Just & Reasonable Application Packet
When reasonable operating costs exceed a property's income from the rent increases allowed by the Rent Stabilization Ordinance, the owner may submit an application requesting a Just and Reasonable rent adjustment subject to a Hearing Officer's authorization. This application packet contains the application, the Rent Adjustment Commission's (RAC) Guidelines, and the Price Level Adjustment Matrix. The online application computes the proposed rent increase. You will need the RAC Guidelines to properly fill out the application.