Prior MCI Rent Hike Bars New Rent Hike Within Useful-Life Period
LVT Number: #24695
Landlord applied for MCI rent hikes based on pointing and waterproofing. The DRA ruled against landlord, who appealed and lost. The DHCR had granted a prior MCI rent increase application in 2004 for pointing and waterproofing. That decision contemplated that, except for normal maintenance and repairs, the building facade would be structurally sound and watertight for the 15-year useful-life period provided by the Rent Stabilization Code.