Hot/Neutral reverse

Personally, I think the amount set by the rent stabilization board is a good benchmark for all rent increases. My suggestion would be to join the Rent Stabilization Association so that you can use their standard leases. Always have your tenants on a lease and make sure that lease clearly states that the apartment is not rent stabilized. At the appropriate time send them a new lease with the proposed rent increase, then the ball is in their court, they either accept it and send the signed lease back, contact you with a view to negotiation, or give notice that they're leaving. I think a catch up is appropriate, but I would limit it to a few percentage points above the RSB rent increase until the rent catches up with market.

Also take a look at other apartments for rent in your neighborhood that are similar in size, and condition. An apartment that has only had basic maintenance done for a few years rents for less than a renovated apartment.

Posted by: bohuma at January 8, 2009 11:16 AM in response to Raising the Rent

I think that two children under five can share a bedroom (even a tiny one) even if they're boy and girl. My older brother and I shared a bedroom into our teens, as did my two younger brothers. It wasn't always pleasant but we've all survived reasonably well into our forties. If you are keen on selling, but in no particular hurry to move, put your place on the market and dig in for a long wait. The real downside of this option is having to keep the co-op staged at all times, which can be stressful with two little kids. After you have all your ducks in a row for a sale you can buy, there will still be plenty to choose from and you will be in a better position to push for a quick closing.

Posted by: bohuma at December 25, 2008 12:25 PM in response to Are we stuck?

If your neighbor has homeowner's insurance, she should contact her insurer in the first instance and let their massive legal team do some work, after all that's why she pays her premiums. My husband and I just bought a condo and took out condo insurance, we also have an umbrella policy. The insurance agent told us to contact them first in the event of any home related legal issues and that they would do everything they can to sort it out.

Posted by: bohuma at December 25, 2008 6:49 AM in response to Damage to roof

I've never lived in a full service building, but I have always tipped the super for Christmas. My suggestion (for what it's worth) would be to figure out the total amount that you feel comfortable tipping, then dividing it among the people you feel have offered you service throughout the year. If that's all of them equally, divide the amount you intend to tip equally among all of them. I think most of the doormen and supers realize that not everyone has buckets of money. I strongly suspect (partly from the reaction of my supers) that quite a lot of people don't tip at Christmas.

Posted by: bohuma at December 25, 2008 6:38 AM in response to Tipping in rental buildings

I have found out that the bedroom circuits have Arc Fault Circuit Indicator (ACFI) circuits in accordance with the NYC Building Code. The Ground Fault Circuit Indicator (GCFI) tester we used to test it may be the issue. Apparently GCFI testers aren't always reliable for testing ACFI circuits. GCFI's are used in wet areas to prevent electric shocks and electrocutions, ACFI's are used in bedrooms to prevent fires.

The Sponsor, the General Contractor and his electrician have rechecked the wiring and are giving me a report tomorrow. Thanks for you comments, they've been helpful.

Posted by: bohuma at December 17, 2008 3:30 PM in response to Hot/Neutral reverse

When I was growing up in Australia, Uggs were the "uniform" of Australia's version of trailer trash (Westies). The uniform consisted of plaid shirt, jeans (skin tight for women), uggs. The hairstyle of choice for Westies was the mullet. Some of my relatives are Westies. I have one particularly grotesque aunt whose winter apparel largely consists of polyester track suits and Uggs - she weighs in at 350 lbs, smoked heavily (I'm told she's quit) and is loud and obnoxious. I have never owned a pair of Uggs and sincerely doubt that I ever will.

Posted by: bohuma at November 30, 2008 7:50 PM in response to wholesale ugg/supra/ato/air yeezy/gucci/puma/af1/bape/jordan/dunk/coach/women sneaker

New York real estate developers and corporate landlords don't want prices going down so they'd rather leave apartments empty than drop the prices. It's bizarre but it's the way it is. Landlords don't want to risk going too low in case the new legislature expand rent stabilization. Developers don't want to drop because they don't want to face a bunch of angry buyers demanding a refund of part of their purchase price. Unfortunately the pool of developers and corporate landlords, especially in Manhattan, is small enough that they operate as a cartel. There may be more room to move in the outer boroughs.

Posted by: bohuma at November 19, 2008 10:27 AM in response to The Skinny on New Condos? Anyone?

A lot of these were plastered over when townhouses were broken up into apartments and central heating installed. No landlord wants to pay to send heat up a chimney, and an open fire in an apartment is not something a lot of landlords want to encourage.

