All Forum Posts by: Erik B.

This has all the signs of a "rash emotional decision" written all over it.

You can get a 10% COC on LTR in so many places with management included.

Why would you want to do all the work of a STR for same Return?

Noone knows how high the market will go or when it will turn especially in the keys. But I personally would definitely figure in that this property may be worth less in a years time.

If you can cash flow w LTR that is a nice safety net to have. But would make sure you have ALL numbers accounted for.

Is it really $200 per night? That seems low with the amount of people traveling post pandemic. Maybe we can rent a week from you in the future!

@Jack Orthman

It would be better for everyone if you could limit the amount of words in your posts.

@Jill F.

I did not say this info came solely from the state of NY. It's mutiple states having same issue which is why they keep relaxing the requirements more and more to get qualified applicants. It is a FACT that many people applying for rent relief do not qualify initially because they did not experience a loss in income. They made more off of unemployment than they did previously at their normal pay. This is not opinion this is fact.

The requirements come from the federal govt as well as the funds. Although I do believe the states can add additional requirements on top if they like.

Regarding rent relief programs. (I am close w someone who works on these contracts)

They are taking applications in phases and are having trouble finding qualified candidates and basically can't get rid of the money. So they will change the parameters and ease the requirements and call it phase 2, and when that doesn't work they iniate phase 3...

At some point some states will allow landlords to file a claim so keep watching for updates and changes to your states program.

The reason most don't qualify is because they did not experience a decrease or loss in pay. Many experienced a increase in their income with unemployment yet still decided to not pay their rent.

@Theresa Harris

That's coming in later phases of the program in some states.

@Jill F.

It's because most don't qualify for the program.

Contractor here, this is on him. Tell him that he should put the claim in to his insurance... (bet he doesn't have his tools insured)

10k is probably excessive but I had some tools stolen out of a truck one time and it wasn't the big ticket items it was the little $30-$50 hand tools that added up way more than I would have guessed. either way it's on him

@chris huang I'm not familiar with Staten island or HPD? But  most of those repairs with the exception of electrical would typically be non permit repairs. 

maybe someone else can chime in but I would assume they  could be repaired and then just call for an inspection. 

can you call the office and find out what will be involved in clearing the violations and if there is any fees or costs associated with doing so?

I hate to say it but contact an attorney familiar w your local laws. Maybe there is a legal way to get them out quicker.

sounds like they are not taking you seriously. At the risk or losing more rent (you most likely already have property damage and turnover repairs) serve them now and maybe they will shape up when they realize they will be moving in the near future.

 Have other tenants submit their complaints in writing to management/LL to help prove problem is w tenant.

 Been seeing all of you're anti investor posts. I'm truly sorry for whatever is causing so much hatred in your life.