NY Rent Own Sell

We make sure to make the experience of buying, selling and renting homes easy for our customers.

[nyrentownsell]

A Complete Guide to Rent Assistance Vouchers In NYC

New York City (NYC) is as popular a place for people to stay at as it gets. Work and commitments demand of millions of people the need to stay in the Big Apple. Add to this the fact that buying a house is not a practical and/ or financially feasible choice for a huge section of these people makes the demand for rental apartments soar through the roofs.

This huge gap in residential renting supply and demand leads to astronomical prices for tenants. This is the reason NYC sees legislation revolving around house renting. One major legislation is the rent control act. Keeping that aside, there are many who can spend a little less than the prices asked for the houses. Thus, when it comes to rental apartments in NYC or even the NYC real estate in general, all laws in play need to be known and understood. Today we discuss one such law and how it plays out.

Rent assistance vouchers in NYC are the answer that the state has come up with for this last-mentioned problem. In simple terms, the federal government has come up with a way to fund these people partially. This is done by way of giving them vouchers to cover up the mentioned gap. These rent assistance vouchers work much the same way as any other vouchers. They allow the holder to get a reduced rent rate for the house and as the owner gets paid their due, ideally the system works well.

Let us look at the top three and best-known vouchers in NYC:

NYCHA – With over 200000 tenants living in over 86000 apartments (as of 2017), the Ney York City Housing Authority is the largest giver of the voucher in NYC. However, how high the demand is can be seen from the fact that they have not accepted any applications since 2009 and yet as of 2017 had 15000 plus families waiting to get a voucher. With an individual limit of $33400 or a family (of four) limit of $47700, still, a large number of people meet the qualification limit. It is also important to note that the application needs to be rechecked each year to see if a person/ family with a voucher still needs it.

HPD – The Housing Preservation and Development department at NYC also issue vouchers to people for renting purposes. As last seen (2017), over 39000 households were benefitting from these vouchers. Unlike the NYCHA, the voucher here is issued not on direct application but rather on reference from other programs such as the Emergency Housing Services or the like. These vouchers are thus not open to the general public. Not only the reference but also the earning is taken into account. The rule here is that the income of the family must be less than 50% of the median income of the region for a family to qualify.

DHCR – The Division of Housing and Community Renewal is a state agency that issues such as vouchers. At the moment it is not accepting new applications much for the same reason as the NYCHA. The one unique aspect of this program is that for someone who has held a voucher for more than a year and has never been a house owner in the past, they may apply to HUD to help them purchase the house. With some compulsory educative sessions on house ownership held by mortgage providers, DCHR actually helps the tenants turn into owners.

Who qualifies and why?

Section 8, the program that allows for these vouchers has set a maximum limit when it comes to the income of the persons looking to get a voucher. With most New Yorkers spending 30 per cent of more of their income on rent, everyone would look to get these vouchers. While each program sets its own limits or mimics those of the biggest ones, the general principle in play is simple. The couches are for those who require funding to find basic living spaces for themselves due to their low earning compared to rents. While the vouchers are mostly portable allowing the recover choice of home, they are still limited by the amount of the voucher and the general rents.

Discrimination

While the law on the matter is crystal clear that the owners cannot refuse to honor the voucher of any holder for any reason based on personal bias, discrimination in this system is sadly high. The system works to curb this when reported but that does not happen always. Strict punishments for the defaulters of the non-discrimination law are needed to curb this malpractice.

Anyone who is discriminated against must inform the issuer of the voucher as well as the federal/ local authorities of the same. That way, the system can actually help the people it is meant to help.

With the future of funding for housing programs hanging in the balance due to a seeming change in administration at a national level, it is to be seen whether the situation improves or worsens for the providers and receivers of the voucher. The spokesperson of the various programs has been seen to be cautiously optimistic in the last few days it seems. They do so rely on the statements of the now declared winning party in the first half of this year that renting assistance will be boosted rather than curtailed going forward. If this were to intact happen, we may see more families benefiting from the programs above and some smaller ones as well.

