Comments on: The Madness of Taxes and Tenants

By: Dresden

Dresden — Sun, 16 Mar 2008 02:18:36 +0000

So we’re totally screwed? I know a great lawyer…

Adam Leitman Bailey.

He never loses.

By: derwood

derwood — Sun, 16 Mar 2008 01:00:56 +0000

dresden did u see what bloomberg just passed regarding tenant law.u make it rain you are going to court..

By: Dresden

Dresden — Sat, 15 Mar 2008 23:07:54 +0000

Derwood – it’s neither here nor there, however I’d point out how much my tenant makes. Also, if it ever gets really ugly, you’re allowed to do whatever you want with your real estate…. like make it rain inside.

By: derwood

derwood — Fri, 14 Mar 2008 01:09:25 +0000

dresden you are out of your mind..you will not get a penny from a nyc judge.out of your mind..

By: Dresden

Dresden — Fri, 14 Mar 2008 01:03:57 +0000

The late penalty thing is pretty standard form – and it’s not really a scare tactic. It would hold up in court to some extent, forcing some kind of penalty… if you have them on the books for $25 per day late, the judge will laugh it off. If it’s $1000, the judge should consider the loss you’ve incurred for legal fees and the present value of money. Granted, you won’t get the $1000, but you’ll get something.

By: Plum

Plum — Thu, 13 Mar 2008 00:05:40 +0000

Heeeeeeeeeey!!!! Im 30 and my apartment is immaculate and I pay my rent before it’s due! BUT… i am guilty of the garbage lid thing… LOL! I know the rats will come if the garbage is exposed but i’m MORE freaked out because as I’m putting the bag IN the garbage i think a rat is going to jump out at me. I ususally try and get the lid all the way down but then my imagineation starts clicking and I usually only get it half way. In my defense though I try instead to take the garbage out in the AM when the garbage trucks are on the block and I can just leave it at the curb or hand it to the garbageman.

By: Daniel Born

Daniel Born — Sun, 09 Mar 2008 17:05:53 +0000

you’re just new to this game man. you’ll get the hang of it. def. get one month’s security, first month’s rent (in cash or cash equiv) and last month’s rent. I’ve been doing a 4 apt building for about 6 years and i did stupid crap at first also. and the $1000 late fee is not tenable, whoever said that. They could pay you nothing on that and there is nothing you could do about it, but of course, they may not know that and it may be enough to scare them into paying on time. U go to court w/ that tho and the judge is going to laugh in your face. i collect all rent through paypal also.. no bounced checks, lets the tenants pay by credit card, and easy to manage. unfortunately they take a 3% cut of the cash but it’s worth it to me. never have late rent b/c they can alway put it on daddy’s card. lol. for trash and stuff, i mean that’s just being a landlord. get their e-mails and blow em up every time they do it, and/or institute a fine. they’ll get it after that. anyway, i haven’t lived in my place for about a year and it’s managing itself quite nicely. when you’re not around, it’s amazing how many fewer problems there area. So just don’t make yourself so available to them. if the light bulb needs to be changed they need to figure out that they need to do it. the only time i did it was if i had some really cute chics staying in the place. but i would’ve changed that bulb even if i didn’t own the building so whatever.. anyway good luck. it’s the best situation going in nyc right now, so don’t doubt yourself. it’s been nothing but good to me in the long run.

By: FormerRidgewoodite

FormerRidgewoodite — Sun, 09 Mar 2008 00:57:58 +0000

Dresden, that sounds all well and good, but none of those things are allowed with rent stabilized apartments. The system is SO swayed towards the tenant side that it’s almost ridiculous.

With Rent Stabilization:
-You don’t have the option of offering only a 6 month lease. It can be no shorter than 1 year, and if they request a 2 year lease you MUST give it to them.
-You are not allowed to take more than ONE month security.
-You are not allowed to charge more than $25 for a late fee.

By: Cate

Cate — Sat, 08 Mar 2008 07:38:00 +0000

Being on the ‘other side’ of this sucks too.

My partner and I are looking for a new place in Bushwick, because our current landlord wants to spend the next year renovating the building.

It’s like, “Everyone! Out of the pool!!”

Idiots like your previous tenants are so common that the rest of us are forced to jump through hoops to ‘prove ourselves’. I’m surprised the landlords do not give all potential renters clubs and a pen, throw a lease in the middle of the street, and let us fight it out for their amusement.

By: Dresden

Dresden — Sat, 08 Mar 2008 02:55:32 +0000

I charge $1000 a day past the fifth. And if they have crap credit, two months cash security.

I also keep them on 6 month leases until I know them.

Trust is earned.