New York A02390 amends laws to require reporting of rent concessions and net effective rent to the Division of Housing and Community Renewal.

New York A02390 amends the Emergency Tenant Protection Act of 1974, the administrative code of the city of New York, and the real property tax law. It requires reporting of rent concessions to the Division of Housing and Community Renewal. Concessions include rebates, discounts, and other temporary lease adjustments. The bill mandates that annual statements include a statement of net effective rent, which reflects the value of any concessions. It also requires certain annual statements to include reporting of rent concessions.

New York A02390 amends laws to require reporting of rent concessions and net effective rent to the Division of Housing and Community Renewal.

New York A02390 amends the Emergency Tenant Protection Act of 1974, the administrative code of the city of New York, and the real property tax law. It requires reporting of rent concessions to the Division of Housing and Community Renewal. Concessions include rebates, discounts, and other temporary lease adjustments. The bill mandates that annual statements include a statement of net effective rent, which reflects the value of any concessions. It also requires certain annual statements to include reporting of rent concessions.