I would go through your Department of Buildings file before opening up the fireplace, just to make sure there are no permitting issues.

Posted by: bohuma at November 18, 2008 3:25 PM in response to exposing plastered over fireplace

Many years ago, I lived in a mansion converted to institutional use. We had deadlocks with buzzers at two doors, which were operated through the telephone system. They worked very well and were quite secure. Make sure the system you have installed has a video camera, and you might want to install a spotlight so that even on those dark winter afternoons you can see who is actually there.

Posted by: bohuma at November 18, 2008 3:22 PM in response to Security and the Front Door

Quite frankly, as a US taxpayer, I'd prefer the Treasury make equity injections into financial institutions than give them low interest loans. Equity injections shore up banks' Tier One capital, and give us, the taxpayers, a very real prospect that we'll make money on the deal. If we give them low interest loans, all we get is the low interest and the return of principal -i.e. we take all the risk, the shareholders get all the rewards. If we as taxpayers are taking on the risk, we should get the rewards too, might help pay our social security. Applies double to the auto industry.

Posted by: bohuma at November 15, 2008 8:28 PM in response to Citibank RIP...

Tell your architect that your budget is two thirds what it actually is, you might just be able to afford the renovation the architect proposes. Another option is to consult a quantity surveyor first, if such a profession exists in the USA. In Australia and the UK, quantity surveyors are the accountants of the architecture/construction industry, their one aim in life is to keep architects and builders grounded in the client's financial reality.

Posted by: bohuma at November 15, 2008 8:09 PM in response to Preparing for an architect

Real Estate Agent: But madam, the view!

Skeptical buyer: Yes, it's Brooklyn, I've seen it.

Posted by: bohuma at November 15, 2008 8:05 PM in response to View vs. Square footage??

Three alarm fire makes way for glorious new condo development.

Posted by: bohuma at November 15, 2008 3:38 PM in response to Notorious Crackhouse at 474 Greene Avenue Up In Flames

Get a lawyer. Do a google search on tenant lawyers and you'll come up with plenty.

The law of landlord and tenant in NYC is quite complex and it is incumbent on both landlords and tenants to make sure that they follow the law to the letter. Your landlord may be correct when he says its a free market apartment and he can charge what he likes, but he may also be incorrect. If he did not follow the law precisely he may find himself back in rent regulation hell.

Notwithstanding COs etc. if you suspect that the wiring is not up to code, you can file a complaint with the DOB.

Posted by: bohuma at November 13, 2008 8:16 AM in response to Pre-1938 CofO renovation question

Estate Law varies slightly from state to state. Your friend should contact the bar association in their state and get some names. What is true under NY law may not be true under your friend's state's law.

Posted by: bohuma at November 5, 2008 12:50 PM in response to Wills/Estates Lawyer in Brooklyn/NYC

Sounds like your neighbors are real a-holes, I hope they never need to get access to your yard to work on their house. That being said, I concur with z. Whatever you do, try not to antagonize them.

You might also check with your attorney to see if there is any law that requires them to give reasonable access. You might find that this situation is addressed in the building code. I know that if the city needs access to your yard to work on city property, you have no choice but to grant it. If the work cannot be undertaken without getting access, and the Department of Buildings approved it, that approval may also carry with it authorization to access your neighbor's property to undertake the work.

BTW Bob, the neighbor's had opportunity to comment on the plan when the request for a building permit was submitted. I don't know about you but I always read those notices that get posted on buildings around my area.

Posted by: bohuma at November 5, 2008 10:50 AM in response to Need advice on neighbor relations during construction

I don't get landlords in this city. State law requires heat to 68 degrees, if I were a landlord that's what you'd get, not a degree more on my dime. With energy prices the way they are, you'd think every landlord would be looking at this. A thermostat valve for a steam radiator costs around $80 installed, landlords are penny wise pound foolish not to install them.

Posted by: bohuma at November 3, 2008 1:07 PM in response to Overheating

Hubby and I bought a two-bed, two bath unit and a parking space, we're just waiting to close. The paperwork the developer has to submit to the city before we can close seems interminable. The parking spaces are selling at $25,000 each, which is dirt cheap if you ask me. A condo development down on 3rd (dangerously close to the U-Haul depot) was charging $55,000 when we were looking at it, but they were too expensive anyway. 475 Sterling is about the cheapest price per square foot that we've seen anywhere in the neighborhood. Our guess is that one of the reasons its cheap is that they aren't including things like shower rails, towel rails, toilet roll holders and the like. Quite frankly I'd rather not pay $100,000 more for $3,000 worth of contractor grade fittings which I'd rip out within six months of moving in.

