, as adjusted by the most recent applicable
					 guidelines increases and any other increases authorized by law.
(e) Provided, however, that for buildings
					 that are subject to this Code by virtue of a regulatory agreement with a local
					 government agency and which buildings receive federal project based rental
					 assistance administered by the United States Department of Housing and Urban
					 Development or a state or local section eight administering agency, where the
					 rent set by the federal, state or local governmental agency is less than the
					 legal regulated rent for the housing accommodation, the amount of rent for such
					 housing accommodation which may be charged upon renewal or upon vacancy
					 thereof, may be based upon such previously established legal regulated rent, as
					 adjusted by the most recent applicable guidelines increases or other increases
					 authorized by law; and further provided that such vacancy shall not be caused
					 by the failure of the owner or an agent of the owner to maintain the housing
					 accommodation in compliance with the warranty of habitability set forth in
					 subdivision one of section
					 two hundred
					 thirty-five-b of the real property law.