Establishes an annual inspection and audit process for rent-stabilized apartments outside New York City, reviewing 5% of improvement notifications.

The bill mandates an annual inspection and audit process for rent-stabilized apartments outside New York City. This process will review five percent of individual apartment improvement notifications to ensure compliance with legal obligations. If an audit finds that the recoverable costs claimed by landlords cannot be substantiated, the overcharge is considered willful. The bill also requires additional audits of all rent-regulated units under the landlord's ownership if violations are found.

Establishes an annual inspection and audit process for rent-stabilized apartments outside New York City, reviewing 5% of improvement notifications.

The bill mandates an annual inspection and audit process for rent-stabilized apartments outside New York City. This process will review five percent of individual apartment improvement notifications to ensure compliance with legal obligations. If an audit finds that the recoverable costs claimed by landlords cannot be substantiated, the overcharge is considered willful. The bill also requires additional audits of all rent-regulated units under the landlord's ownership if violations are found.