New York bill A01773 limits rent adjustments for major capital improvements.

New York bill A01773 amends the administrative code to place limits on rent adjustments for major capital improvements. It specifies that such improvements must be essential for preservation, energy efficiency, functionality, or building-wide improvements. The cost of these improvements must be amortized over a twelve-year period for buildings with thirty-five or fewer units, or a twelve and one-half year period for buildings with more than thirty-five units.

New York bill A01773 limits rent adjustments for major capital improvements.

New York bill A01773 amends the administrative code to place limits on rent adjustments for major capital improvements. It specifies that such improvements must be essential for preservation, energy efficiency, functionality, or building-wide improvements. The cost of these improvements must be amortized over a twelve-year period for buildings with thirty-five or fewer units, or a twelve and one-half year period for buildings with more than thirty-five units.