Posted by Tommy Suzuki on September 14, 1998 at 15:12:48:
After the current tenant leaves, I hope to rent his rent-stabilized Manhattan apartment, which is now $800. I know the landlord can get another 20 percent when the apartment is vacated, but are there any limits on the increase he will demand because of renovations he proposes, e.g., moving the kitchen bathtub and creating a bathroom instead of a WC, new floors, etc? In other words, what's the "formula" for increases? Is it 1/40th of the total cost, as I've heard? And is there a cap? Thank you.
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