Increase Granted for Full Contract Price of Elevator Upgrading

November 1, 2000

LVT Number: 14503

Landlord applied for MCI rent hikes based on elevator upgrading. The DRA ruled for landlord, but allowed only the amount of the cost that had actually been paid to date. Landlord appealed, pointing out that the total cost of the MCI was higher than what was paid to date. Landlord was paying for the MCI under an installment payment contract, which had been submitted to the DRA. The DHCR ruled for landlord. DHCR policy is to approve the full contract price of an MCI when calculating the lawful rent increase.

Landlord applied for MCI rent hikes based on elevator upgrading. The DRA ruled for landlord, but allowed only the amount of the cost that had actually been paid to date. Landlord appealed, pointing out that the total cost of the MCI was higher than what was paid to date. Landlord was paying for the MCI under an installment payment contract, which had been submitted to the DRA. The DHCR ruled for landlord. DHCR policy is to approve the full contract price of an MCI when calculating the lawful rent increase.

BEG Realty: DHCR Adm. Rev. Dckt. No. OA210021RO (9/11/00) [2-pg. doc.]

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