Find a great tenant, or spend a lot of time and frustration solving the problem of a bad renter. Those are your two options. Sure, you might luck out and accidently find a great tenant, but the chances are slim. So take the time upfront (even if it feels like it’s taking too long) to find a tenant who matches you and your property. If you do this correctly, you’ll spend a lot of time on the property before you get a tenant but . . .
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NYC apartments are unique in the real estate universe. Not only do rental apartments in NYC make up 75 percent of the available housing units versus about 5 to 10 percent in other markets, but apartments in NYC have ownership and other important differences that are often puzzling to newcomers. . . .
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As a landlord, there’s really no reason to dread the ring of a phone and the news that there’s a problem. Instead, perform regular safety and maintenance checks, replacing and repairing items that need attention. For repairs beyond your comfort level, keep the number of a trusted handyman or hire a professional for electrical and plumbing repairs. When you keep your rentals in . . .
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While the investment you make in a rental home is nowhere near the huge chunk of money you put down to purchase a home, the chances of losing at least a portion of that money are better. Unscrupulous landlords and everyday accidents may chip away at your security deposit and may even lead to you owing more money when you vacate the home. . . .
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There has been a lot of buzz about multifamily properties recently between agents urging owners to sell while the market is ripe and investment firms promoting them as the best option for more sophisticated investors. Is this a great time to invest in multifamily housing, are income based apartments the best option, and what are the real pros and cons? . . .
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With foreclosure inventories likely to shrink over the upcoming years – or at least level off after the recent historic climb – more and more homebuyers are feeling the urgency to snap up bargain homes and turn them into cash cows by renting them out. It makes perfect sense: Home prices and mortgage rates are at or near the lowest levels in more than a decade. . . .
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Rents across the country are on the rise, shooting up an average of 2.7 percent last year, according to the National Association of Realtors®. Their research also finds that vacancy rates are falling and are now below 5 percent for the first time in over 10 years. That’s the national story. Closer to home, in San Francisco average rent has risen over 15.8 percent from one year ago. . . .
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There was a time when “small spaces” and “garden” were thought to be incompatible terms. Those were the days of Victory Gardens, when most folks in the neighborhood were growing their own vegetables in large backyards. Today, we know better. Even a container can hold a garden and apartment dwellers are no longer left out . . .
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Let’s get this obvious fact out of the way up front: The typical “best” and “worst” lists are subjective. They also vary vastly, according to the criteria used to compile them. For instance, Forbes magazine’s list of the best cities for renters is based on data gleaned from a real estate firm and the criteria includes average rents, annual change in rents, . . .
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It’s a dilemma. One of the few perks of not owning your dwelling is the fact that you’re typically not on a financial hook to maintain the property and make needed repairs. One of the problems with not owning a dwelling in need of maintenance or repair is that you are wholly dependent on someone else to do so. . . .
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