How to Get DHCR to Waive Useful Life Requirements for MCIs
If you’re planning to do work at your building and expect to get a major capital improvement (MCI) rent increase for it, you probably know that the work must meet the Division of Housing and Community Renewal’s (DHCR) useful life requirements. Those requirements are set out in Section 2522.4 of the Rent Stabilization Code (RSC). But what if you need to replace something before its useful life has expired? For example, say your building’s roof collapses before its useful life expires and you need to install a new roof.