[nyrentownsell]

125 Apartments for-rent in brooklyn, New York. Use quick filters to choose the apartments as per the price, neighborhood etc. Find your perfect home in New York, NY

In areas like Brooklyn, Manhattan, and Queens in New York, thousands of affordable rental apartments are available. You can easily get all the information about the apartment, amenities, and images at NY Rent Own Sell.

[nyrentownsell]

Rent Stabilized and Rent Controlled Apartments in NYC: Everything You Wanted to Know About

Are you looking for an affordable rental apartment in NYC?

You must have come across the apartments labeled as “rent stabilized” and “rent-controlled”.

Do you know what these terms mean?

If you have never heard of a “rent-controlled” or “rent stabilized” apartment ever before, don’t worry.  

Here we will explain to you everything about rent-controlled apartments in NYC so that you can take an informed decision. Above all, we will tell you how to find the right one.  

Let’s get started.  

What are Rent Controlled and Rent Stabilized Apartments?

Rent-controlled and rent-stabilized apartments were created to protect the tenants from intolerable rents imposed by their landlords. It was started in the 1940s when President Franklin D. Roosevelt enforced the Emergency Price Control Act to prevent landlords from raising rents inappropriately.  

Rent-controlled and rent stabilization are two forms of rent regulation in New York State. Rent control is the oldest form that was meant for the buildings built before 1947. However, there are as few as 22,000 rent-controlled units across NYC.  

Over the decades, however, rent-control regulations have been modified. The law was governed by the state and local government, rather than the federal government. In the New York state, the rent stabilization program is overseen by the NYC Rent Guidelines Board.  

However, rent regulation is still advocated to ensure affordable accommodation to the tenants.  

Rent-regulated apartments should not be confused with other forms of affordable housing such as housing lotteries. This is because the tenants who live there are not bound to income restrictions, such as area median income, or household size requirements. Any renter who can find a rent-controlled space can rent one.  

Rent control, theoretically, ensure minor price hikes to the renters over the years. Even the rent-controlled apartments’ rent is dramatically lower in the lavish real estate neighborhoods in NYC.  

When the tenant moves out after living since July 1, 1971, the property becomes rent stabilized if there are more than six units in a building.

Other things to know about rent-controlled units in NYC are...

Rent can be raised to 7.5% every two years

The rent can’t go past the maximum base rent.

Rent controlled units can be transferred to a family member by the renter if they die or the family member had been living in the apartment for two years.  

Talking about rent stabilization, they are a common way for renters to get below-market rent property.

Nearly 50 percent of rental units in NYC are rent-stabilized compared to those 1 percent rent controlled units. Rent stabilization is generally meant for the apartments with six or more units built before 1974. A rent stabilization unit’s landlord can only raise the rent by the percentage set by the Rent Guidelines Board. The rent won’t be charged based on your income, the size of the apartment, how many people occupy the space, or other factors.  

Rent Increases in Rent Controlled Units

Every rent-controlled unit in NYC comes with a maximum base rent that is likely to increase every two years. The maximum amount a landlord can increase on the rent-controlled unit is the five-year average of the most recent state-sanctioned rent suggested by the Rent Guidelines Board.

To increase the rent, a landlord is required to prove that the property is abiding by all laws and all facilities are providing to the tenants.  

Why Prefer Rent Stabilized Over Rent Controlled Apartment

Both rents controlled apartment and rent-stabilized apartments are meant to save you on the rent. However, many people still prefer to rent-stabilized apartments over the rent-controlled apartment.

First of all, rent-stabilized apartments are much more common and easily accessible than rent-controlled spaces.  

Advantages of Rent-Stabilized Apartments in NYC

Besides being affordable, rent-stabilized apartments come with several advantages such as:

Updates and Improvements:

A tenant has the right to ask for an updated apartment. They can complain to the landlord who doesn’t make proper updates to the rented space.

Easy Subletting:

Renters of rent-stabilized apartments can sublet their apartments.  

