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Re: Renovations Increase Formula

Posted by Tami on September 14, 1998 at 19:01:24:

In Reply to: Renovations Increase Formula posted by Tommy Suzuki on September 14, 1998 at 15:12:48:

:You're right, it's 1/40 for anything done to an individual apartment that's "new services, new equipment, or improvements other than repairs." If you were occupying the place, they'd have to get your permission for stuff, but as long as it's vacant, they can do anything falling into these categories without your consent and simply incorporate that 1/40 into your starting rent. No cap as far as I'm aware. (And it's not just until you've paid off the landlord's costs; it's "forever.") Also, remember to add the 2 or 4 percent renewal increase, depending on the length of your lease.

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