Rent Stabilization NYC
If a tenant decides not to renew a lease in a stabilized apartment, how much can you raise rents relative to improvement costs for the next lease?

EDIT: 
I found some articles regarding these rules. The legal jargon for this situation is called an Individual Apartment Improvement (IAI). You’re allowed to raise monthly rent by 1/168 (how’d they come up with that number) of total renovation costs and improvements are capped at $15000 every 15 years.

Here’s a helpful article for anyone interested: 

https://www.google.com/amp/s/therealdeal.com/2019/06/18/analysis-heres-what-the-new-rent-law-will-do-to-the-average-stabilized-apartment/amp/
[{"id": "fg1hgzg", "text": "Don\u2019t quote me on this but I\u2019m pretty sure some updates/improvements must be made in the unit first and the amount they cap the rental increase at is total BS.  \n\nLook it up in the NYREJ online, if I knew the exact article I would\u2019ve posted it here", "replies": [{"id": "fg1iz7k", "text": "I answered my own question, check out the edit if you\u2019re interested. Honestly a lot of valuable info.", "replies": [{"id": "fg1jkg9", "text": "RIP multi-family investors", "replies": [{"id": "fg1le9e", "text": "LOL\n\nI\u2019ll give it 2 years before they realize how bad they fucked up. No way this policy lasts.", "replies": [{"id": "fg1tpy4", "text": "The bitch of it is I can underwrite a multi-family deal so easily thanks to my background in residential leasing, but my multi-family investors are super timid now so there goes that", "replies": [], "depth": 5}, {"id": "fg3bsis", "text": "&gt; You\u2019re allowed to raise monthly rent by 1/168\n\nSome hourly government employee in a back office was bored and wanted to see if anyone was paying attention. Probably a six pack was bet on it MRW it was published without supervisor approval and became law.", "replies": [], "depth": 5}, {"id": "fg4fj4s", "text": "Actually not only is going to last but the state assembly is going to double down this calendar year and bring even more regulations on rent controlled apts including having to give tenants a ROFO if you choose to sell your building. \n\nAlso coming this year - mortgage recording tax on mezz debt, the pied a tier tax and commercial rent control. They tanked the multi family market in 2019 so they are coming back to finish the job this year.", "replies": [{"id": "fg6mb0v", "text": "I\u2019ve never heard anything about this. Do you have a link to some more info?", "replies": [{"id": "fgainl5", "text": "http://www.herrick.com/publications/potential-implications-of-proposed-mezzanine-tax-consequences-for-lenders-and-developers/\n\nhttps://commercialobserver.com/2019/12/the-city-council-is-taking-up-a-much-stricter-form-of-commercial-rent-control/\n\nhttps://www.crainsnewyork.com/real-estate/pied-terre-tax-revival-latest-threat-city-luxury-market\n\nThis guy Holyman is  NYC real estates sworn enemy. https://therealdeal.com/2020/01/31/at-bezos-condo-pol-demands-amazon-chief-pay-pied-a-terre-tax/\n\nhttps://therealdeal.com/2020/01/31/bill-make-landlords-give-tenants-first-shot-to-buy-buildings/\n\nThis doesn\u2019t include the complete destruction of the hotel industry as well. Current proposed legislation would require any new hotel (even as of right per zoning) to require a special permit to be approved by the city council. Why? The Hotel Trades Council. They will have unofficial approval rights over the permits because they are huge donors to city council members. This is payback from Comrade Billy D for the hotel union backing his presidential campaign. This also backed by the major hotel companies since they are all union anyway and helps eliminate their competition in the smaller boutique hotels that for the last decade + have been eating into their market share. These same unions and hotel operators also got a virtual ban on AirBnB pushed thru the city council.\n\nhttps://www.politico.com/states/new-york/city-hall/story/2019/09/13/de-blasios-defense-of-hotel-special-permits-complicated-by-history-1188255\n\nThe NYC real estate business has changed dramatically over the last decade and other than typical market cycles it is all caused by over regulation and government intervention.", "replies": [{"id": "fgpfw4k", "text": "Following up with more....And Im sure there will be more in the next few weeks. \n\n [https://therealdeal.com/2020/02/06/end-of-tenant-pays-broker-fees-is-death-knell-that-will-cost-jobs-and-up-rents-industry-says/](https://therealdeal.com/2020/02/06/end-of-tenant-pays-broker-fees-is-death-knell-that-will-cost-jobs-and-up-rents-industry-says/) \n\nHere is the state pushing into every corner of the market:  \n [https://therealdeal.com/2020/02/05/state-to-target-frankenstein-apartments-in-rent-law-regulations/](https://therealdeal.com/2020/02/05/state-to-target-frankenstein-apartments-in-rent-law-regulations/)", "replies": [], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fg3j2ia", "text": "My phone in Atlanta, is literally ringing off the hook with NY buyers wanting to buy my properties (which aren't even listed for sale yet).\n\nI would imagine everyone else that owns anything in the S.E. is getting the same phone calls.\n\nit seems like the fall out is already VERY real !!!!", "replies": [], "depth": 1}, {"id": "fgffyux", "text": "What they need to realize is now owners have no reason to invest in their properties. So yes, rent will stabilize, but the living conditions will suffer. Also, NYC makes a ton of profit from taxes on the sale of these properties, but now they wont trade.", "replies": [], "depth": 1}]