Matt

Posted by: bohuma at November 2, 2008 1:55 PM in response to Checking In On 475 Sterling

If it's anything like a time share presentation it really is a hard sell. I haven't seen any "direct buy" memberships for resale on the internet, but you never know your luck. If anyone out there is thinking of going to a time share presentation, look up the resale prices on the internet before you go to the presentation. You will find that the resale prices are 25% - 50% of the price that's offered by the sponsor. If you have the resolve, take the free vacation, if you like the plan, buy it on eBay or another website.

Posted by: bohuma at October 23, 2008 8:36 AM in response to Direct Buy?

Work then invoice is not a terribly good idea, especially if it's something more than fixing a leaky faucet. At the very least you want a written estimate, which you sign as your acceptance. Letting them do the work and then invoice you is the kind of practice that's prevalent in the Department of Defense, that's why we pay $25 for a $2 hammer.

Posted by: bohuma at October 22, 2008 5:02 PM in response to contracts, contracts, everywhere contracts

I don't get some landlords - do they want to burn money? To me getting the heating system operating efficiently and at exactly the right temperature is a no brainer for saving a good 25 - 30% on the fuel bill. I guess they're all pennywise and pound foolish.

Posted by: bohuma at October 21, 2008 12:53 PM in response to Radiator Steam Valves - Recommendations?

Sometimes people have no credit because they have only just arrived in the USA. If this is the case, they'll be able to produce a passport with an I-95 that shows a recent date, it will also indicate the type of visa they have. If the person is here on say a H-1B or an L1 visa, they're working for a company in a reasonably senior position and the company will probably guarantee the rent. They also may not have received their social security number yet. In my experience, a lot of landlords and rental agents can't be bothered with these people, which is a real shame because they can be ideal tenants as they'll pay on time and are less likely to get fired from their jobs.

Posted by: bohuma at October 21, 2008 11:11 AM in response to Landlord credit/reference check

I really wish we had some state legislators with backbone. When I lived in Australia, it was a requirement that the security deposit (called a bond there) be lodged with a state government agency. When the rental ended, the tenant completed a state form and the real estate agent (most rentals are managed by real estate agents) would send the form in, and the state agency would send the bond, plus interest, directly to the tenant. If the landlord wanted to claim part of the bond, s/he had to apply to the state, and there was potential for a hearing. This is considered consumer protection in Australia, there were just too many landlords trying to keep the bonds (or making bad investments with them) and the government felt it had to step in.

Posted by: bohuma at October 20, 2008 11:12 AM in response to Deposit return ???s

When you write to your former landlord send the letter certified mail so that there is a record of her receiving it. Most landlords recognize a certified letter as the first step in a paper trail for a legal action and will respond fairly promptly. Of course if she's clueless it won't help, but you have the first step in a paper trail. She's not allowed to keep your money, that's the bottom line. If you left at the end of a lease or with the appropriate notice for a month to month, then she can't claim unpaid rent, and her inability to relet the apartment is not your problem. There are loads of tenant advocates hanging around housing court, you could ask them for advice too.

Posted by: bohuma at October 20, 2008 8:31 AM in response to Deposit return ???s

To be perfectly honest, forging your signature is a criminal offense, almost certainly a felony. I don't know enough about racketeering law to know whether this would come close to that. I think you should file a police complaint.

Posted by: bohuma at October 17, 2008 9:59 AM in response to Energy Scammers Plaguing Brooklyn?

I think this place is beautiful, and I don't think I'd want the kitchen on a different floor to the dining room, too much carrying of trays up and down stairs. Of course when the brownstone design was developed, most middle class families had a live in housekeeper and a maid to do all the fetching and carrying. I can think of lots of reasons why I wouldn't want to rent out a garden level apartment - the risk of getting a horrible tenant, the loss of privacy, but most of all I don't like the sounds that are coming from Albany. With the possibility/probability of a Democratic majority in both House and Senate, as well as a Democratic Governor, there are quite a few in the Democratic Party salivating at the thought of extending rent stabilization by raising the luxury threshold and extending the coverage to all rental units. Quite frankly, if I had a garden unit at the moment, I would not be renewing the tenant's lease until that situation became crystal clear. I don't think that single units in a two family house have ever been regulated and probably won't ever be, but some rent stabilization advocates are quite extreme and would like to extend their reach everywhere. Just a thought.

