Few issues in the field of rent regulation are as hotly contested as major capital improvement (MCI) rent increases. On the surface, an owner’s MCI application would not seem overly controversial: the owner installs much needed equipment in a building—such as a boiler or new windows—and in exchange receives a modest (albeit permanent) rent increase. The tenants get an improved building, and the owner gets an increase in rents. In theory, everybody wins.
The reality is different. Some tenants will oppose any increase, even if they substantially benefit from the work. And some owners may perform shoddy or unnecessary work just to increase rents.
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