Bill > S03813

This bill establishes a strict 120-day time limit for landlords to submit supporting documentation when seeking rent increases for major capital improvements (MCIs) in New York City rental properties. Specifically, the bill amends several existing housing laws, including the administrative code of New York City, the Emergency Tenant Protection Act, and the Emergency Housing Rent Control Law, to mandate that landlords must file their MCI applications with all necessary documentation within 120 days of completing the improvements. Major capital improvements are defined as essential building enhancements that affect preservation, energy efficiency, functionality, or infrastructure, such as improvements to heating, windows, plumbing, and roofing. If landlords fail to submit the required documentation within this 120-day window, they will be prohibited from receiving any rent increase for those capital improvements. This provision aims to create a more transparent and time-sensitive process for documenting building upgrades and potential rent adjustments, potentially providing better oversight and protection for tenants by ensuring timely and complete documentation of significant property improvements.