Posted by Sy Pearlman on December 29, 2001 at 21:29:44:
The landlord recently completed capital improvements to our
mixed rental building in NYC. Each apartment was assessed for the improvement based on the number of rooms, the payments are to be made monthly (in addition to rent) and we were told that the total cost would be amortized in six years. Is it true, that
even when the total cost ($250,000) is paid off, we will continue
to be billed for this capital improvement forever ? Why?
It's like buying a car on payments, paying off the loan and then
continuing to pay for the car. Where can I find legal precedents
or housing law for this situation?
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