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Posted by Janet on April 29, 1999 at 00:42:50:

In Reply to: Re: First Rent...A query for anyone...NYC posted by Anna on April 28, 1999 at 15:00:46:

There's a little bit about the "first rent" issue in DHCR operational bulletin 95-2, which is primarily about substanial rehabilitation (buildingwide renovation, exempting the entire structure from rent regulation): "First rents: Where an owner significantly changes the perimeter and dimensions of an existing housing accommodation, or creates a housing accommodation in space previously used for nonresidential purposes, the DHCR may find that the resultant housing accommodation was not in existence on the applicable base date. Such a finding may entitle the owner to charge a market "first rent," subject to guidelines limitations for future rent adjustments."

Follow Ups:

• Re: First Rent... a URL Janet 4/29/99 (3)
  • Re: First Rent... a URL John E. Marre 4/29/99 (2)
    • Re: First Rent... URL's & the statutes Anna 4/29/99 (1)
      • Re: First Rent... URL's & the statutes JEM 4/29/99 (0)

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: There's a little bit about the "first rent" issue in DHCR operational bulletin 95-2, which is primarily about substanial rehabilitation (buildingwide renovation, exempting the entire structure from rent regulation):  "First rents: Where an owner significantly changes the perimeter and dimensions of an existing housing accommodation, or creates a housing accommodation in space previously used for nonresidential purposes, the DHCR may find that the resultant housing accommodation was not in existence on the applicable base date.  Such a finding may entitle the owner to charge a market "first rent," subject to guidelines limitations for future rent adjustments."


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