Friday, April 6, 2012

Calculate the Percentage MCI increase if it applies to you

IF you are rent stabilized, you may have gotten an "MCI retro" increase on your April 2012 bill.  
(It does not apply to SCRIE and DRIE tenants.)

You would NOT get that if you paid the "retroactive" MCI amount in full a year ago.

If you got such an increase on your April bill, check the figures:

1. Look at the "MCI retro" amount on your MARCH 2012 bill.  Multiply that number by 12.  That's how much you've paid so far of the total of total MCI retroactive amount.  (Scroll down on this page to see the amount for a 1-bedroom, 2-bedroom or 3-bedroom apartment.)

2. Then look at what your BASE RENT (not including any "MCI retro" amount) on your MARCH 2012 bill.  Multiply that amount by 0.06 to get the 6% increase that Stellar is allowed to impose until you've finished paying off the full retroactive amount. 

If that figure does not match what is on your APRIL 2012 rent bill, call Stellar Management and ask about it.