IAIs Made Prior to HSTPA Enactment Not Limited to $15,000 Cap

In early February, the DHCR released its online service that enables building owners to report information concerning individual apartment improvements (IAIs) for apartments subject to rent stabilization or rent control as required by the Housing Stability and Tenant Protection Act (HSTPA) of 2019. This reporting requirement is mandated by HSTPA to keep track of the temporary nature and limits of rent increases from IAIs.

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