How can our condo building pay for capital improvements?

… financing Often when a condo building needs to make major improvements the board opts for a special temporary … time permitting or the condominium can obtain a capital improvement loan  Increasing common charges in order to … loan to make capital improvements and spread the cost over 10 to 15 years  There are different types of loans that …

By Alanna Schubach |January 18, 2022 - 12:30PM
I renewed my lease with no rent increase. Why do I have to pay extra for a new major capital improvement?

… … If your landlord has legitimately made a substantial improvement to the building they can raise your rentbut only … an extent  our  experts  say An MCIthat is a major capital improvement is an improvement that benefits all tenants in a … the rent stabilization threshold Legislation passed  in 2019 capped MCI rent increases among many other reforms Now …

By Alanna Schubach |November 15, 2021 - 12:30PM
What is a 'major capital improvement' and how does it affect the rent?

… not feel so happy when the see the phrase major capital improvements Thats the term used for upgrades that justify a … even in the middle of a lease The city defines an MCI as an improvement benefiting all the tenants in the building … apartments the increase for the year is capped at 15 percent Tenant advocates argue landlords are getting …

By Emily Myers |November 28, 2018 - 2:00PM