Posted by New York Tenant on April 17, 2001 at 13:23:08:
In Reply to: Re: I think I'm being overcharged? posted by Ace on April 17, 2001 at 12:51:16:
The percenatge increase for a vacancy lease in a rent stabilized apartment is 18% for a one-year lease, or 20% for a two-year lease. If there hasn't been a vacancy increase for at least eight years, there is an additional increase of 0.6% for each year that there hasn't been a vacancy increase. The renewal lease increase of 2% or 4% IS NOT added to these increases.
For major capital improvements (MCIs) in rent stabilized apartments, there is a monthly increase of 1/84 of the cost of the improvements, with an annual limit of 6%. Independent of an MCI increase, if there are improvements in an individual apartment, there is a monthly increase of 1/40 of the cost of the improvements in the apartment, with no percentage limitation.
: Call DHCR right away and get a listing of the rental history. It should state what the previous rents were and what has been added on -- the vacancy rate (around 18 to 20%) as well as the regular percentage that's added when one signs a lease (currently 4% for one year, 6% for two years). If the roof of the building was replaced, the boiler replaced, -- all this could add up, but MCI's (major capital improvements) are currently at a 6 or 7% level for any given year. LL must've done building wide improvements as well as individual apartment improvements (individual renovating of an apartment is, I believe, a higher and separate percentage that can be added along with the MCI percentage too) in order for LL to get the jump in rent done. Anything that the DHCR list does not have, I would inquire of the LL to fill in the blanks.
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