§ 32-05 Rent Regulation.
RCNY § 32-05
(a)Applicability of Rent Regulation: Notwithstanding the provisions of the City Rent and Rehabilitation Law (§§ 26-401 et seq. of the Administrative Code), as amended; or the Rent Stabilization Law of 1969 (§§ 26-501 et seq. of the Administrative Code), as amended; or the Emergency Tenant Protection Act of 1974, as amended, the rents of each dwelling unit in an Eligible Multiple Dwelling, except Exempt Dwelling Units, shall be fully subject to control under such local laws and act for the entire period for which the Eligible Multiple Dwelling is receiving benefits pursuant to the Act. An Eligible Multiple Dwelling receiving benefits pursuant to the Act whose benefits are suspended, terminated or revoked by the Department shall be deemed to be receiving benefits for the length of time such benefits would have been received if such benefits had not been suspended, terminated or revoked, or for the period such local law is in effect, whichever is shorter.
(b)Deregulation of Units: After the expiration of the Benefit Period, such rents shall continue to be subject to rent regulation, except that such rents that would not have been subject to such rent regulation but for this Section, shall be decontrolled if the landlord has included in each lease and renewal thereof for such unit for the tenant in residence at the time of such decontrol a notice in at least twelve point type informing such tenant that the unit shall become subject to such decontrol upon the expiration of benefits pursuant to the Act.
