Rent Transparency Act in Effect – Signage Available on HPD Website
The Rent Transparency Act is now in effect and imposes a new signage requirement on owners of rent-stabilized properties in New York City.
Under the Act, any building containing at least one apartment subject to the Rent Stabilization Law must post a sign in a conspicuous location near the building entrance advising tenants that the building includes rent-regulated units. Property owners are required to complete the sign by inserting the building address and HPD registration number in the designated fields. Failure to post the sign constitutes a violation of the Housing Maintenance Code and may result in enforcement actions by HPD.
Although HPD is responsible for issuing the final form of the sign, the statute specifies that the sign must, in substance, state that (a) the building contains units subject to the Rent Stabilization Law; (b) tenants may determine whether their apartment is registered as rent stabilized through DHCR; and (c) owners are required to file annual registrations and provide tenants with unit-specific information. The final form of the sign must also include DHCR’s telephone number and website.
The sign must be posted in English and Spanish and must include a website address where the sign is available in additional designated languages.
Importantly, this requirement is in addition to existing requirements under the Rent Stabilization Code, including DHCR-mandated notices already required in vacancy and renewal leases for rent-stabilized apartments.
Property owners and operators should review all signage at their buildings promptly to confirm that all required signage is posted in compliance with the Rent Transparency Act.
For questions regarding compliance or enforcement risk under the Rent Transparency Act, please contact your Kucker Marino Winiarsky & Bittens LLP attorney or reach out to the firm at 212-869-5030.
Media Contacts:
Briana Spariosu
Kucker Marino Winiarsky & Bittens, LLP
(212) 869-5030
bspariosu@kuckermarino.com