N.Y. Comp. Codes R. & Regs. Tit. 9 § 2202.10 - Unavoidable increases in operating costs in other specified structures
(a) A landlord may
file an application for an increase in maximum rents on the ground that he
operates a hotel or rooming house, or owns a cooperative apartment, and has
incurred unavoidable increases in property taxes and other costs, including
costs of operation of such hotel or rooming house, but excluding mortgage
interest and amortization and excluding allowances for obsolescence and
reserves and building depreciation, which have occurred since the Federal date
determining the maximum rent or the date the landlord commenced the operation
of the property, whichever is later. If, as determined by the administrator,
the landlord has not been fully compensated by increases in rental income from
the controlled housing accommodations sufficient to offset such increases in
operating costs as are allowable to such controlled housing accommodations, the
administrator shall grant an adjustment of the maximum rents.
(b) Where the administrator finds, in
considering an application under this section, that a present tenant is paying
a rent less than the maximum rent, the administrator, upon request of the
landlord, may reduce the maximum rent of the housing accommodation to the
amount actually being paid, or to the highest maximum rent for comparable
controlled housing accommodations in the structure, whichever is
higher.
(c) A further application
may not be filed under this section sooner than one year from the date of
filing of the last prior application for an increase with respect to such
property under this section, or under the provisions of section
4
(4)(a)(3) of the State Rent Act, where such
prior application resulted in the granting of an increase.
Notes
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