WHEN TO FILE:

• September 4, 2012, no later!

WHERE TO FILE:

• You must file this form electronically with the NYC Department of Finance. To begin the form, click here.

FAILURE TO FILE WILL RESULT IN:

• Monetary penalties of up to 3-5% of the actual assessed value, and
• Forfeiture of a Tax Commission hearing to review the 2013/14 assessed valuation set by Finance

WHO MUST FILE?

• Owners of income-producing properties that have actual assessed values greater than $40,000 are required to file annual RPIE forms. This includes apartment buildings, commercial buildings, certain cooperatives and condominiums with commercial space, hotels, parking garages, theaters, etc. For a complete list click here.

WHAT ASSESSED VALUE IS USED?

• For RPIE-2011 due September 4, 2012 refer to the “Total Actual AV” as shown on the “Final Assessment Roll 2011-2012”.

WHO IS EXEMPT?

• For a list of exemptions, click here.

There have been many changes to the filing information this year. Click here for detailed instructions on completing the RPIE form.

For a list of Frequently Asked Questions see webpage

WHAT IF YOU DID NOT FILE OR FILED LATE LAST YEAR? If you did not file last year, or you filed late, your property is subject to penalties. For a list of all properties subject to penalties, click here.

For help managing your data for your RPIE filing, contact:sales@rissoft.com or visit the complete property management program by Realty Information Systems.

The Senior Citizen Rent Increase Exemption (SCRIE) Program offers eligible tenants a freeze in the amount of rent they pay. If a tenant is accepted into the program, they will not have to pay any rent increases as long as they meet the program eligibility requirements. Applicants must meet ALL of the eligibility requirements. In New York City, a tenant or tenant’s spouse (not the landlord!) must apply to the DOF and meet the following eligibility requirements: 62 years of age or older; living in a rent regulated apartment; combined household income at or below the income eligibility level currently set at $29,000; and paying at least 1/3 of their disposable income toward their rent. For complete eligibility requirements see: SCRIE Information for Tenants The tenant application can be downloaded here.

The difference between the tenant’s frozen rent amount and the current legal rent is given to the owner of the building as a corresponding credit against their real estate taxes from the City of New York. This credit is referred to as a Tax Abatement Credit (TAC). For more information for owners and managers go to web address:

In addition to the SCRIE program, there is another program for disabled persons. This is known as DRIE (Disability Rent Increase Exemption. For details visit the DRIE program web page.

 Annual rent registrations are required for all Rent Stabilized Apartments in New York City and Housing Accommodations Outside New York City Regulated by ETPA.

 This is an arduous task that is best done on the internet.  Using Property Management Software designed for the New York market, this process can be simplified.  Starting in 2010, the DHCR has created an upload capability so that your data, if properly formatted, can be uploaded all at once. Uploading the data will increase efficiency and help eliminate errors in the mandatory apartment registration process.

 RISSOFT Property Management Software by Realty Information Systems facilitates this process with robust programs to manage the registration data, diagnose the data to satisfy DHCR requirements, and create the upload file.  RISSOFT also has extensive instructions for this entire process. 

We have been using the RISSOFT Property Management Software system for many years but this is the first year we began using the DHCR upload.  I can’t imagine doing the registrations any other way.  We love the RISSOFT system. says M&ZManagement Corp. of Bronx, New York.

RISSOFT’s check scanning is a one-step process — just scan the checks onto a deposit slip using your computer, and click the finish button. In one click the deposit is uploaded to your bank, the tenant’s account is credited and the total deposit is posted to your general ledger.