By Sabina Mollot
With the rent regulations set to expire on June 15, the New York State Assembly has set public hearings on May 2 and 9 to discuss a package of proposals aimed at strengthening the current laws.
Among the legislation includes a bill that would end major capital improvement (MCI) rent increases and also require the state housing agency to create a program ensuring property owners maintain a certain level of repair. MCIs are charges tacked on to a tenant’s rent to pay for improvements to the property.
“The major capital improvement rent increase program is a flawed system which has been overly complex for property owners to navigate,” said the bill’s sponsor, Assembly Member Brian Barnwell, “and has been a great disservice in our efforts to preserve the affordable housing stock.”
Another bill would end individual apartment improvements (IAI). Under the current law, landlords are allowed to raise rent after making IAIs, which can range from cosmetic repairs to redoing various rooms.