Disposition Rent Increases.
28 RCNY § 14-04
in effect§ 14-04 Disposition Rent Increases.
(a) Disposition rent increases are necessary to raise rents to a level sufficient to cover the maintenance and operating expenses in a particular building during the first year of private ownership.
(b) The DAMP Lessee may prepare a request to the appropriate DAMP Program Director for a disposition rent increase for Tenants to take effect prior to the sale of the particular building.
(c) If a request for a disposition rent increase is not submitted, the DAMP Program Director may propose a disposition rent increase in accordance with the provisions of this chapter.
(d) The DAMP Lessee or DAMP Program Director shall prepare a statement of estimated maintenance and operating expenses which form the basis for the disposition rent increase, a history not to exceed the prior year of billing and collection of rents in the particular building and a current rent roll. The statement of estimated maintenance and operating expenses shall contain:
(1) the past actual expenditures for maintenance and operation of a particular building, including, but not limited to: the cost of fuel for heat and hot water, payments for common space utilities, repair and maintenance, supplies, insurance and custodial services; fees for management and professional services; and a capital and/or operating reserve, if any.
(2) a proposed budget for the maintenance and operation of the particular building setting forth the projected operating expenses during the first year of private ownership, including, but not limited to: the cost of fuel for heat and hot water, expenditures for common space utilities, repair and maintenance, cleaning supplies, insurance, custodial services, fees for management and professional services, a reserve for vacancies and uncollectible debts, a capital and/or operating reserve, if any, real estate taxes, water and sewer charges and debt service.
(3) a calculation of the rent required on a per Room per month and per dwelling unit per month rate.
Source: City of New York, Charter, Administrative Code and Rules (American Legal Publishing XML export, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/newyorkcity/latest/NYCrules/0-0-0-56179Fetched: 10/24/2026