Proposed cost caps for MCIs deemed “lose-lose” for tenants, landlords

More than a year after New York’s rent law was overhauled, the state has proposed cost caps for renovations that allow landlords to increase rents. The Division of Homes and Community Renewal’s proposed schedule of reasonable costs for major capital improvements, or MCIs, drew mixed reactions from landlord groups at a hearing last week. They griped about individual cost caps but cheered a waiver that can allow owners to avoid them. Tenants and their allies,

source https://therealdeal.com/2020/09/14/proposed-cost-caps-for-mcis-deemed-lose-lose-for-tenants-landlords/