Posted by: bohuma at October 16, 2008 2:49 PM in response to House of the Day: 132 St. Marks Avenue

A super 99c store! Does that mean the merchandise will be super crappy instead of regular crappy?

Posted by: bohuma at October 16, 2008 2:34 PM in response to Streetlevel: Joe and Joe Pizza Shuts the Ovens

Unfortunately, this could be the ghost of some long dead kitty-pee-a-lot. If there was an unaltered tom cat that resided there in the distant past, the remains of its scent may be ingrained in the floorboards. I have no idea how you'd get rid of it. Try Ask this Old House.

Posted by: bohuma at October 15, 2008 10:12 AM in response to old house smell?

If you plan to move anything up or down the stairs (i.e. furniture, groceries, laundry) you might want to think twice about a spiral/corkscrew staircase. A straight run stair, while taking more room, is much easier if you've got to move anything remotely bulky. Personally, I think stairs are a job for a pro.

Posted by: bohuma at October 14, 2008 5:20 PM in response to Interior stairs

You should check with a real estate attorney, however, it might be in the interests of good neighbor relations to come to an accommodation with your neighbor, especially if you plan to continue to reside in your home for the foreseeable future. If your attorney tells you that you do indeed have to remove the pipe, do it and count yourself fortunate that you weren't made to do it earlier. If your attorney tells you that you do not have to move it, tell your neighbor this, and offer to split the cost of moving the pipe with them, and if they won't agree, don't move the pipe.

Posted by: bohuma at October 14, 2008 11:55 AM in response to Drain Pipe in backyard

Yes, I would consider this, but before making an offer I'd have a structural engineer look at the place to get an estimate of whether repair is possible and at what cost. It may turn out that the only viable option is to demolish the interior and rebuild. That would be expensive, especially if the facade is landmarked. After determining this I would decide if it's worth the trouble and if so an appropriate price. Even if the interior has to be demolished there may well be some fixtures and fittings that could be salvaged for reinstallation.

Posted by: bohuma at October 14, 2008 9:00 AM in response to question for the 'house doctors'

Why don't you investigate the possibility of a bed and breakfast. Hotel rates in NYC are astronomical so a B&B that targets foreign tourists should do well. The advantage of the B&B is that you collect the room rent in advance, and if the guests try anything funny, you can always call USCIS. A B&B is hard work but less risky than an SRO. SROs tend to attract the chemically addicted and chronically underemployed - bad prospects as tenants.

Posted by: bohuma at October 9, 2008 2:20 PM in response to Turning Home to Room Rentals

I have two resident mouse exterminators (aka cats) on permanent and exclusive retainer. A mouse tried entering our apartment this morning, and the cats were right on to it. It must have heard or smelled them, because it decided that any adventure into our apartment might be very short.

Posted by: bohuma at October 9, 2008 10:21 AM in response to Mice have become insufferably cavalier about strolling through my home

I don't know if you were watching the ABC news earlier this week, but the Department of Buildings issued an immediate vacate order to all persons living in a building without a valid residential CO. I would ask your attorney, or go to housing court and ask one of the lawyers who hang out there.

Posted by: bohuma at October 9, 2008 10:17 AM in response to Can you rent in Midst of CO change

My cats keep the mice out and kill any roaches they find. Not sure whether roaches hate cats enough to move out if cats move in. One of the best things you can do is cut off the food supply, make sure all your food is in vermin proof containers, wash your dishes immediately after use and that you get rid of any food trash immediately.

Posted by: bohuma at October 8, 2008 2:04 PM in response to Clean apt recommendation in Prospect Heights/Crown Heights

As you haven't signed a contract yet, you are in a very strong position as you can still walk away. You should definitely try to drive a hard bargain. That said, if you need finance, you might want to double check on that first, banks have certainly tightened up their lending requirements, we won't be seeing any 80/10/10 financing for a long time to come. However, if you have a decent down payment and a secure job, you should be able to find a mortgage, oh and a credit score higher than 740.

Posted by: bohuma at October 8, 2008 2:01 PM in response to cold feet? entering contract-negotiating?

OOPS! That is really tiny writing on that floorplan. Nevertheless, I still think the space would work better as a one bedroom.

