A new owner bought the builidngs 4-01. They now own 4 bldgs., at least 20 apts. in ea.
The apts. are rent stabilized or rent controlled. All are dependent on 1 boiler and 1 hot water system.
When a tenant leaves, through a buy out, or tenants' life changes, the apts. are "gut renovated".
How can anyone find out the real up- grade expenditures of the owners?
Apts. that rented under R.S. for 800.00, or less are now going for 1,900. One 20% vacancy alowance, and they are removed from the R.S.
system. The infrastructure- hot water, heat, has not been upgraded. It's totally cosmetic. Better lit hallways,
Newly painted, and carpeted.
I'm expecting an attempt for an MCI increase soon. New tenants are so desperate, 2-3 to an apt.,to afford the new rent, they won't speak to the older tenants.
There are many issues in my note, but does anyone out htere have a method of discovering the actual expenditures of an owner, in renovating an apt.?