Blog Posts
In the News: Condo Owners Can Remain Anonymous After All
A few weeks ago the Long Island real estate market went into an uproar over a new law which required LLCs to disclose the names and addresses of everyone involved in owning a property, including condos. A few days ago, the State Tax Department reversed its stance, excluding condos from the reporting requirement. Instead, the…
Read More5 Ways to Minimize Liability at Your Long Island Rental Property
Becoming a landlord can be lucrative, but a single lawsuit could wipe out all your profits and put you out of business for good. This is true even if you have a great insurance policy. The damages on any one claim can vastly outstrip your coverage limits. Landlords who don’t take the appropriate steps to…
Read MoreTips for Long Island Co-Owners
There are a lot of reasons why people become the co-owners of a property, including inheritance. And when everyone wants the same thing, co-ownership runs as smoothly as any other kind of ownership. But when someone wants out, things can get messy. Which means no matter why you’ve become a co-owner, it pays to be…
Read MoreIn The News: Landlords Challenge Constitutionality of Rent Control
Spurred by recent changes in New York state law that offer tenants an unprecedented level of protection from rent hikes and destabilization efforts, some landlords have launched a lawsuit they hope will go all the way to the Supreme Court. Battles over the law and its effects have been divisive. Landlords feel it has dismantled…
Read More5 Smart Things to Do If You Inherit Property on Long Island
Inheriting a property is often a bittersweet proposition for more than one reason. The most obvious is that you’ve lost a loved one. The less obvious reason is that while inheriting property can represent a windfall, it also adds a lot of complications you may not have been prepared to deal with. It’s important to…
Read MoreIn The News: Housing Stability and Tenant Protection Act of 2019 Signed Into Law
On June 14 of this year, Governor Cuomo signed the Housing Stability and Tenant Protection Act of 2019 into law. This bill creates big changes for landlords and new protections for tenants. It even creates protections for those who live in mobile home parks. Here’s what the law does. Ends Big Rent Increases in Regulated…
Read MoreWhat Are The Differences Between a Co-op and a Condo?
Here in Long Island many people have the option of either purchasing a condominium or getting involved with a co-op. When you’re trying to decide how you’re going to spend your real estate money it’s vital for you to know the difference between the two. Each type of property comes with its own expenses and…
Read MoreShould You Include a Marijuana Clause in Your Long Island Residential Lease?
In New York, there’s a lot of confusion about marijuana laws. There is a big push to legalize, and possessing less than 25 grams has been decriminalized. The public’s sentiment has shifted. For many, marijuana is no big deal. Medical marijuana is legal, with restrictions, in New York. Pot is still illegal at the federal…
Read MoreWhat Landlords Need to Know About Subleasing
Subleasing is a sticky subject with many landlords. It can feel like a risk. You go through all the work of vetting a tenant, only for some third party to get involved. But residential landlords on Long Island can’t deny tenants the right to sublet. At least, not if you have more than four units.…
Read MoreWhat to Do If Your Long Island Landlord Won’t Make Necessary Repairs
It’s an age-old problem between landlords and tenants. Something breaks. The tenant tries to get it fixed. The landlord takes his or her sweet time about it. But what can you actually do when this problem arises? You have rights, but actually getting the problem fixed isn’t necessarily straightforward. Know what falls under the “Warranty…
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