Int. No. 55
By Council Members Cornegy and Rosenthal
Title
A Local Law to amend the administrative code of the city of New York, in relation to registration of commercial leases
Body
Be it enacted by the Council as follows:
Section 1. Chapter 7 of title 11 of the administrative code of the city of New York is amended by adding a new section 11-707.1 to read as follows:
? 11-707.1 Registration of commercial leases by owner. a. No later than one year after the effective date of the local law adding this section, and in each year thereafter according to a schedule that shall be established by rule of the department of finance, every landlord of taxable premises shall submit to such department a registration statement containing, at a minimum, the following information:
1. An identification of such premises by block and lot number and by street address;
2. The tax identification number of such premises;
3. The floor area of such premises;
4. The name, address, electronic mail address and telephone number of such landlord or the managing agent thereof, if any;
5. A statement indicating whether such premises are being leased or rented to a tenant on the submission date;
6. If such premises are being leased or rented to a tenant on the submission date, a copy of the lease or agreement governing such lease or rental and a statement indicating the following:
(a) The duration of such lease or agreement;
(b) The average monthly rent charged for such premises during the twelve months preceding the submission date and a statement as to whether rent is owed annually, quarterly, monthly or otherwise and whether the rent for such premises is calculated based in whole or in part upon the revenue or financial condition of the tenant;
(c) Whether rent is owed annually, quarterly, monthly or otherwise and, if otherwise, the frequency that rent is owed;
(d) Whether the landlord or tenant bears resp...
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