Manhattan Rentals
- Thread starter trader1
- Start date
Is the moratorium on evictions still in place? In Texas, if a tenant is a day late (maybe I'm exaggerating) the landlord goes in with a marshall to repossess. Savvy NY tenants can drag things out for quite a while. I can see why landlords would be picky these days if they're deprived of their regular, not great, remedies.
It's a conundrum. Everything is shut down. Renters have no or not enough income Renters have a moratorium until December or whatever to pay. Landlords still have to pay taxes, utilities if included in the rent, maintenance costs and mortgage. And the state isn't offering landlords any way to recoop these loses.
Everyone is fucked essentially.
Everyone is fucked essentially.
How many landlords are there and how many tenants are there? And what are the relative consequences (getting foreclosed on and and losing a property vs being homeless in the street). If push comes to shove and it's an army of 500,000 people fighting not to be thrown out in the streets vs an army of 20,000 owners trying to hang on the properties I'm not sure I want to be one of the 20,000. And in NYC with 38,000 total NYPD (and the apparent new NYPD motto "I'm not getting out of my car for that") I don't think they are going to be controlling an insurrection sized mob. They couldn't (or chose not to) stop looting by crowds ?1/100th? that size.
None of that should be construed as me saying "fuck landlords." I've earned a living in Real Estate for almost 40 years. But if you didn't get a clue as to the sea has changed for Real Estate interests in NY State in June of 2019 when the new rent laws went into effect and reverted the balance of power back to tenants for the first time since the flip in 1993, then I think you might be in for a rude awakening. Obviously owners and tenants need relief. But AFAICS Cuomo is just kicking the can down the road because there is no good answer, and the courts themselves have told him "don't try to dump this in our laps because it's too much."
None of that should be construed as me saying "fuck landlords." I've earned a living in Real Estate for almost 40 years. But if you didn't get a clue as to the sea has changed for Real Estate interests in NY State in June of 2019 when the new rent laws went into effect and reverted the balance of power back to tenants for the first time since the flip in 1993, then I think you might be in for a rude awakening. Obviously owners and tenants need relief. But AFAICS Cuomo is just kicking the can down the road because there is no good answer, and the courts themselves have told him "don't try to dump this in our laps because it's too much."
Well schools are closing again tomorrow. So if you have tenants w childrens you might have a problem. They can apply for programs to get help. But grown men sharing an apartment with uber cars in landlords driveway might not fair so well. In the past when I’ve evicted tenants they go live w family. Remember all those nice rooms in the vacant hotels. Small landlords can’t absorb this.
I am currently working with an Agent. Willing to shake hands on a lease, but we’re appx 200-300 apart.His disclosure indicates the landlord is not willing to budge, being he owns 20 other apartments and sacrificing a few more months rent and letting the apartment remain vacant unless he gets his asking price...SMH.. Penny wise and $$ foolish?
Personally I thing uber is the devil. Driving an Escalade whilst earning minimum wage. Silicon Valley figured a way around the rules using PR guys like Bradley Tusk. Taxi service was lacking and the need for better service was there not to mention discrimination. Taxi medallion prices were pushed over a million by guys like Michael Cohen and banks that specialize in financing them. Now all of the poor individual owners that put their home up as collateral for the loans face foreclosure if they can’t make payments on overpriced medallions. As far as renting to Uber drivers most look like they have money but that’s not the case just bought into the bs until autonomous cars put them out of business for good. Enjoy