Landlords abusing renovation rule: report

A report by a tenant advocacy group says landlords of rent-regulated apartments in New York City have been abusing the rule that allows them to raise rents after renovations of vacant units, as reported in The Real Deal in August. The report, prepared by the Association for Neighborhood and Housing Development, an organization of non-profit housing and community development groups, found eight cases in which landlords were accused of claiming to have spent $12,000 to $60,000 on improving units, making few upgrades and doubling or tripling the rent. The apartment improvement rule allows landlords to add one-fortieth of the renovation costs on a unit to its monthly rent.