Rent Stabilization
Does anyone know if major renovations to a property can get it out of rent stabilization requirements?
Does anyone know if major renovations to a property can get it out of rent stabilization requirements?
the test is quite extreme – it has to be the equivilant of a new building – traditionally, it was stand in the cellar and see the sky
easier route is the $2000 rent, but don’t count on that holding past 1st qtr of 2009.
If you missed yesterday’s news, the likelyhood of the Democratic state senate is very high and the end of the 2K option likely. This does not seem to be the time to invest one cent in stabilized housing. Welcome back the 1970’s and radical disinvestment in NYC rental housing
Yes, but you have to be able to substantiate increases. Call rent stabilization and they may be able to clarify for you what they consider capital improvements. Of course you will also be able to get the standard increases including the vacancy increase.