First time landlord

Hi guys…sorry, was not watching this thread the last couple of days.

REBNY leases are worded much more in favor of the LL.

As others here say, the laws are overwhelmingly in favor of tenants. It cost us over $50k to get rid of our pros in a six/seven month period. I’m certain the process took a couple of years off my life as I had to look the other way while these monsters smirked in delight at what they were doing to us or we were afraid they would claim (yet again in court) of harrassment. It’s certainly not a solution to avoid a rogue tenant, thats what the other checks are for, but we’ve told all of our tenants we’ve had of our experience and subsequent zero-tolerance policy for late rent, excessive noise, trying to Airbnb their place, etc all result in an immediate 30-day notice from us and we’ll go to court immediately.

We price under market, fix things immediately, provide a very nice place to call home so all of our tenants have/do feel lucky to live here and they want to protect their living situation.

If anyone wants a blank REBNY lease to see the difference, post your email and I’ll happily send it.

bedstuytownhouse

in General Discussion 8 years and 8 months ago

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freespirit | 8 years and 9 months ago

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So we are finally renting the 2 unit in our house. We hired a real estate agent for 2 months and she showed the place only once! Now we want to try and list it ourselves. Anyone has words of wisdom? I put in on Zillow but it looks like the listing by the agent is still there and my new one doesn’t come up as “newly posted”. I also noticed that some listings are renewed daily so they are always on top of the page – how do you do that? Finally tips on how to screen people – what documents do you get to verify income and do you run a background check? If so which website do you use? Thanks in advance!

daveinbedstuy | 8 years and 9 months ago

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Advertise it here on brownstoner, in the NY Times online and craigslist. Unles something is wrong with it or it is wildly overpriced, you will get deluged with inquiries. Especially if there is no broker fee.

Arkady | 8 years and 9 months ago

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CL has worked for me.

slopefarm | 8 years and 9 months ago

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Take good pictures. Follow dave and arkady’s advice. Be sure to state clearly — no fee, by owner, in the ad, and that it is an apartment in an owner-occupied house (people who like to make lots of noise tend not to like living under same roof as owner). Have an application form ready. Don’t tell anyone they are the first to see it or to apply. You learn a remarkable amount about how people might be as tenants simply by how they look around the apartment and the questions they ask. If someone wants to apply, sit down with them as they ill it out and just get them talking a bit about why they are moving, why the want the apartment. Your gut is surprisingly reliable about who might be trouble. read up a bit on housing discrimination so you don;t discriminate and don’t unwittingly ask illegal questions.

If you don’t get at least 4-5 inquiries within a day or two in response to a listing with CL, NYT and here, you’ve priced it too high.

Guest User | 8 years and 9 months ago

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Yes, realtors often price apartments too high and then there’s no action. You should also email info to your network of local friends, neighbors, etc. You don’t necessarily want to rent to a friend, but a friend of a friend is fine. No matter who you rent to, do a credit check, get references, etc.

bedstuytownhouse | 8 years and 9 months ago

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I’m late to chime in here but, having been on the receiving end of living through trying to evict some of the most heinous, evil professional tenants that ever lived…who then went on and did the same thing to another couple in the neighborhood…I wouldn’t wish that experience on my worst enemy.

Anyways, this is how we proceed now. We require proof of rental payment for the last 12 months, a credit and L&T court check and we require access to their PREVIOUS landlord, not their current landlord. If they are a headache in their current apartment, their current landlord will tell you any and everything to make their problem, your problem. Lastly, we only offer month-to-month leases now so if you are a problem, you will be given 30 days notice to vacate and that can be actioned in court on the 31st day. And, use a REBNY lease, not a Blumberg lease.

Good luck.

lgwlcvqt | 8 years and 9 months ago

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I also require proof of rent payments for the previous year and talk to the previous landlord

lgwlcvqt | 8 years and 9 months ago

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I also require proof of rent payments for the previous year and talk to the previous landlord

freespirit | 8 years and 9 months ago

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Thank you so much, everyone! Very helpful and I have some research to do!

freespirit | 8 years and 9 months ago

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Question for bedstuytownhouse : how do you do a L&T check? Did a quick Google search and didn’t find anything for landlords. Thanks!

bedstuytownhouse | 8 years and 9 months ago

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https://www.houserie.com/how-it-works

slopegirl | 8 years and 9 months ago

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another Q for bedstuytownhouse: why REBNY lease and not blumberg?

freespirit | 8 years and 9 months ago

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Thanks so much, bedstuytownhouse! May I ask another question? If you are doing a 30-day lease do you do a rental agreement or lease anyways?

slopegirl | 8 years and 9 months ago

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also: to OP, the previous landlord interview is CRUCIAL. We have rented on our own and with a realtor, and from those experiences I much preferred the tenants we found on our own. They tended to be less wealthy and nicer. That said our very favorite tenants came through a realtor and they are just relaxed older couple who presumably used a realtor to make life easier. Others that came to us via realtor I would describe (kindly) as entitled jerks which is tough in a small building. You should realize before anyone moves in that all the laws in New York are written in the tenants favor. All of them. So choose very carefully since this is your home and will be theirs too by rights once they start paying rent. I know of a broker who was sued for ad copy (by someone who said the ad caused them emotional suffering–but the ad was improperly worded, so they settled), so important to understand housing discrimination laws thoroughly before you begin the process.

ftgreenepark | 8 years and 9 months ago

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Tough to say since you haven’t told us the neighborhood or price. There are various ways you can limit your forecasted liability, however using your gut is often the best way. If your apt is a Shangri-La, then you can command lots of steps to verifying the worthiness of a tenant — if not you may scare away good potential tenants (yes tenants have options too). Evictions are not quite as painful as people say — I’ve done one.

Don’t overthink it. Put an ad on Craigslist — drop your price if need be. Size up tenants and go for it. There’s really not that much to it.

Boerumresident | 8 years and 9 months ago

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> @bedstuytownhouse
> And, use a REBNY lease, not a Blumberg lease.

Why REBNY over Blumberg?

Boerumresident | 8 years and 9 months ago

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Sorry — I see slopegirl had the same question. Still we’d like to know

mozeeatupu | 8 years and 9 months ago

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To add to the mix, I use the RSA leases. They have the necessary language for NYC

anotherpsarchitect | 8 years and 9 months ago

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I had a similar experience with brokers, who were not interested in showing an apartment for rent, even a nice one, when they could sell apartments for much more $$$. I thought it would be safer and easier as they would do the checking, etc. They sent the most junior staff, and they were very
unprepared. I am talking about several different agencies, in Park Slope! They couldn’t answer any questions for the respective renters. I ended up reducing the price and printing my own information sheet for prospective tenants. After a few months of this, I advertised on Craigslist (that seems to be the primary tool) and got a lot of interest. I had one set of what I later realized were professional squatters, and had to go to court. It took almost two years. Speaking to the previous previous landlord is excellent advice, as well as 12 months proof of rent paid, etc. For several years now, the new tenants have been referred by the departing ones. I keep the rent a bit below market as I would rather have good tenants who want to stay.