What is a 'major capital improvement' and how does it affect the rent?

… While you want our apartment to be kept in good condition tenants of rent controlled or … rent even in the middle of a lease The city defines an MCI as an improvement benefiting all the tenants in the … … Rent hikes are capped … For rent stabilized apartments in NYC 6 percent is the maximum annual rent increase allowed …

By Celia Young |September 11, 2024 - 10:30AM
I renewed my lease with no rent increase. Why do I have to pay extra for a new major capital improvement?

… landlord has legitimately made a substantial improvement to the building they can raise your rentbut only to an extent  our  experts  say An MCIthat is a … status MCI rent increases are prohibited in buildings where fewer than 35 percent of the apartments are …

By Alanna Schubach |November 15, 2021 - 12:30PM
I'm a rent-stabilized tenant and I got a MCI increase lowered by $159,000 for my building

… some of the apartments are going to be destabilized because the rent will cap out As of January 2019 if the rent for … City real estate experiences Have a story to share  Drop us an email We respect all requests for anonymity … How did … would benefit all of the tenants … What happened after you contacted DHCR … It was a very long process but DHCR did …

By Nikki M. Mascali |May 16, 2019 - 12:00PM