Posted by SamE on July 18, 2001 at 00:38:13:
In Reply to: Re: Apartments Renting for $2,000 or more posted by New York Tenant on July 17, 2001 at 10:25:15:
: Lilly wrote: "When LL renovates an apt, he/she can charge 1/40 of the cost per month, plus a vacancy allowance (if applicable) and then the 4% or 6% increase."
: Actually, the landlord is entitled to monthly increases of (a) 1/40 of the cost of improvements
Yeah, but, according to DHCR: only if those things are not normal repair and maintenance like skim-coating and painting the walls or refinishing the floors and only if those things are not on the MCI list (for which LL can only file MCI's) and only if Ll has received no similar increases in the usual life of the items (duh!: LL must keep rent increase records for 10-20 years to prove this; same restriction on MCI's) and only if the LL can real of fake documentation for all items.
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