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Legal, IF LL spent that much

Posted by chelsea on July 17, 2001 at 18:21:38:

In Reply to: This is completely legal, if the LL did the renovations posted by MikeW on July 17, 2001 at 12:14:50:

According to my calculations, to bring a rent-stabilized apartment's legal rent from $800 to $2,000 between tenants, the landlord would have to perform about $42,000 in qualifying improvements (assuming a vacancy increase of 18% for a one-year lease).

To bring a $1,400 apartment to $2,000, about $14,000 would have to be spent.

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