Park West Village Tenants' Ass'n v. New York City Conciliation & Appeals Board

Before July 2, 1975, landlords owning rent stabilized apartments in New York were entitled to comparative hardship rent increases based on a ratio between operating expenses and gross rents (Local Laws, 1969, No. 16 of City of New York; Administrative Code of City of New York, § YY51-6.0). This "ratio formula” was apparently deemed to be unfair to tenants and the statute was amended by chapter 392 of the Laws of 1975 to substitute a more restricted "dollar differential formula” for the previous ratio formula. Apparently the dollar differential formula is more favorable to tenants and less…