MDS Releases Product Update To Handle Newest RGB Guidelines

NEW YORK, July 12, 2012 /PRNewswire/ -- On Thursday, June 21, 2012 the Rent Guidelines Board (RGB) announced one and two year renewal rates for the approximately one million rent stabilized apartments in New York City. In addition to the standard one and two year percentage increases, the RGB announced that landlords may instead increase rents by $20 or $40 if the flat increase is higher than the percentage increase. In 2011, there was no such ability for landlords to raise a rent stabilized tenant's rent by anything but a percentage increase.  MDS Property Management Software, a company that specializes in the development and support of property management software for the New York based manager, immediately responded to the regulation with the introduction of an enhanced feature set within five days of the RGB's announcement.

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"For a large management company managing thousands of rent stabilized units, a change to the law like this is very significant. Most of our clients needed to have their October lease renewals out within just weeks of this announcement leaving them in quite a predicament.  Without this enhancement, they would have been left to do things the old fashioned way or re-issuing updated renewals at a later date, both of which are time consuming and costly.  The timely release of this update allowed them to proceed with business as usual without ever having to do anything manually.  As specialists in the New York market we have a huge advantage over our national competitors in that we only have to react to a single set of local regulations.  This allows us to introduce very specific features with a speed that is almost unheard of in the property management software industry," says Steven Friedberg, President of MDS Property Management Software.

MDS is a privately owned company that has been providing property management software to the local New York market since 1982. Their core business is the development, implementation and support of products designed to achieve maximum efficiency for the New York based manager.  A focus on the local market allows MDS to respond rapidly to changes in local law and market trends that cannot be matched by generic national software providers.  For more information about MDS, visit them on the web at www.multidataservices.com.

Contact: Adam Friedberg
Tel. 888-325-8307
Email: [email protected] 

SOURCE MDS Property Management Software