Does the tenant see this?
No. The tenant’s offer shows the market figure and the notice basis. The regulation you record and any exemption reason are yours.
From the guide The Legal Rent-Increase Advisor.
Checking an offer
While you write a renewal offer, the advisor checks the rent you type against the ceiling and the notice that increase needs — under New York's Real Property Law § 226-c an increase of 5% or more needs 30, 60 or 90 days depending on how long the tenant has lived there. "Use this rent" puts the suggestion in the offer; you still decide.
Read the whole guide: The Legal Rent-Increase Advisor