Owners of rent stabilized properties should be aware that the New York City Council has unanimously passed The Rent Transparency Act (the “Act”) adding another notice requirement which must be posted in their buildings. Specifically, the law requires that the owner of a building containing at least one rent stabilized apartment, post a notice in a conspicuous area near the entrance of the building that states that the building contains rent stabilized units.
Although the law requires that HPD promulgate the form of the final notice, according to the statute, it must include the following language:
“This building contains one or more units that are subject to the Rent Stabilization Law of 1969. To find out if your unit is registered as rent stabilized, contact the New York State Division of Housing and Community Renewal (DHCR). Owners of such buildings must submit an annual filing to DHCR and provide each tenant with a copy of the information that pertains to their unit. Owners that fail to file may be subject to penalties.”
The Act also requires that the notice includes DHCR’s phone number and website address where an inquiry into the rent stabilized status of their apartment can be submitted. The notice must be posted in English and Spanish and include a website address where the notice may be obtained in other designated languages.
Of course, the Rent Stabilization Code already requires that owners include a 13-page DHCR-promulgated notice in each rent stabilized vacancy and renewal lease, which advises the tenant that their apartment is subject to Rent Stabilization, how their rent has been calculated, as well as of all their attendant rights under the law.
The law is expected to take effect on or about December 24, 2025.
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Reach out to your BBG attorney of record or contact us here to discuss how these updates may apply to your specific situation.
Written by: Anthony Morreale, Partner, Administrative Proceedings Department