RSA Amendment Proposals for the Rent Stabilization Code

​Brooklyn resident Ariel Soudry has served as president of Better Living Properties Management since 1996. In addition to managing all aspects of property management, budget analysis, and staffing, Ariel Soudry is an active member of industry organizations such as the Rent Stabilization Association of NYC, Inc. (RSA).

The Rent Stabilization Association is New York City’s largest trade organization advocating for the interests of the local residential housing industry. The organization shares a variety of information with residential housing industry professionals and other interested parties, such as a series of proposed amendments to the city’s rent stabilization code.

For example, RSA has proposed multiple changes to substantial rehabilitation projects. The RSA maintains that these projects should strive to replace a minimum of 75 percent of housing accommodation systems. The existing stabilization code sets this figure as the maximum goal for accommodation system removals. The RSA has also set standards for replacing building systems, which do not include spending money on removal projects for purely aesthetic purposes.

Other proposed amendments involve changes to how base date rent is calculated and overcharge fees. The amendments also call for a default formula that can be applied to any owner who has acquired the property through a special sale, such as a judicial sale.

Finally, the RSA has called for eliminating the ability to charge first rent for combined units. Instead, when a pair of rent-stabilized units are turned into one, the resulting property should have a regulated rent equal to the value of the two previous rents added together.

A more comprehensive breakdown of the RSA’s proposed amendments to New York City’s rent stabilization code can be found at rsanyc.net.

Ariel Soudry

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