Major Capital Improvement (MCI) Increase
HCR guidance states that owners of rent stabilized apartments may increase rent through multiple lawful pathways, including MCI increases, and that rent controlled increases can also include MCI increases. MCI increases are administrative rent adjustments tied to qualifying building-wide improvements and orders granting increases.
- Where it applies
- NYS / NYC
- When it comes up
- Capital program planning; compliance; rent administration
- Property types
- Rent stabilized and rent controlled buildings
Rent Regulation (NYS/NYC)
- CityFHEPS
- DRIE (Disability Rent Increase Exemption)
- FARE Act (Fairness in Apartment Rental Expenses Act)
- Individual Apartment Improvement (IAI) Increase
- Legal Regulated Rent
- New York City Rent Guidelines Board (RGB)
- New York State Division of Housing and Community Renewal (DHCR/HCR)
- Preferential Rent
- Renewal Lease Notice Window (90-150 Days)
- Rent Control
General information, not legal, tax or financial advice.