All Forum Posts by: Dirk S.

 Frank

I dont have a problem with a disagreeing post, and you say you did well doing foreclosures, good for you. But if you are implying that all landlords who own rent stabilized units act like your friend, or that I was implying to use such methods, then I have a problem with that.

Besides, you are saying your friend made out very well, so this kind of contradicts your original statement that RS is not profitable.

 I would not say that rent stabilized properties per se are unprofitable. It is a bit more complex. You can buy RS properties right now that are at least according to their listing profitable, because they are also priced lower. The main motivation for investors to buy those properties is the goal of eventually turning the rent stabilized apartments into free market apartments over time, increasing market value of the property that way. That has long worked successfully (and again, the property does not have to be cash flow negative at the beginning, but you will be expecting to invest into modernization). A word of caution though, investing in RS properties also is tied to the legal and political situation. Here in NYC a lot of RS property owners are now in trouble because the laws shifted unexpectedly and they cant make their apartments free market.

I am looking for an organization that supports landlords and property owners across all their needs: tenant relations, financial, legal, other advice. I am not from the US originally and in my home country there is such a thing, a national organization with offices in every major city, who provide information and services to landlords and home owners in general, for a small annual fee. 

I googled this and found 2 so far (let me know what you think):

https://landlordassociation.com/membership.html#join   (specializes in tenant screening and management)

https://www.american-apartment-owners-association.org/regist...    (seem to provide a broad range of services, closest to what I am thinking)

Of course, this website is phenomenal and I have benefitted greatly already, but still wonder if there is such a thing.

Your second version fits our HOA perfectly. Total corruption and incompetence. Yes, pushing as much as I can. Trying to get others involved. I am noticing there is a sort of apathy with some other owners, its difficult...

Actually I read they can crawl 30 feet in one night. The exterminator seems good, one thing at least in the positive column.

 Of course that is completely agreed, however the big problem here is that this is some sort of obsession, hoarders do what they do - bring in more trash, its like an addiction. It is with the building lawyers but I am not hopeful that will change her ways. The best way I see is hitting her in the pocket book. And protect my unit best I can. The hallways here are not something where people hang out, they come off the elevator and go to their units.Unfortunately her unit is right across from  of the elevator. Could we have picked them up by walking there? Sure, its possible but I still think they walk around into other units more likely. To further protect myself I now take the elevator to one floor below and walk the stairs up which avoids her area. 

There is a clear timeline of infestation, the exterminator at the time reported that the hoarder  was infested 6 months ago (and it was not addressed by management). Then in July it had spread to her direct neighbor to the left, and subsequently  it hit the hallways, and finally me who is further down the hallways. Of course there is no ultimate proof, but that is a strong evidence. I would assume that her side would argue what you are saying though - this is why I would like to know if there is anybody, lawyer or not, who has dealt with this before.

Thanks for every reply. the condo board (HOA) is trying, but they are not getting anywhere fast because the hoarder is not cooperating. As mentioned is with the building lawyers right now. This is probably going to take quite some time. In the meantime she continues to do her thing, risking more bed bugs spreading.

Therefore, apart from legal options, I would like the HOA to pay for reinforcing my apartment door. It is out of alignment and there are gaps the bugs could walk through. I also want to insulate all around the frame so it creates an airtight seal. I think this is the HOA's responsibility, because I believe the door is part of the common areas in a condo building, and they should protect me from future infestations, since the issue with the hoarder looks like its going to be a while. Additionally the agent was negligent, not addressing the situation for over 6 months. Is it reasonable to ask the HOA for this measure?

I have a situation in a condo building (100 units) where on the floor where I own a unit lives a hoarder who constantly brings in trash from the street and with that bed bugs into the building. Management has been slow and ineffective to address the issue and now they spread to multiple units including mine. 

The condo is bearing the cost of the cleanup for now, but my big concern is that the hoarder will keep doing this and my unit is going to be at risk long term, affecting rental/sales value.. Management has involved the condo lawyer now because she is not cooperating, and also started involving Adult Protective Services. All this will take a long time probably. Can I directly sue the hoarder (she owns her place free and clear and is current on all payments), as well as condominium, managing agent, maybe even the long term building extermination service who knew about this and failed to resolve it? Any lawyer who has direct experience with this issue please let me know.

I could join up with other affected unit owners.

 Excellent bonus point. Thanks a bunch (to all who answered). I confirmed my theory by simulating the scenario in Turbotax as well. This forum is awesome!

 Thanks, can you tell me more about this " Net Investment Income Tax"?
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