Lease Renewal:

The lease can be renewed every year or every two years.

Read Also: 5 Easy Ways to Break your NYC Apartment Lease Without Consequences

How to Find Rent Stabilized Units in NYC

There are many rent-stabilized apartments in NYC. However, it is quite challenging to find the right one.  

These tips can help you.

Explore it Over the New York City Rent Guidelines Board Website:

The NYC rent guidelines board website can help you find rent-stabilized units in your area. It can be usually categorized by the ZIP code.  

Look for a Particular Neighborhood:

Although rent-stabilized apartments can be found across NYC, some areas have more than others, such as Crown Heights, Inwood, and Washington Heights.  

Look for the Buildings Made Between 1947 and 1974:

Rent-stabilized are those buildings that were built after 1974.  

Check the Price:

A rent-stabilized property generally costs $2,500 or less per month. Also, search by bedroom count.  

Screen the Landlord and Confirm the Length of the Lease:

Once you find a rent-stabilized apartment, make sure to screen the landlord before signing a lease. Besides, the lease should explain clearly that the apartment is rent-stabilized and that it provides for at least a year or two leases.

[nyrentownsell]

What to Include in a Roommate Agreement

Living with roommates is common for many people in NYC and sometimes a necessity if you live in expensive neighborhoods like Manhattan. The common reason to live with a roommate is to split the cost of the monthly rent.  

In New York City, you generally don’t need the landlord’s approval to have a roommate. There is also no hassle to add them to the lease. Thanks to the presence of the “Roommate Law” in New York State. The Roommate Law covers relatives as well as boyfriend/girlfriend.  

However, it is recommended to have a roommate agreement in place, especially if you are the only leaseholder. Roommate agreement clearly explains who pays what as wells as the other rules of the space. This way, a roommate gets aware of his or her financial obligation each month, such as utilities and rent, as well as other duties, such as cleaning. If there is ever a dispute takes place between the two tenants, a roommate agreement can be used as proof that who agreed to do certain obligation.  

Here we will discuss the things a rent agreement should include. But first of all, here is a quick definition of a roommate agreement. 

WHAT IS A ROOMMATE AGREEMENT? 

It is a contract signed between you and your roommate agreeing on a certain obligation like the split of rent and household duties. 

Keep in mind that a roommate rental agreement is not a legal contract. For example, a judge wouldn’t order your roommate to cook the food as included in the agreement. Judges, however, imposes promises regarding financial concerns, such as paying utility bills and splitting the rent.  

What to Include in Your Roommate Agreement 

The Price of Rent: 

First of all, how you and your roommate will pay rent. How much will you agree to pay? Will you split the rent evenly between everyone, or will your bedroom size or other considerations determine the rent? 

Whatever you decide, make sure to put it in writing.  

Splitting the Utility Bills: 

Also, divide the utility bills. This might be challenging as bills are generally issued in one person’s name. You need to determine what shared bills will be required to pay and how they will be split. Find out how electricity, the internet, heat, and other utility will be paid for. Make sure to include a payment date.  

Moving Out Early: 

You might need to move out early. If you have a roommate, make sure to include these points in your agreement beforehand.  

When to give notice to your housemate?

Does it require finding a new roommate before moving out?

When will the security deposit be released?

Security Deposit: 

If the lease is over and everyone is looking to move out, handling the security deposit can be challenging if the landlord doesn’t return some or half of it.  

Read Also:  How to Split Rent Between Roommates- Useful Tips

For instance, what if your roommate is found liable for damaging the windows or other apartment’s belonging.  

Therefore, the roommate agreement should include such events, as it takes place, so you can keep a record when moving out. Also, take photos or videos of the damages.  

Roommate with Pets: 

No matter if you or your roommate has a pet, make sure to include it in the agreement. You never know when you feel the need of keeping a pet. If pets are allowed by a landlord, make sure to determine who is responsible for pet fees. It should be mentioned in the contract.  

Put Everyone Schedules on Paper: 

Do you get ready for to office every morning at 9 a.m. and like to play loud music while doing this? Maybe your roommate has night shifts and likely to sleep until 3 p.m. 

