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NYC Rent Rolls and Supplement Storefront Registration Update

August 12, 2020
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Good news for owners and operators of New York City properties. The New York City Department of Finance (DOF) has extended the deadline for filing of the rent roll portion of the Real Property Income and Expense (RPIE) statements, for commercial and residential, until October 1, 2020. The rent roll information addendum is required for properties that have an actual assessed value of $750,000 or greater.

In addition, DOF has now made the following previously required residential rent roll information optional:

  • Number of months vacant
  • Name of tenant
  • Net rentable area
  • Number of rooms
  • Number of full bathrooms/half bathrooms
  • Apartment style
  • Start date of current lease/end date of current lease
  • Free rent offered during the reporting period

Reminder: The DOF provides residential and commercial rent roll templates for RPIE filing in an excel format. Required information is highlighted in red font for the presented template column headings. In the monthly rent column on the residential rent roll information template, RPIE filers should report only rent as of the last month of the reporting period.

Futhermore, there is a new RPIE storefront registry requirement for storefront(s) previously registered by the July 1, 2020, deadline. A Supplemental Storefront Registration must be filed with the DOF for registered storefront(s) that was sold or became vacant between January 1, 2020 and June 30, 2020. If the property does not have storefront space, has not been sold or did not have a vacancy between January 1, 2020 and June 30, 2020, nothing needs to be done with this portion.

The Supplemental Storefront Registration (2019) can be accessed at the following link https://webapps.nyc.gov/cics/rpe1/rpie001i. You would need to access this Supplemental Storefront Registration with the same borough, block, lot, and password used to access the RPIE filing that was due on July 1, 2020.

Please feel free to reach out to us regarding RPIE Rent Roll filing and the Supplemental Storefront Registration.

Ron Badke, CPA
Director
rbadke@citrincooperman.com
Jessica Tsang
Director
jtsang@citrincooperman.com