All Forum Posts by: Parney Willson

Thanks

I am working with a rental broker. The relationship started out fine, but then I asked to see an apartment that we already saw again to see what it is like during the weekend instead of the week. They said no because they "don't show listings twice. One time should be enough." 

Long story, short, after explaining a bit more why, they said okay as long as it is just the one I'm interested in and not all the ones we saw (which was what I wanted all along). However, when I tried to schedule they are suddenly unavailable the whole weekend and want me to wait until after the weekend.

I don't feel right about this, but not sure if it's just me being overly cynical or if this is a red flag and I should move on from this agent. I feel bad calling up the listing agent and applying with them. I can wait until after the weekend but something doesn't sit right with me and feel like the agent is just blowing me off vs simply being busy over the weekend.

Am I being too cynical? Also what are some other red flags to look for in a rental agent?

I'm doing the math for a condo listing in New York City and seeing that property taxes will be $13,000 a year. Does this sound right? It sounds high to me, but I've never purchased a home. I'm still in the learning process. I didn't know property taxes were so high. This would be much higher than the mortgage (several times higher!).

In New York City, I have seen foreclosed condos under market, but have rent stabilized tenants paying about $800 or similarly ridiculously low rents. 

My question is if were to buy such a property, what are my rights as a landlord/owner in terms of rent?

I wouldn't want to force the current tenant out and would instead wait them out.  But am mostly concerned with what happens to the rent stabilization once/if the tenant moves on from the unit? Does the apartment become de-regulated thus allowing me to rent at market value? If not, suppose I decide to move into it instead? Suppose I move into it then move out the next year?

Is there a drawback I am missing with regards to buying a foreclosed condo with a rent stabilized tenant and waiting them out? Is it possible for me to learn more about this tenant (age, health, etc.)?