Recording income derived from tenants
Source version current through Sep 15, 2021
Later State Register activity may affect this section.
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(a)At the close of business at the end of each month, income derived from tenants shall be recorded in the general and the income analysis ledgers by a journal entry, as follows:
| Debit: Account 1122, Tenants Accounts Receivable | $XXX |
| Debit: Account 3111, Dwelling Vacancy Loss | $XXX |
| Credit: Account 3110.1 Dwelling (Basic) Rent Schedule | $XXX |
| Credit: Account 3110.2, Dwelling Rent Surcharges | $XXX |
| Credit: Account 3110.3, Retroactive Surcharges | $XXX |
| Credit: Account 3110.4, Excess Utility Charges | $XXX |
| Credit: Account 3390, Net Non-Dwelling Rent | $XXX |
| Credit: Account 3510, Sales and Services to Tenants | $XXX |
| Credit: Account 3590, Miscellaneous Project Income | $XXX |
(b)The sources of the figures for this entry are as follows:
| Item | Source |
|---|---|
| Tenants Accounts Receivable | Column 10 of the Tenants Charge and Credit Book |
| Dwelling Vacancy Loss | Column 17 of the Rent Roll and Vacancy Loss Control Book |
| Dwelling Rent Schedule | This is the Basic Rent Schedule recorded in column 10 of the Rent Roll and Vacancy Loss Control Book as of the last day of the previous month |
| Dwelling Rent Surcharges | Column 20 of the Rent Roll and Vacancy Loss Control Book |
| Retroactive Surcharges | Column 13 of the Rent Roll and Vacancy Loss Book |
| Net Non-Dwelling Rentals | Column 5 of the Tenants Charge and Credit Book |
| Sales and Services to Tenants | Column 6 of the Tenants Charge and Credit Book |
| Miscellaneous Project Income | Column 7 of the Tenants Charge and Credit Book |
(c)The control account to be credited will, of course, depend on the particular program whose income is to be recorded, as described in section 1642-3.8. Collection losses are recorded by separate journal voucher, as described in section 1642-4.6.
(d)In situations where the division does not require the recording or reporting of vacancy losses, such as in the case of commercial rentals, other non-dwelling rentals, buildings on or off the site marked by the local agency for demolition, and during the initial operating period of the project proper, it is nevertheless recommended that the charging of the tenants accounts be made from established rent schedules and a memorandum record of vacancy losses, to agree with the established rent schedule, be maintained.