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Old 07-14-2019, 02:17 PM
 
5 posts, read 11,579 times
Reputation: 10

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I hope that someone that reads this thread has years of experience and know the Local Law 11 rules .

I live in Rent Controlled Rent Stabilized apartment and the owner just did the Local Law 11 work and I do not think its fair that they pass the work off to us as MCI Major Capital Improvement to the tenants.

The landlords make a lot of money with rent they charge and this type of work should be absorbed as business expense and should be written off as business expense with the IRS that way not passed on to all the tenants in the building .

Please someone reply about this . I dont think its fair or right .

Thanks
DM0619
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Old 07-14-2019, 03:02 PM
 
Location: Confines of the 101 Precinct
19,620 posts, read 34,719,875 times
Reputation: 8404
Quote:
Originally Posted by DM0619 View Post
I hope that someone that reads this thread has years of experience and know the Local Law 11 rules .

I live in Rent Controlled Rent Stabilized apartment and the owner just did the Local Law 11 work and I do not think its fair that they pass the work off to us as MCI Major Capital Improvement to the tenants.

The landlords make a lot of money with rent they charge and this type of work should be absorbed as business expense and should be written off as business expense with the IRS that way not passed on to all the tenants in the building .

Please someone reply about this . I dont think its fair or right .

Thanks
DM0619
Facade repair is mandated for any building in NYC 6 stories or under. I believe we should be on Cycle 9 or 10, but I'm a bit out of the loop.
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Old Today, 06:55 PM
 
5 posts, read 11,579 times
Reputation: 10
Thumbs down Replying to your message ....

Quote:
Originally Posted by SeventhFloor View Post
Facade repair is mandated for any building in NYC 6 stories or under. I believe we should be on Cycle 9 or 10, but I'm a bit out of the loop.


That clearly DID NOT AND DOES NOT ANSWER WHAT I WROTE. CLEARLY YOU JUST REPLIED TO JUST REPLY. I WAS SPECIFIC TO ASK IS LOCAL LAW 11 ALLOWED TO BE PASSED ON TO THE TENANT AS A MCI MAJOR CAPITAL IMPROVEMENT, OR IS THE LANDLORD HAVE TO ABSORBED THE COST AS BUSINESS EXPENSE AND WRITE IT OFF THEIR TAXES AS SUCH.
MOST FRUSTRATING
THANK YOU
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Old Today, 06:56 PM
 
Location: Confines of the 101 Precinct
19,620 posts, read 34,719,875 times
Reputation: 8404
Quote:
Originally Posted by DM0619 View Post


That clearly DID NOT AND DOES NOT ANSWER WHAT I WROTE. CLEARLY YOU JUST REPLIED TO JUST REPLY. I WAS SPECIFIC TO ASK IS LOCAL LAW 11 ALLOWED TO BE PASSED ON TO THE TENANT AS A MCI MAJOR CAPITAL IMPROVEMENT, OR IS THE LANDLORD HAVE TO ABSORBED THE COST AS BUSINESS EXPENSE AND WRITE IT OFF THEIR TAXES AS SUCH.
MOST FRUSTRATING
THANK YOU
You know what's more frustrating??

People who don't read their leases and go signing s--t without reading it

Have a nice evening!
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Old Today, 07:04 PM
 
5 posts, read 11,579 times
Reputation: 10
Thumbs down Replying to your stupid comment




I dont know where you live but in New York with a Rent Control Rent Stabilized apartment that stuff is not in the lease. I just got my new lease Mr or Mrs know it all and it not in the lease!!!
Clearly you not knowledgeable because this stuff is set up by DHCR Laws, so that is why i was asking in hopes someone has some knowledge on this topic.

So thanks for your 2 cents for absolutely nothing.
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Old Today, 07:47 PM
 
10,929 posts, read 9,343,793 times
Reputation: 6621
Someone's got to pay for it, and in rental buildings, it's the tenants. Whether or not this can be MCIed is something that should be defined by the rent regulation code. If there's nothing that exempts LL11 work from being MCIed, then it can be.
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Old Today, 07:51 PM
 
Location: Confines of the 101 Precinct
19,620 posts, read 34,719,875 times
Reputation: 8404
Quote:
Originally Posted by DM0619 View Post



I dont know where you live but in New York with a Rent Control Rent Stabilized apartment that stuff is not in the lease. I just got my new lease Mr or Mrs know it all and it not in the lease!!!
Clearly you not knowledgeable because this stuff is set up by DHCR Laws, so that is why i was asking in hopes someone has some knowledge on this topic.

So thanks for your 2 cents for absolutely nothing.
Go do some research instead of having it laid out to you on a silver platter

Your Internet works!

Nothing in NYC is free

If a MoD says it, its bad tho!

At the end of the day you need legal advice, you think anybody on here is equipped to give you that?
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Old Today, 08:29 PM
 
1,059 posts, read 523,132 times
Reputation: 714
Check DHCR site to see if they approved it.
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