Establishes a tax rebate program for rent-stabilized housing that targets buildings with individually occupied rent-stabilized apartments where the property tax burden significantly exceeds rental income.
Requires a notice informing tenants of their rights to be provided to tenants at the time they execute a residential lease and to be posted in certain buildings.
Requires an annual inspection and audit process which shall review five percent of individual apartment improvement notifications for rent stabilized apartments outside of the city of New York; requires additional audits where violations are found.
Requires certain large buildings in the city of New York to be retrofitted with sprinkler systems that are compliant with the NY state uniform fire prevention and building code.
Requires that any penalties for violations of housing standards or building and fire codes be assessed and imposed within fourteen days; increases certain fine amounts for violations of housing standards.
Requires an annual inspection and audit process which shall review five percent of individual apartment improvement notifications for rent stabilized apartments outside of the city of New York; requires additional audits where violations are found.