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Rent Stabilization Board
Rent Stabilization Board

1281. To allow for temporary rent adjustment for petitions that take over 120 days

If final action on any individual rent adjustment petition seeking an adjustment to the permanent rent ceiling is delayed beyond the 120 days following the date of proper filing, the hearing examiner or the Board, in the decision approving the petition, shall, upon request by the petitioner, in addition to any permanent rent increase or decrease awarded by the decision, award a temporary rent increase or decrease to compensate the petitioner for any monetary loss caused by the delay unless it is expressly found that the conduct of the petitioner or other good cause is responsible for the delay. The temporary increase or decrease awarded under this section shall be in the amount necessary to put the petitioner in the same monetary position as if the decision approving the petition had been issued 120 days after filing and may be amortized over a reasonable period, not to exceed eighteen months. Temporary adjustments awarded under this regulation shall not be subject to Regulation 1274.

[Amendment effective April 8, 1995.]

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