Landlords used to be free to ask for what they wanted from new renters when it came to how much money they had to put down before they moved in to an apartment or house. Typically, that involved about three times the rent for the property -- or more. Payments took the form of the first month's rent, a hefty security deposit that could be equal to several months' rent and the last month's rent -- all paid in advance when the lease was signed. That has changed, however, thanks to the Housing Stability and Tenant Protection Act (HSTPA) of 2019. Here's how the new rules work: Landlords are no lon ..read more

You spent a lot of time and effort looking for the perfect piece of real estate. When you found it, you made a fair offer -- and the seller readily accepted. Now, the seller wants to back out. This is frustrating for many reasons. First, you've likely paid for the property inspection and had the title search completed, and you've incurred a few other expenses along the way as you approached closing. Second, since you expected to close on this property, you stopped looking for another -- and you may have passed up other pieces of real estate that are now in the hands of other buyers. Is there a ..read more

Having disputes with others is something that most adults will have to deal with at some point in their life. While most of these don't amount to much, there are some instances in which the disputes have high stakes. One example is when shareholders in a private corporation or a limited liability company don't see eye to eye. Having a dispute amongst shareholders can tear a company apart. Because of this, it's imperative that these disputes are handled properly and as swiftly as possible. Not only are there several options that you can focus on that might prevent these disputes, there are also ..read more

There's a lot of money to be made when you're a commercial landlord, but only if you can stay out away from expensive lawsuits. A good, solid lease is often the key to keeping out of court. Here are some of the best tips you should keep in mind when you're making agreements with your tenants: Make good use of screening tools: There are plenty of ways to check a tenant's financial security before you agree to lease to them. Don't make the mistake of assuming that someone can afford to pay just because they look and seem successful. Don't ask the wrong questions: When screening tenants, remembe ..read more

When you own a condo and run into problems paying your mortgage, you're protected from a hasty foreclosure by a complicated set of judicial processes. That's not true, however, for those who live in co-ops. What's the difference? Essentially, it comes down to the fact that condos are real property that are used to secure conventional mortgages. The owner of an apartment in a cooperative, however, doesn't actually own real property. Instead, they own shares in the cooperative itself. What they may call their "mortgage," is actually a loan under the Universal Commercial Code (UCC). The cooperati ..read more

Maybe your employer suddenly shut down or there's been a reduction in the workforce that's left you unemployed. Whatever the circumstances, your mortgage payment is looming, and you don't have enough money coming in from other sources to pay the bill. What can you do? First, it's important to deal with the situation head-on. You have nothing to gain by ignoring the situation. A proactive approach is always the best choice. Here are the next steps you should take: Gather up all of your bills. This will help you better asses your financial situation and make it easier to answer any financial qu ..read more

Individuals who are going into business with each other need to ensure that there are ground rules set for the partnership. This can help to prevent issues in the future because it reduces that chance that there will be disagreements. When there is a dispute, it must be handled carefully. These issues can cause problems for the business if allowed to fester. Having a plan for addressing times when you and your partner don't see eye-to-eye is beneficial. Set the plan for disputes Your partnership agreement can contain a plan for disputes. This can include points like only discussing the matter ..read more

All markets cycle up and down, and real estate is no exception. Right now, commercial real estate in parts of New York is decidedly a "buyer's market" with more retail and commercial properties available than there are interested buyers. If you're an investor who is looking for an opportunity, this may be it. As a whole, the real estate market all over the nation has been booming, particularly when it comes to suburban family homes and condos. That can't be said, however, for commercial properties. The same shift toward remote work that has been driving residential real estate upward is drivin ..read more

Every business has to start somewhere. When you're first starting out, you probably don't want to invest heavily in any real estate, so that means getting a lease. It's smart to remember that leasing a piece of commercial property, however, is nothing like signing a residential lease. There's a lot more room to negotiate, you have less protection against abuses and the consequences of a mistake are usually bigger. If you're about to lease a warehouse for your business for the first time, here's what you need to remember: Understand your operating costs. Rent is just part of what you'll end up ..read more

You genuinely appreciate all the hard work that your co-op's board of directors does. The board members clearly take their responsibilities to heart. They're also a pretty diverse lot, so there's a lot of give-and-take on the important issues -- except for that one guy. One board member always seems to have a specific agenda and doesn't really care about anybody else's perspective. The disagreements no longer seem healthy or reasonable. The board is bogged down with picky disputes that all originate from a single source and that person's behavior has grown increasingly disruptive and offensive ..read more