Posted by: bohuma at October 7, 2008 3:17 PM in response to Co-ops of the Day: Head-to-Head In The Slope

I'm sorry, but to qualify as a room in NYC a space has to be at least 100 square feet. The "second bedroom" in the President Street coop is 7 x 6 ft, which is either a study or a roomy closet, but not a bedroom. I like brownstones, but I think that we should be encouraging their restoration as single family homes rather than collections of tiny, tiny apartments. The President St co-op would work much better as a one bedroom apartment, with the living room at the front of the apartment, with an open kitchen, then a bathroom and bedroom at the rear. Each main room should be the full width of the building, it is too narrow to do otherwise.

Posted by: bohuma at October 7, 2008 2:16 PM in response to Co-ops of the Day: Head-to-Head In The Slope

Here's my take for what it's worth. You live in a month-to-month rental, that is by definition unstable, and if your landlord needs the apartment for a relative or friend, or thinks s/he can get a better deal by asking you to leave, s/he can do just that. Second, you have a stable job (possibly with the government) so you don't feel like you're going to be unemployed any time soon. Third, you have finance arranged already, undoubtedly at a rate you can afford. Fourth, you will have 20% equity, which is more than a lot of the recent foreclosures have had. Fifth, living in a home that you are buying and will eventually own is so much nicer than living in a rental, no matter how nice the rental. Sixth, a $399,000 co-op will be much easier to sell in a year than a million dollar co-op, the lower end of the market is much easier to take a risk on that the luxury end.

You can afford to buy this property or your mortgagee would not have lent you the money. Real estate should be seen as a seven to ten year investment, I am pretty sure that in seven to ten years, you'll make money on this place.

Ultimately the decision is yours, but seeking advice from your lawyer is always going to be worthwhile. Personally, my husband and I are proceeding with our purchase and can't wait to move into our new condo.

Posted by: bohuma at October 7, 2008 11:48 AM in response to Front Page Forum: Walk Away from Downpayment?

You should talk to your lawyer as What says. My husband and I are buying in Brooklyn too, and we're closing early in November. We wouldn't even consider backing out. We figure that our purchase will significantly improve our living standards with only a moderate increase in housing costs. A real estate investment should be considered a seven to ten year investment at a minimum. Whilst Manhattan coop prices may have tanked in the 1990's, the city is a different place now, crime is lower, which makes it safer, and energy costs are significantly higher, which makes it significantly cheaper to live close to the subway system and in an apartment rather than a house. The attractions of NY will not go away. While we may see some decline in apartment prices in the short term, I don't see any structural changes that make me think that there is going to be another round of middle class flight that would cause prices to tank.

Posted by: bohuma at October 7, 2008 9:17 AM in response to Break contract or not?

I wish I was one of the divorce attorneys, although I would be insisting on progress payments. This divorce has to be a cash cow for the attorneys.

Posted by: bohuma at October 6, 2008 3:08 PM in response to War of the Roses, Borough Park Style

Actually Iris, I did answer Grizzlycat's question, I suggested s/he phone 311. If s/he does that the call center worker will file his complaint with the buildings department who will send out an inspector, and if there is indeed no certificate of occupancy, will proceed as laid out in the law. I also explained what will happen if s/he stops paying rent. No tenant should stop paying rent without seeking legal advice first, and even then the tenant should pay the rent into an escrow account until their dispute with the landlord is settled.

Posted by: bohuma at October 3, 2008 10:27 AM in response to Tenant in building with no C of O

I guess you could call 311 and file a complaint, see what they say. You could stop paying your rent, as long as you don't mind if the landlord reports said failure to pay rent to the credit reporting bureaus, thereby dropping your credit score by few dozen points at least. Your landlord would then begin proceedings against you in housing court for non-payment. After about six months of non-payment, you would be evicted. You would then try to find a new place to rent, unfortunately, because your credit score is now in the crapper and shows non-payment of rent, no decent landlord will rent to you, and when they talk to your current landlord, or search the housing court records, no slumlord will have you either. Hope you enjoy living under a bridge and eating cat food.

Posted by: bohuma at October 2, 2008 2:49 PM in response to Tenant in building with no C of O

I wouldn't recommend bouncing a check, that's a criminal offense and your attorney will likely file a criminal complaint. My experience in other jurisdictions is that the attorneys get their money at closing, and you don't get the keys or clear title until everyone gets paid.