Make sure to define everyone’s schedules on paper and bill them up in the kitchen or refrigerator. 

What about Guests? 

Bringing an extra roommate as a boyfriend or a girlfriend can be an unpleasant surprise for another room partner. The same thing can be said for friends or guests. If you don’t want to return home only to find a couple of your roommate’s friends, make sure to clarify how they can come and stay over.  

Create Responsibilities for Chores and Cleaning: 

One of the top concerns about living with housemates is not taking responsibilities like cleaning. The kitchen and bathroom are two shared spaces that generally require cleaning very often. Mention in the agreement that who will clean what.  

Food Sharing: 

How will the food, cooking responsibilities, and grocery shopping be shared? Will the cost be spilled? Will each person have separate areas to store food in the fridge and kitchen? 

Outline such responsibilities in the roommate agreement.  

Bottom Line: 

So these are important things you should outline in your roommate agreement. A clearly defined agreement will be useful in case you experience conflicts with your roommate. This agreement will help guide the rules and expectations for every partner in the room. 

[nyrentownsell]

Why Rent to Own Homes are Trending in NYC and how to find them?

Landlords and real estate companies are coming up with appealing offers to bring some activity back in the market. Let us get to know about it in detail.

[nyrentownsell]

Are you looking for some of the most sorted after a hunted place in NYC? Well. Brace yourself up for a scary ride because NYC has no parallel when it comes to hunted places. You might be able to visit some of these places while others are private and you would not be allowed in.

[nyrentownsell]

5 Easy Moving Day Hacks - NY Rent Own Sell

Apartment hunting is the most difficult and challenging part of moving to a new city. Kudos! For finally getting over the problematic phase. It is everyone's dream to find a place of their own and settle in their home. This brings us to the exciting moving day, which seems fun and overwhelming. However, there is something that can always go wrong. Something gets misplaced, forgotten, unpacked, etc. Along with that, there are many challenges that keep creating obstacles and hindrances while you are moving.

There are numerous things you should be careful about. For instance, you must be aware of the area of the hallways, stairs, doorways, and corners of the apartment building you are moving to. Along with that, you need to keep up with all the necessary checklist that is a must while moving. Don't worry we have got you covered.  

It would be best if you kept in mind the following tips for your moving day.

1.    When to Start Planning

You are highly mistaken if you think one week is enough to gather and pack your things before moving. There are so many things to do. Always start gathering supplies and collecting and organizing your things four weeks prior to moving. You would be needing packing tape, basic tools like hammer and screwdriver, marker, packing materials like bubble wrap and paper. While you are gathering supplies, make sure you measure all your furniture just so they are able to pass through all the nooks and corners of your new apartment building. Don’t forget to change the address with the USPS.

2.    Finding and Gathering boxes

This, although, seems easy, would turn costly if you choose to purchase the boxes. Go for specialty boxes for delicate items. Contact your local wholesale stores, grocery stores, and retailers for extra unused boxes and other things. Please keep track of their delivery days; you might be able to get the fresh boxes. Use plastic cans and bins to store some of your items in case you run out of cardboard boxes. They are a lot sturdier and more convenient. Also, these can be turned into storage cases in your new apartment. If you do not like the mess, the boxes make after you are done unpacking, purchase the boxes from your packers and movers. They will clear the area and leave the space spick and span.

Read Also:  Checklist for Moving out of Rental Apartment in NYC

3.    Packing Boxes 

Gather all your supplies and some resealable plastic bags to store small item.     

Always begin with packing the unbreakable, durable items. You could even use them to layer the bottom area of the box to add a protective layer to the fragile items. For instance, you could stack a layer of kitchen linen and towels before packing the glassware.

Make sure the fragile crockery and glassware are wrapped with some bubble wrap or old newspapers.

Keep aside the small boxes for heavy items like silverware and books.

Keep in mind not to overpack the boxes. You do not have to fill every space you find in the box.

