Are you managing your own properties? Are you getting tangled in all the new rules? Does advice from family, friends and casual legal advisers backfire? Do you have complaints and violations that you feel are unfair or unexpected?
If you are managing your own properties – because of the large volume of work to be done and new laws to keep track of – chances are there is room for improvement. It doesn’t just take you – it takes a team! If a self managing Landlord or a management company is not absolutely adept in the rent regulation laws it could result in ruinous costs and repercussions. Owners of small or family owned properties can find themselves embroiled in the onslaught of new legislation such as rent stabilization riders, new FDNY rules, and a whole host of new rules and regulations. Despite best intentions, children, family members and casual legal advisers are unable to effectively provide sound advice due to lack of knowledge, inexperience, or lack of time to keep pace with the ever-changing laws.
If a self managing Landlord or a management company is not absolutely adept in the rent regulation laws it could result in ruinous costs and repercussions. One violation alone can cost more than several months of management fees.