Apartments for Low Income

Questions and Answers

Your Questions About Renting An Apartment In Nyc

August 22, 2013

Nancy asks…

What is it like renting a small apartment building in NYC?

Please explain in detail.
I want to buy an apartment building & rent it out to others.

Administrator answers:

You do not want to be a landlord in nyc. If the tennants dont destroy the place or call bld inspecter on you every day they will sue you insurance if they break a fingernail and much worse do something else purchase a house within a tiny commute from nyc perfect for a yuppie a house can bring maybe 2,000.$ a month 1 tennant alot easier on yourself better quality tennant ex queens,nassau

Paul asks…

has anyone rented an apartment on daily basis in NYC?

my gf and I are going to NYC and came across adds for apartments that can be rented on daily basis. The prices are very affordable but we’re a little weary of jumping into renting one without knowing for sure if these people are ligit. Has anybody out there ever went through one of these accomadations??

Administrator answers:

Maybe people do this. There are certain regulations about how much they are allowed to charge, and some leases may prohibit it, but it’s done all the time. If it’s not a totally by-the-book situation, it’s the owner or person who holds the lease who would be penalized, not you. There are also agencies you can go thru that presumably weed out weird situations. Here’s a page about it on about.com: http://gonyc.about.com/od/hotels/a/apartment_rent.htm

Sandy asks…

Can a rental apartment in NYC be represented by more than one broker?

My girlfriend and I are using a broker, and have found a really nice place.
However, although we applied, and have perfect credit etc, the broker appears to be dragging his feet.
He says we pretty much have it but has just stopped short of saying itis a done deal.
It has been five days and no lease has been signed, so the apartment is stil for rent.
I am worried that another broker will get the apartment rented to someone else and we will lose it.

Administrator answers:

It’s not yours until you sign a lease & give them a deposit.

Ken asks…

i try to find anyone with experience renting an apartment through the NO FEE managements websites…?

www.managementrentnow.com This look like a good source to find an affordable apartment in any area in NYC…one fee for a direct contact with the landlord or management . Sounds great , but any one actually got any apt…through service like this?

Administrator answers:

They get their fee from the property owner. Normally they get the security deposit (or one months rent).

Just look on craigslist. You’ll find better (independent owned, not corporate ran) places.

Helen asks…

I currently rent an apartment in a brownstone in NY. The owner has to give up the building. What are my rights?

I have been renting this apartment in NYC for 2 years located in a Brownstone. The “landlord” didnt pay his taxes so now the building has to be given up. He is saying he doesnt know when (maybe the end of the year) but my lease is up in May so im thinking should I stay until the end? I was told I should be bought out but can someone just tell me what is usually the outcome for a situation such as this? Any answers would be appreciated. Thank You.

Administrator answers:

Sounds like a foreclosure action. As I understand it from researching, when taxes aren’t paid, the property goes into foreclosure.

If that’s the case, then you are protected under Obama’s 2009 law protecting tenants in foreclosure situations. If the new buyer wants to move into your apartment, they have to give you 90 days notice. Otherwise, you can stay until your lease is up. By then, you should know who your new landlord would be and if you want to sign a new lease or stay on as month-to-month.

Here’s the law:

http://www.nolo.com/legal-encyclopedia/renters-foreclosure-what-are-their-30064.html

Not sure if you are in NYC or another part of New York. You can google “legal aid” and your area of NY to find cheap/free legal help.

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