While you are at it, pack your box one room at a time. This will make things a lot easier for you.

Stay organized and label each box and keep a note of which box contains what. For instance, box number 1 could contain decorative items and collectibles.

4.    What to carry, keep, and toss

Everything does not have to be packed. Some essentials need to be carried along; some need to be stored, and others need to be tossed in the garbage. Remember, this is the perfect time to declutter. 

WHAT TO CARRY

Medications

Valuables

Important Documents

Toilet paper and Paper towels

Soap, antiseptic, and antibacterial solutions

Houseplants

Kid’s blanket, diapers, and snacks

Chargers and other gadget accessories.

WHAT TO KEEP OR TOSS

Depending on the following questions (that you ask yourself), toss or keep the items.

Do I like the item?

Would this item ever be of any use in the new apartment?

Am I keeping it only because it has been passed on from my ancestors?

If the item would have been free, would it matter to me?

Would I long for that item later? 

5.    Moving day

If shifting involves narrow corners, hallways, doorways, and stairs, things can get slightly challenging for you. This means you will require the assistance of some people while you move. Ask them before-hand. In case your friends and family are not available, hire a moving company. You can't do it all on your own. It would get noisy and tricky. It would also disturb the neighbors. In case the new apartment building has an elevator, rent a hand truck from a hardware store to conveniently shift your items.

Moving as exciting as it is, it is challenging and exhausting. Make sure you get enough rest before moving day. Also, stay hydrated and, more importantly, stay organized; it will lessen the burden and make everything easy for you.

[nyrentownsell]

Essential Cleaning Supplies Checklist for your Apartment

Cleaning is an important job in our lifestyle. We have prepared a complete checklist to assist you in your cleaning mission.

[nyrentownsell]

Do you know What is the Best Time to Rent an Apartment in NYC? - NY Rent Own Sell

Timing is one of the major contributing factors in all of our life’s decisions. It applies to your decision as to when to rent an apartment as well. You need to learn a few aspects as when the market is behaving down and when most tenants are moving out. However, no matter how meticulously you […]

[nyrentownsell]

5 Tips for Renting an Apartment in NYC as a Student

September is here, the start of a new academic year. By now, you (and your roommate) should have found a new rental apartment. However…

[nyrentownsell]

It can be a lucrative venture for many reasons. And the key of them is to ask for getting higher rent. You need to keep the property in top condition as well as set the attractive rental prices. The last thing to worry about is what kind of tenant is moving in. Based on this, here’s how you can safely and successfully rent out your furnished apartment in NYC.

[nyrentownsell]

The 10 Most Adorable no Fee Doorman Buildings in NYC

When you dream to live in NYC, you have certain expectations from the city. Here is the list of most adorable no fee doorman buildings in NYC.

[nyrentownsell]

Renters' Priorities of Apartment Amenities in NYC After COVID-19

New York renters priorities for apartment amenities are changing and COVID-19 has made them review their traditional hierarchy of amenities.

Life was moving swiftly along with the established patterns. People were having time of their life until the pandemic knocked at their doors. With the baggage of disturbed social norms, NY citizens have been spending a greater deal of time at home. And it’s daunting to adjust with the old amenities anymore. They have been revising their list of NYC apartment amenities they want in there next place.

[nyrentownsell]

Tips on How to Find Perfect Rental Apartment Online in NYC

Here is a complete guide we compiled of how to find rental apartments online so that online apartment hunting will be made easy for you.

[nyrentownsell]

Tips to Find Roommate During Covid-19 Situation - NY Rent Own Sell

Despite the global pandemic people still need to find roommates and here are useful tips to effectively find roommate during Covid-19 situation.

[nyrentownsell]

Top 7 Common Property Listing Mistakes that Home Owners Make

Here are the top 7 mistakes homeowners commonly make when listing their homes and here is how you can avoid them effectively.

[nyrentownsell]

How to Find The Best Convertible Space in the Financial District

Looking for flex or convertible apartment? Here you will find the best convertible space in the financial district easily.