If you feel aggrieved about this when its all over, file a complaint with the Appellate division, the committee that handles Kings, Queens and Richmond counties is:

Grievance Committee for the Second and Eleventh Judicial Districts
Renaissance Plaza
335 Adams Street, Suite 2400
Brooklyn, NY 11201-3745
(718) 923-6300

http://www.nycourts.gov/courts/ad2/attorneymatters_ComplaintAboutaLawyer.shtml

The Real Estate bar is like a club, they all know each other and everything does eventually get done, but it's not at all efficient. The NY Assembly and Senate are chock full of lawyers who don't want to simplify anything because it would be bad for business. I recommend that everyone stop voting in lawyers and start voting in some union leaders, teachers, accountants, nurses, anyone except lawyers.

Posted by: bohuma at October 2, 2008 10:27 AM in response to Real estate lawyer (cont)

I wouldn't get too worried, the vendor's lawyers are probably Jewish too and they'll sort this out after the holidays. When we were doing the contract on our purchase, the real estate broker was pushing us to sign quickly. Our lawyer told us that there is no rush, nobody will back out of a deal for the sake of a few days, especially in a slowing market.

Posted by: bohuma at October 1, 2008 10:27 AM in response to Help -- real estate lawyer problems

If you live in a co-op or condo, or indeed a rental (house, apartment, SRO) you have to accept that your space is not your own. If you want to decorate your door or some other part of the exterior of your property, you really need to buy a single family house somewhere that doesn't have a homeowner's association.

Whilst we all might empathize with a homeowner wanting to display the American flag, I think the board was right to take a strong position. If you allow the US flag, you might end up with all sorts of stuff on the front doors that are protected by free speech.

Posted by: bohuma at October 1, 2008 10:19 AM in response to Does Your Front Door Belong to Everyone in the Co-op?

Your co-op board needs to address this, not an individual shareholder. Your board should consult a plumber or the appropriate engineering specialty. If you do something on your own you may be violating your proprietary lease.

Posted by: bohuma at September 30, 2008 3:54 PM in response to low water pressure in 10 unit coop

From what I have read on the Rex website, a Rex agreement is a long term derivative contract, where you write a contract that enables the purchaser to acquire part of the right to the capital appreciation of your property. Before you sign an agreement of this kind you should obtain independent legal and financial advice so that you know exactly what you are doing. Derivative contracts are very complex and are part of the cause of the current liquidity crisis in the financial services industry. These agreements are probably unregulated, so you need to be especially vigilant in obtaining independent advice from appropriately qualified professionals.

Posted by: bohuma at September 30, 2008 1:53 PM in response to The Rex Agreement

You could try soiled cat litter. If one or more people in the condo have cats, get them to put their soiled cat litter in a bucket in the recycling area. Rats and mice can't stand the smell of cats. See this article from the NY Times: http://www.nytimes.com/2007/12/21/nyregion/21cats.html?_r=1&scp=1&sq=Cat%20bodega&st=cse&oref=slogin

Posted by: bohuma at September 28, 2008 7:41 AM in response to Non-toxic product to keep recycling area vermin free

The one consolation, and a very poor one at that, is that he is going to have to pay significant income tax to the Federal, State and City governments on this little windfall. That is if he is dismissed by JP Morgan Chase. He probably negotiated this package because everyone knew that WaMu was going down the tubes and he was taking a risk leaving his previous job. WaMu's board probably thought that if anyone could save them, it was this guy, hence the bucks.

Posted by: bohuma at September 26, 2008 9:56 AM in response to WaMu Bailout a Bonus Bonanza for Brooklyn Bigwig

I recommend you find a course on the duties and responsibilities of a landlord. Landlord and Tenant law in New York is complex and there are significant penalties for landlords who do not meet their responsibilities. If you have a good relationship with your tenant that's great, you probably won't have any trouble. However, if your tenant is beligerent in nature, or decides to blame you for everything that is going wrong in his/her life, your potential liability is significant. From what I have read, there are a number of things a landlord must do each year, so I would find out exactly what those things are as they relate to you, and make sure you do absolutely everything properly.

Whilst you are required to provide heat at a certain level, you should not exceed that level, i.e. don't heat your tenant's apartment above 68 degrees, that's just wasting money. Make sure your boiler is working properly and that there are properly functioning thermostats in place. There is no point in wasting expensive energy.

