The new law has led to a significant uptick in landlord compliance for rent-stabilized apartments, highlighting the impact of increased penalties for non-registration.
"Although these registration numbers are preliminary, they far exceed recent historical trends and are a testament to both the work of the Office of Rent Administration and the Governor and Legislature for strengthening penalties on building owners who fail to comply," said Charni Sochet, a spokesperson for DHCR.
The state Division of Housing and Community Renewal is warning landlords who missed a July 31 registration deadline that they face fines of $500 per month per apartment – up from a one-time $10 surcharge that was rarely enforced.
Michael Johnson, a spokesperson for the landlord association Community Housing Improvement Program, said the new figures show that "99% of rent-stabilized property owners have complied with the new registration requirements" emphasizing the effectiveness of the recent enforcement changes.
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