DHCR Charges 9 Percent Annual Interest on Rent Overcharge

Rent-stabilized tenant complained of rent overcharge. The DRA ruled for tenant and found a total overcharge of $3,475, including interest. The DRA ordered landlord to refund $965 after deducting a refund landlord made while the case was pending. Landlord appealed, claiming that the interest charged was excessive. The DHCR ruled against landlord. New York State law calls for a fixed annual rate of interest at 9 percent. And, although the DRA wasn't required to show how it calculated the interest, the DHCR provided a chart of how the interest was calculated on tenant's rent overcharge.

Kizner Associates, Inc.: DHCR Adm. Rev. Docket No. FO410055RO (10/18/17) [2-pg. doc.]