Posted by: bohuma at September 26, 2008 9:52 AM in response to Heating

Try using a plastic scraper, or a nylon scotchbrite pad. They won't be hard enough to scratch the steel, but should get rid of the plastic paint. You could also try some paint thinner. If these don't work go to Macy's or Bloomingdales and get some stainless steel cookware cleaner - they're abrasive but should also give a nice polish to the sink.

Posted by: bohuma at September 25, 2008 4:22 PM in response to Removing Paint

Try contacting the Real Estate Board of NY, or check out the advertisements at www.cooperator.com. I'm surprised (even though I shouldn't be) that the sponsor didn't organize something. You need to get on to this very quickly.

Posted by: bohuma at September 25, 2008 4:15 PM in response to Any advice on Setting up a new condo homeowners association?

billyboomer is probably right, but I would rather spend a few shekels getting the inspector back and finding out that it is nothing, than spend hundreds of thousands on a house that has a serious problem that will cost megabux to rectify.

Posted by: bohuma at September 25, 2008 12:30 PM in response to weird smell- closing soon

I would second aktony on delivery by certified mail. Be very careful to maintain a paper trail and do not give a reason for non-renewal. Just state that you are not renewing and that you expect the tenant to vacate on such and such a date, and that you will inspect the property with the tenant on that day and provide a refund of the security deposit at that time. If you want this person gone, don't nickel and dime them on maintenance, just get them out the door and paid off.

Posted by: bohuma at September 24, 2008 2:29 PM in response to Tenant Lease (non-renewal)

If the rats are not already in the basement, allowing the cats access to the basement may prevent the rats moving in. Rats and mice don't like the smell of cat urine/feces so keeping soiled litter down there is a good idea. If the rats have already moved in, don't send the cats down there because rats will put up a fight and will injure your cats. Cats cannot deal with a significant rat infestation, but they can deal with one or two rats, and will prevent an infestation. I think that you should go around your yard and house and try to block as many points of ingress as possible. If you're getting the exterminator, make sure he knows that you have cats, you don't want to poison your pets, or your tenant's pets.

Posted by: bohuma at September 23, 2008 1:10 PM in response to Rats

Congratulations. Owning and living in a house is very different from living in an apartment whether rental, co-op or condo. I think you'll find that within three years your investment will be experiencing modest capital gains, and should be roaring ahead within 5 - 7 years. Just think, you can potter in your own garden, redo your kitchen and bathrooms, finish your basement, and not have to deal with a co-op or condo board. You'll be able to put whatever pictures on the wall you like, without asking your landlord (not that anyone does). The one downside, you'll be the one shovelling the snow in the winter.

Posted by: bohuma at September 23, 2008 1:05 PM in response to Congratulations to me?

Mice absolutely hate the smell of cat urine, so even a kitten is an effective way to get rid of mice. A cat is only an option if your landlord/co-op/condo allow them and no member of your household is allergic to cats. I hae two cats and have never had a problem with mice, rats or pigeons.

Posted by: bohuma at September 23, 2008 9:51 AM in response to exterminator

Unfortunately, with this type of bureaucratic management company, there is only one way to effectively communicate and that is by certified mail. E-mails, phone calls and text messages will be ignored. Management companies tend not to ignore certified mail because it is an essential part of the paper trail for any court action. My advice to anyone contemplating any kind of work in a co-op is to talk to a board member first and find out what the board will and will not approve (this should also be outlined in the building documents), then submit your plans for approval, using certified mail. Keep copies of everything and have them at hand at all times as work progresses. If the management company have a favored contractor, consider getting an estimate from them (don't automatically go with them though - they may be paying off the management company). If the management company attempt to stop approved work, lodge a formal complaint with the board and the real estate board of NY.

Posted by: bohuma at September 23, 2008 9:44 AM in response to co-op harassment

I am actually surprised that a tree as old as this that is part of the streetscape wouldn't have statutory protection. I am also surprised someone else didn't call 311 or indeed 911 whilst the owner was out. I hope that the city fines the temple big time for touching that tree without authorization.

I agree with daveinbedstuy, call 311 for every single violation that affects your quality of life.

You might also consider calling one of those ambulance chasing plaintiff attorneys who advertise on the subway.

Posted by: bohuma at September 19, 2008 10:19 AM in response to Whose Tree Is It, Anyway?

The best way to preserve historic buildings is to buy them. If you want to save something, you need to put your money where your mouth is. Judging from its appearance, this building was once owned by a thriving congregation that either died out or went away. Unless another church group purchases it as a place of worship, it really has no future.

