DHCR Won't Rule on Landlord's Application Without Landlord-Tenant Dispute
LVT Number: #31147
During March 2018, while an apartment was vacant, landlord made various individual apartment improvements (IAIs) costing $57,000. Under the law in effect when the IAIs were completed, landlord was entitled to add a monthly $950 increase to the next rent, representing 1/60th of the IAI cost. Effective June 14, 2019, HSTPA amended the Rent Stabilization Law (RSL) to substantially reduce IAI rent increases. For purposes of rent increase, IAI costs now were limited to $15,000 within a 15-year period and only three separate IAI increases could be added within the 15-year period.