NYC Rental Apartment Building Renovations

Apartment Improvements

Apartment Improvements
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OVERVIEW

Under New York's Rent Stabilization Laws, landlords may increase rents when they make qualified Major Capital Improvements (MCI) to a building or Individual Apartment Improvements (IAI). The law requires landlords to follow certain rules and guidelines when increasing rents based on MCIs or IAIs, and it provides an avenue for tenants to dispute rent increases they believe were made unlawfully.

Difference Between MCI and IAI

 

  • MCI - Owners can apply to HCR for approval after improvements have been made on a building. Any increase in rents is based on the actual, verified cost of improvement or installation. Some examples of MCI items include boilers, windows, electrical rewiring, plumbing and roofs. See Fact Sheet #24: Major Capital Improvements QA

 


 

Fact Sheets

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    Fact Sheet #35: Collectibility of Major Capital Improvement

    Rent stabilization codes authorizes tenants to apply to the Office of Rent Administration for a reduction of the legal regulated rent to the level in effect prior to the most recent guidelines adjustment, and provides that such order reducing the rent bars the owner from applying for or collecting any further rent increases until the services are restored.

     

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