Posted by: bohuma at September 8, 2008 1:54 PM in response to Final Prayers for the Green Church?

Hi,

Not sure if you are still in the process of searching for an architect but I would be happy to discuss your project with you. My office's work focusses mainly on renovations of townhouses, apartments and lofts on a variety of scales and budgets. If interested, please contact me:

mhm@studiolabdesign.com

Thanks,
Matt

Posted by: StudioLAB at December 12, 2008 7:48 PM in response to Preparing for an architect

I have never lived in a full service apartment. If I did I would for sure tip the doorman!

Posted by: emomr at December 26, 2008 6:55 AM in response to Tipping in rental buildings

I agree that the kids would be fine sharing a room for a couple more years, and that we could make some changes to our place that would make better use of some storage. There are a few other factors influencing my desire... we live on the 3rd floor, we would like a yard, have a desire to feel "settled" into a long term living situation, but those aren't "mandatory" reasons to sell.

Gemini10: your place sounds interesting, especially with the rental income so high. can you access the yard being in the upper duplex or is it for the tenants? Curious: if you were to sell your place would you be open to a contingency bid (like we have to sell to close)? I assume it would be your last resort? If you want to talk offline, you can reach me at wjshewmaker @ mac.com

Posted by: wishinone at December 26, 2008 8:45 AM in response to Are we stuck?

well technically you want to sell one place and buy another. So if prices are down - they should be down in both the old and the new place.

Posted by: bobjohn at December 29, 2008 2:10 PM in response to Are we stuck?

I am in a similar situation and was considering telling my tenants that they have had a good deal but as of May 2010, there apartments will increase to market rate. Every month they are paying several hundred less than the going rate because I have been asleep at the wheel. Because they have been getting a good deal, it would be unfair to change things? Obviously if the rental market is bad I would not increase it but at this point that is not the case. At some point around I think 2000, my tenant came to me and said that the market went down since she rented her apartment. She had gone out and looked at similiar apartments which were listed about $150 less per month. At that point she was month to month and she told me in a nice way that she would move without a reduction. I looked around and saw that she was correct and lowered her rent. I don't landlords have any obligation to only raise there rent to cover their costs.

Posted by: carroll2stones at January 8, 2009 11:37 AM in response to Raising the Rent

It's not an "obligation" to only raise rent to cover expenses... but just to flow along with the NYC market is disgusting. The "get whatever you can" is a horrible way to approach any situation -- and a surefire way to create resentment with your tenants (who you're entrusting your single-most major investment to).

Posted by: tybur6 at January 8, 2009 11:49 AM in response to Raising the Rent

why should someone who has been getting a sweet deal on rent for several years have a special entitlement to continued sub-market rent? even if the rents were raised to market today, the tenants are still better off than they would have been with incremental increases, since they deferred paying the extra money for several years.

that said, if i were the landlord here, i would look for a way to split the difference.

Posted by: z at January 8, 2009 11:50 AM in response to Raising the Rent

Also, if you are looking at a % above expenses "profit margin" you're probably going to be below market rate by design, will be making a healthy profit, and you won't have to deal with lowering your rent when the unsustainable housing market has a hiccup.... you'll just magically BE at market rate. Oh, and your tenants may respect you.

Posted by: tybur6 at January 8, 2009 11:52 AM in response to Raising the Rent

I had this problem a few years ago. Except that I had the annoying benefit of having a good reason to get rid of the tenant. So I gave four months notice that the rent was increasing $500 take it or leave it. This increase still made it $500 below market rate. The timing was such that if the tenant decided to leave it would be May which is a good month to find new people. The tenant moved to BK and is probably reading this right now. A new tenant was found in one month at market rate.

Posted by: sally at January 8, 2009 12:03 PM in response to Raising the Rent

That your tenants buy a nice TV or take a vacation is also irrelevant. It is possible that they chose to live in that apartment so that they could afford to buy nice things. It is also likely that they have received salary increases in the time that they have been your tenants. If they have chosen to spend their additional income on themselves rather than volunteer to pay higher rent to you, you can't hold that against them.

As long as they pay you the rent you ask, their income now and what they do with the rest of their money is none of your business. The fact that this is a source of anxiety to you sounds more like jealousy that your own income hasn't increased. Again, not something you can blame on your tenants.

Posted by: lemur11215 at January 8, 2009 12:03 PM in response to Raising the Rent