Buying a property in NYC and renting it out, seem like a great business especially nowadays when so many people flood the New York streets in hopes of building a career. Being a landlord, however, is not as easy as some may think. There are so many rules and regulations that must be met in order to ensure the safety of both tenant and landlord—so much so that it can be intimidating and confusing for individuals or businesses who first assumed that managing a property was easy. The following are some of the many federal laws that New York implements when it comes to property management: [Read more…]
Famously known as “The City That Never Sleeps”, New York City is widely considered as the world’s cultural, commercial, financial, and geopolitical capital, being home to over 2 million small- and medium-scale businesses, head offices of several global institutions, and no less than the headquarters of the United Nations. With a steadily growing population of over 8.4 million, approximately 36% of which is foreign-born, rental residential properties such as condominium spaces and apartment units have proven themselves to be among the city’s hottest commodities.