Landlord Guildelines for 2-Family Houses

I was wondering if anyone knew how to find landlord guidelines for 2-family houses; it seems like not all of the nyc rental rules apply. One example is that I was told that if an apartment is rented in a 2 or 3 family house, the landlord doesn’t need to give the tenants interest on their security deposit when they move out. I can’t find documentation of this anywhere. Thanks.

anonymous

in Real Estate - Rentals 13 years and 6 months ago

2

Please log in, in order to post replies!

2 replies

Newest Oldest

daveinbedstuy | 13 years and 6 months ago

string(1) "1"
object(WP_User)#4913 (8) {
  ["data"]=>
  object(stdClass)#4890 (12) {
    ["ID"]=>
    string(4) "3864"
    ["user_login"]=>
    string(13) "daveinbedstuy"
    ["user_pass"]=>
    string(34) "$P$BtJYyObAQmff2MQp.qFP7/kmwU1bBZ1"
    ["user_nicename"]=>
    string(13) "daveinbedstuy"
    ["user_email"]=>
    string(19) "djl135e54@yahoo.com"
    ["user_url"]=>
    string(55) "http://bstoner.wpengine.com/forums/users/daveinbedstuy/"
    ["user_registered"]=>
    string(19) "2017-08-10 14:23:53"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(13) "daveinbedstuy"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(3864)
  ["caps"]=>
  array(2) {
    ["subscriber"]=>
    bool(true)
    ["bbp_participant"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(2) {
    [0]=>
    string(10) "subscriber"
    [1]=>
    string(15) "bbp_participant"
  }
  ["allcaps"]=>
  array(4) {
    ["read"]=>
    bool(true)
    ["level_0"]=>
    bool(true)
    ["subscriber"]=>
    bool(true)
    ["bbp_participant"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

I automatically put it into an interest bearing account at B of A.  i have a 2 family.  In over 3 years, the $2,400 has earned abot $28.00!!!!!

GreenThinker | 13 years and 6 months ago

string(1) "1"
object(WP_User)#4912 (8) {
  ["data"]=>
  object(stdClass)#4911 (12) {
    ["ID"]=>
    string(5) "98498"
    ["user_login"]=>
    string(12) "GreenThinker"
    ["user_pass"]=>
    string(34) "$P$BUyWaQ.9zd8QKKjw0tTw.V/FyEYyLC0"
    ["user_nicename"]=>
    string(12) "greenthinker"
    ["user_email"]=>
    string(23) "Moscicki.adam@gmail.com"
    ["user_url"]=>
    string(23) "/forums/users/greenman/"
    ["user_registered"]=>
    string(19) "2017-08-10 14:19:42"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(12) "GreenThinker"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(98498)
  ["caps"]=>
  array(2) {
    ["subscriber"]=>
    bool(true)
    ["bbp_participant"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(2) {
    [0]=>
    string(10) "subscriber"
    [1]=>
    string(15) "bbp_participant"
  }
  ["allcaps"]=>
  array(4) {
    ["read"]=>
    bool(true)
    ["level_0"]=>
    bool(true)
    ["subscriber"]=>
    bool(true)
    ["bbp_participant"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

“Landlords of buildings with six or more apartments must put all security deposits in New York bank accounts earning interest at the prevailing rate. Each tenant must be informed in writing of the bank’s name and address and the amount of the deposit. Landlords are entitled to collect annual administrative expenses of one percent of the deposit. All other interest earned on the deposits belongs to the tenants. Tenants must be given the option of having this interest paid to them annually, applied to rent, or paid at the end of the lease term. If the building has fewer than six apartments, a landlord who voluntarily places the security deposits in an interest bearing bank account must also follow these rules. For example: A tenant pays a security deposit of $800\. The landlord places the deposit in an interest bearing bank account paying 2.5%. At the end of the year the account will have earned interest of $20.00\. The tenant is entitled to $12.00 and the landlord may retain $8.00, 1% of the deposit, as an administrative fee.”   http://www.housingnyc.com/html/resources/attygenguide.html#6