Caps rent increases due to major capital improvements at six percent of the legal regulated rent.

This bill amends the Emergency Tenant Protection Act of 1974 to limit the amount of collectible rent increases due to major capital improvements to six percent of the legal regulated rent. It applies to improvements essential for the preservation, energy efficiency, functionality, or infrastructure of the entire building, excluding operation costs or unnecessary cosmetic improvements. The rent increase is collectable prospectively on the first day of the first month beginning sixty days from the date of mailing notice of approval to the tenant.

Caps rent increases due to major capital improvements at six percent of the legal regulated rent.

This bill amends the Emergency Tenant Protection Act of 1974 to limit the amount of collectible rent increases due to major capital improvements to six percent of the legal regulated rent. It applies to improvements essential for the preservation, energy efficiency, functionality, or infrastructure of the entire building, excluding operation costs or unnecessary cosmetic improvements. The rent increase is collectable prospectively on the first day of the first month beginning sixty days from the date of mailing notice of approval to the tenant.