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All Forum Posts by: Michael G.

Michael G. has started 15 posts and replied 212 times.

Post: Illegal immigrant tenants and lease termination

Michael G.Posted
  • Rental Property Investor
  • Brooklyn, NY
  • Posts 272
  • Votes 165

Wait - Why did you send them a termination letter? If they were/are good tenants and are paying the rent reliably, why not keep them, regardless of their immigration status?

Post: Taking a loan via Patch of land?

Michael G.Posted
  • Rental Property Investor
  • Brooklyn, NY
  • Posts 272
  • Votes 165

@Simon Savard

Ive personally had good experiences with them, but can give you more info in a DM if you want, lest I be accused of any shilling or untoward behavior

Post: Anyone use Do Hard Money or Patch of Land?

Michael G.Posted
  • Rental Property Investor
  • Brooklyn, NY
  • Posts 272
  • Votes 165

@Jamar Lockwood

Ive personally had good experiences with them, but can give you more info in a DM if you want, lest I be accused of any shilling or untoward behavior

Post: I DECLARE: No Landlords should pay for their Tenants' Water !

Michael G.Posted
  • Rental Property Investor
  • Brooklyn, NY
  • Posts 272
  • Votes 165

@Cliff H.

For our units, ALL units have dishwashers, so that specifically, is a moot point.

We RUBS bill based on occupants, so it's more about how many people are using the water in the kitchen/bathrooms rather than how many bathrooms they have.

On the issue of Washer/Dryer, in instances where one unit has a W/D (vs others that do not), we warn that unit that we will bill them as though there were an extra person living in their Apt.  We ran the math, and with approx 10 occupants per building, this more than offsets any increased water-usage owing the W/D.  In this way, it's fairer to the other units who don't have a W/D in that their Water/Sewer bill either stays the same or decreases, even though the overall building's water use is higher than it would otherwise be without the washer. 

Post: I DECLARE: No Landlords should pay for their Tenants' Water !

Michael G.Posted
  • Rental Property Investor
  • Brooklyn, NY
  • Posts 272
  • Votes 165

@Willow Zen    Wow! I am in shock that you had nice building where your water/Sewer bill effectively was $0 b/c all the units already had their own water-meters, and you decided to remove  them.... (!)  ??  Respectfully, may I ask what your logic in doing so at the time was? (Genuinely interested... Was it that you were having trouble quality finding renters due to the meters?)

And now, you've effectievly 180'd and re-installed all of the meters back-in again?  Is this right?

Post: Deciding to self manage

Michael G.Posted
  • Rental Property Investor
  • Brooklyn, NY
  • Posts 272
  • Votes 165

@Mark Ainley

Hi Mark - I just DM'd you ... Re: Self Management tools... Would love to compare notes too!  Thanks!

Post: patch of land

Michael G.Posted
  • Rental Property Investor
  • Brooklyn, NY
  • Posts 272
  • Votes 165

@Davy Jay

People here are likely reticent about their opinions lest they be cynically accused - baselessly - of "shilling" or plugging a company...(I've seen it - it aint pretty)  If you DM me, i'll gladly share my opinions with you about this company & others as I've used them quite a bit and have become quite familiar with the terrain    

Post: Congratulations! You Gentrify: Displacing a Community

Michael G.Posted
  • Rental Property Investor
  • Brooklyn, NY
  • Posts 272
  • Votes 165

@Michaela G.

Exactly. I always wondered why some people think they deserve to live in a world where nothing ever progresses, advances, evolves or changes for all eternity and everything should always remain exactly the same forevermore...  I can't think of a worse hell on earth.

Post: Rent control sweeping the nation ?

Michael G.Posted
  • Rental Property Investor
  • Brooklyn, NY
  • Posts 272
  • Votes 165

@Joseph Kotey

My only answer is to stay away - far away - from any building that isnt a 100% free, market-rate parcel, as we've always done.  We've never felt comfortable with these types of buildings, and all the convoluted regs, and the types of (sometimes) entitled, unappreciative tenants one tends to find inside these properties makes it hornet's nest of problems that simply aren't worth the trouble.

I know that some are prepping a lawsuit, but I don't know much else.

https://nypost.com/2019/06/24/landlord-groups-planning-lawsuit-over-new-ny-rent-law/

Post: Rent control sweeping the nation ?

Michael G.Posted
  • Rental Property Investor
  • Brooklyn, NY
  • Posts 272
  • Votes 165

We know from experience what happens when ignorant (even if well-meaning) politicians angling for extra votes get involved in markets they don't understand :  Disastrous unintended consequences.

Often, the road to hell is paved with good intention.