What is a Major Capital Improvement or MCI?
This applies only to buildings with rent stabilized and rent controlled apartments. A Major Capital Improvement (MCI) is an improvement to the building paid for by the owner, for which the owner wants the tenants to pay. The owner applies to the state’s housing agency for a rent increase that will spread the cost of the improvement over 7 years (84 months), and over the number of rooms in all the apartments in the building.
