Bill > S01656

This bill modifies regulations for major capital improvement (MCI) rent increases in New York City's rental housing market. The bill extends and modifies the process by which landlords can increase rents to recover costs of significant building improvements. Key provisions include: implementing a monthly surcharge system where rent increases are calculated based on the total improvement cost divided by 84 months, with a limit of 6% annual increase per apartment; requiring detailed documentation from property owners about improvement work, including information about property ownership and a statement that no tenant harassment has occurred; mandating that improvements must be substantial upgrades or additions that enhance housing quality, not just routine maintenance; and prohibiting MCI rent increases for improvements funded by the New York State Energy Research and Development Authority. The bill aims to balance landlords' ability to recover improvement costs with tenant protections by introducing more stringent documentation requirements, limiting annual rent increase percentages, and ensuring improvements meaningfully enhance housing quality. These changes apply to rent-stabilized housing in New York City and are part of ongoing efforts to regulate rental housing markets.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S1656