Need Encouragement please

[Karmina Luna-Dominguez]

Hello, Rookie here! And I just booked my first deal!! Closing late Oct in Rochester NY! Pretty excited! I got a 4 Unit Complex with long term tenant who seems to be current. But need some encouragement because I’ve been reading up on tenant laws in NY and listening to podcasts that are starting to scare me. If a tenant is late, they have up to 14 days to pay, however if they hold up in court for a valid reason, they have another 14 days, that’s almost a month. Which means they’re almost due for the next months rent. Does that mean they have to pay the double rent they missed from the previous month, or did they just a get free months worth of rent? What are causes where a tenant can end up living in your rental for free for a year? Also can a seller hide the fact the tenants can be squatters in the property? Sorry now I’m being pessimistic with all the things I’m hearing.

Did I do the right move investing in NY? What are the benefits in investing here? Any good stories?

[Larry Turowski]

@Karmina Luna-Dominguez I invest in Rochester NY. I can, indeed, be a tough place to be a landlord, but you can be successful. First, try not to get emotional. It doesn't help. It is just business. Most tenants are good.

Yes, it can take months to evict a tenant for non-payment. First, you will need to issue a 14-day pay or quit (leave) notice. If they don't pay you can take them to court. That may take two months. Once in court they can come up with some excuse and eviction stayed for a month or so.  Then they are served a warrant by the sheriff, and have another 14 days before they are finally forcibly removed if they haven't already left.  So, all-in-all, you can figure 4 months, plus a few hundred dollars in expenses. I recommend having an atty handle it all for you.