All Forum Posts by: Les Jean-Pierre

You can always look at their credit and income. I have two section 8 tenants and one has a great credit score. The fact is in NYC housing is so expensive that a govt worker needs help. I saw a few people that I knew would not work. My listing broker was very good at judging who seemed legit or not too.

It is interesting. This thread made me think about my property in Brooklyn and converting it to an Airbnb rental. At first, I thought I could make more money with doing the Airbnb thing for only ten nights per month. Then, I realized I would be paying for utilities and cable. And I would need a person to clean the place and prep it for the next guests. To beat my current rent I would need 13 nights a month. I would need 15 nights a month to beat what my target rent will be once the current tenant's lease is up. This also assumes I have a cleaning person who is not a flake and that I set up a reliable system for people to enter without me being there. Having said all this, I know people who are making six figures per year in Manhattan. I would consider it a viable option. I see another property that interests me and the Airbnb option did cross my mind. I should also note that the NYS AG just published a report on Airbnb and how most hosts are breaking the law in some form. NYS law allows a person owning a two family or below to rent out space if they live at the premises. There could be a crackdown on building owners who convert apartments to Airbnb rentals. I went on the site a few minutes ago and I don't see some hosts who had three or four apartments near my place that I used to see regularly.

And thanks for the well wishes. The prospect of never dealing with landlord tenant court again and making more money is enticing.

There are services that help you manage your property. I don't know anyone who has used them however. I have a regular job so I can't meet people when they arrive. I guess I could use some sort of electronic lock. The biggest issue is that my property is in Brooklyn and I live in Harlem.

I don't use it but know people in Harlem who do and are making an absolute killing. I am considering using the model for my rental in Brooklyn instead of having normal tenants. Mngt is the key issue for me.

I had a horrible tenant that I had to go to court to evict. In NYC a tenant is effectively blacklisted if the landlord takes them to court. I would do it again if I felt the need though from a business standpoint, cash for keys, or something similar is better. The tenant has to keep their end of the bargain. I think if a person can't pay the rent then call your landlord and work something out.

Count me in

Good luck with your son.

Great job.

I have a friend who owned a home there and just recently moved. I can ask him for his thoughts.