I work at the Mayor’s office in Albany, NY and was talking to an officer who owns several properties in the city. I mentioned that my goal was to purchase a four unit; live in one while I rented the other three out while studying for my graduate degree. His advice was to go with three units because I’d have to pay more in garbage fees for a four unit, but if I bought a three unit and rented the other two out, I would only be responsible for the garbage fees in the two rented units and the fee would be less than if I were to have a four unit.
Does anyone have experience dealing with Albany and the garbage fees? Are there any other miscellaneous fees that I should be aware of before investing in Albany?
I have couple duplexes in Albany. Garbage fee is $180/year. If you have a SFH it's free, 2nd unit is $180. I think every additional unit is also $180. I have tenants pay that as an extra charge ($15/month). Albany is also known for high taxes.
@Sebastian Naczas I believe you are correct, its $180/year per unit up to 4 units, you get 1 unit for free. I'm curious, do you find it better to add this as a fee on top of the rent or just raise the rent to cover the added expense? What do you do about the water bill, add another fee or just include it in the rent?
@Steve B. I have both as fees. It comes out to few bucks per month. It also shows me if the tenant read the lease. But in all honesty I do tell them when I show the apartments.
Thanks @Sebastian Naczas . That’s what the officer that I was speaking to does with his rentals. When I mentioned a four unit he said that the garbage fee would be more than $180. I’ll have to clarify. It seems to come up a lot in discussion. Also, neighboring cities such as Troy, NY are considering implementing a garbage fee as well, if they haven’t already.
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