Property Management
Under New York's 'Housing Stability and Tenant Protection Act of 2019,' the Individual Apartment Improvement (IAI) rent increase system was changed by:
AEliminating IAIs entirely
BReducing the amount landlords can recover through IAI rent increases and requiring more documentation✓ Correct
CAllowing unlimited IAI increases with tenant consent
DLimiting IAIs to kitchens and bathrooms only
Explanation
The 2019 HSTPA significantly restricted IAI rent increases in rent-stabilized apartments: caps were placed on the total amount recoverable, the amortization period was lengthened, and stricter documentation requirements were imposed.
Related New York Property Management Questions
- Under New York's warranty of habitability (Real Property Law §235-b), a landlord must:
- In New York, a residential landlord must return a security deposit within how many days after the tenant vacates?
- In New York, a landlord who enters a tenant's apartment without permission and without the proper advance notice may be liable for:
- A property manager's primary fiduciary duty is owed to:
- In New York City, 'Major Capital Improvement' (MCI) rent increases in rent-stabilized buildings allow landlords to:
- In New York, a landlord who wrongfully withholds a security deposit after the tenant vacates may be liable for:
- Under New York City Rent Control, rents are regulated for:
- In New York City, a building owner who fails to register their rent-stabilized units with the DHCR may face:
Practice More New York Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New York Quiz →