Rent Comparable Form - New York City

Rent Comparable Form is a legal document that was released by the New York City Department of Housing Preservation and Development - a government authority operating within New York City.

FAQ

Q: What is a rent comparable form?
A: A rent comparable form is a document used to compare rental prices for similar properties in a specific area.

Q: How is a rent comparable form used in New York City?
A: In New York City, a rent comparable form is used to determine if a proposed rent increase for a rent-regulated apartment is justified.

Q: What information is typically included in a rent comparable form?
A: A rent comparable form typically includes details about the size, location, amenities, and rental prices of similar apartments in the same area.

Q: Who uses a rent comparable form?
A: Landlords and tenants in New York City use a rent comparable form to support their arguments for or against a rent increase.

Q: What is the purpose of using rent comparables?
A: The purpose of using rent comparables is to assess the fairness and reasonableness of a proposed rent increase by comparing it to similar rental units in the area.

Q: Are rent comparables the only factor considered when determining a rent increase?
A: No, rent comparables are just one of the factors considered. Other factors, such as the condition of the apartment and changes in operating expenses, are also taken into account.