What is a 'major capital improvement' and how does it affect the rent?

… not feel so happy when the see the phrase major capital improvements Thats the term used for upgrades that justify a … rent There are 27 categories on the list including rewiring intercom replacements mailboxes air conditioners and siding … … Rent hikes are capped … For rent stabilized apartments in NYC 6 percent is the maximum annual rent increase allowed …

By Celia Young |September 11, 2024 - 10:30AM
What's a reverse mortgage—and how common are they in NYC?

basic level a reverse mortgage is what it sounds like a home loan where the bank pays you based on your homes value … law according to the New York State Department of Financial Services NYSDFS Borrowers need to be at least 62 years old … also usually come with costs including closing appraisal application and attorneys fees though origination fees on …

By Celia Young |April 2, 2024 - 3:30PM