Corporate Income Not Considered in High-Rent Deregulation Proceeding
LVT Number: 19382
Landlord applied for high-rent/high-income deregulation of tenant's apartment. Tenant said her income was less than $175,000 for each of the prior two years. The DRA ruled against landlord after verifying tenant's income with the DTF. Landlord appealed and lost. Landlord pointed out that tenant's lease was in the name of Carol Kamel, Inc. It said the DRA had considered only Carol Kamel's personal income, but her corporate income should also be considered. The DHCR said the Rent Stabilization Code allows it to consider only the income of individual apartment occupants to determine whether high-rent/high-income deregulation applies. The DHCR can't consider tenant's corporate income.
Beaux Arts Realty LLC: DHCR Adm. Rev. Docket No. UH410003RO (11/9/06) [3-pg. doc.]