DRA Didn't Include Fuel Cost Adjustment
LVT Number: 11425
Tenant complained that the first rent-stabilized rent for his apartment was more than the fair market rent. The DRA ruled for tenant and reduced his first rent from $500 to $430. Landlord appealed, claiming that the DRA didn't take into account a fuel cost adjustment rent increase. The DHCR ruled for landlord. The DHCR recalculated the fair market rent by multiplying the special guideline percentage increase then in effect by the sum of the prior maximum base rent plus the allowable fuel cost adjustment. The DHCR also added 1/40th of the cost of apartment improvements omitted by the DRA, bringing the fair market rent up to $478.
Concourse Mgmt. Co.: DHCR Adm. Rev. Dckt. No. DF510041RO (11/22/96) [5-page document]