Author Archives: abogny

Nighttime building temperatures will have to be a minimum of 62 degrees next winter, regardless of outside temperature, under legislation passed by the City Council yesterday and expected to be signed by the Mayor. CHIP and ABO opposed the measure, … Continue reading →

City water rates will be frozen at 2016 rates for another year per the Department of Environmental Protection’s recommendation to the Water Board yesterday. A State Supreme Court Judge has threatened to put an apartment building into receivership if the … Continue reading →

Building owners will be required to file annual reports on bedbug infestations and either send notices to tenants or post the information under legislation signed into law by Mayor de Blasio, Wednesday. The law goes into effect in six months. … Continue reading →

Congress, yesterday, gave final approval for increased funding for tenant and project based Section 8 for the remainder of the fiscal year ending September 30th–basically allowing for continued funding of existing benefits due to inflation–but the Trump administration is seeking … Continue reading →

Mayor De Blasio’s 2017-18 Executive Budget Proposal, released Wednesday, anticipates a 5.9% overall increase in property taxes. As always, Class 2 residential would pay a disproportionate share. A coalition of homeowner and industry groups, including CHIP, announced a lawsuit, Tuesday, … Continue reading →

The Rent Guideline season continued to heat up this week with the release of Mayor De Blasio’s tax returns, showing he raised the rent on one of his apartments an average of 2.6% per year since 2009. No freeze there. … Continue reading →

The Price Index of Operating Costs released by the Rent Guidelines Board yesterday showed an overall 6.2% increase. The index reflected a 7.8% increase in property taxes, the largest area of expense, and a 24.6% increase in fuel costs. Accordingly, the PIOC … Continue reading →

The New York City Council, Wednesday, passed legislation prohibiting employers from asking job applicants what they were paid at their last job, or relying on that information to make salary offers. If signed by the Mayor, as expected, employers will … Continue reading →

Owners’ net operating income rose 10.8% in 2015 according to Income and Expense data reported by the Rent Guidelines Board yesterday. Expenses rose 1.1%. The tightest margins appeared to be on 11-19 unit Bronx buildings with average rents of $913 … Continue reading →

Today is CHIP’s Annual President’s Club lunch. A major announcement is planned for the event. Republican State Sen. Robert Ortt was indicted yesterday for alleged election law violations. Ortt’s removal from the Senate, if convicted, could tip the balance of … Continue reading →