Landlords and tenants sometimes find themselves engaged in disputes over who has to pay for general maintenance and upkeep. For instance, a landlord may try to keep a security deposit when a tenant moves out, saying that they need to fix all of the things that were...
Landlord/Tenant
Strategies for safeguarding tenant privacy in rental properties
If you are a landlord or property manager, protecting your tenants’ privacy is of utmost important. You should ensure legally compliant practices to safeguard their personal information and better ensure that their living space remains private and secure. Tenants have...
What’s a self-help eviction?
Landlords don’t like to conduct evictions. The legal process of an eviction can be complicated, messy and expensive. If a tenant is so inclined, there’s also the risk of significant property damage while the formal eviction process is followed. It’s no surprise, then,...
Understanding the co-op housing model
Housing is a pressing concern for New York residents, especially in the city. The need for housing in a limited real estate market has led to several models. Cooperative housing, commonly referred to as a co-op, is a communal living arrangement found in many New York...
New York law protects tenants and restricts landlords
The rent laws in New York have changed many times over the years, which has left many tenants unsure of where they would stand if they became embroiled in a legal dispute with their landlords. Some tenants believe that their landlords could cut off their utilities or...
Notable tax benefits available to landlords
Some New York residents find that owning rental property is rewarding. Although the role of the landlord carries much responsibility, there are also certain benefits. Among them are these federal income tax breaks. Operating expenses In a landlord/tenant situation,...
Determining reasonable charges for tenant damages
One of the challenges New York landlords and property managers face is assessing and determining reasonable charges for tenant damages. When tenants move out, it is not uncommon for there to be some level of wear and tear or damage to the property. Determining the...
Is someone allowed to share renters insurance with New York roommates?
It's no secret that New York has some of the most expensive apartments, condos and properties in the United States. So, many money-savvy adults want to split costly monthly rent expenses by taking on a roommate or two. Unfortunately, while roommates can split renters'...
Choosing between a finance or an operating lease
Businesses often lease property or equipment as they expand. This arrangement allows them to grow without cutting deeply into their profits. The company's goals will determine whether a finance or operating lease is the best option. Obtaining assets through an...
Landlord’s rights and obligations
Not everyone has the skills to succeed as a landlord. It takes tactfulness, responsiveness and focus. Once you find a good tenant, you don't want to lose them. So, treat them right, and they'll stay. Here are some tips to help you succeed as a property manager in New...