Owners and managers of rent regulated properties should be aware that the Division of Housing and Community Renewal (“DHCR”) has issued updates to its RA-LR1 (“New York City Lease Rider for Rent Stabilized Tenants”) and RA-LR1 ETPA (“Emergency Tenant Protection Act [ETPA] Standard Lease Addenda for rent Stabilized Tenants”) lease rider forms. The form riders are required for use in all rent stabilized vacancy and renewal rent stabilized leases.
The revised riders reflect DHCR’s recent amendments to the Rent Stabilization Code, which were enacted on November 8, 2023. The revised riders are available on DHCR’s website at the following links:
Pursuant to DHCR’s guidance, the effective date for use of the revised riders is April 8, 2024. Any rent stabilized lease offered on or after April 8, 2024 must attach the revised form. Any lease offered prior to that date may be offered with either the updated form or with DHCR’s previous iteration of form RA-LR1.
For more information or if you have any questions, please reach out to your BBG attorney of record or contact us here.
Written by: Anthony Morreale, Partner in the Firm’s Administrative Law Department.