All Forum Posts by: Michael McConlogue

Cash for keys works but don't let them off easy at your expense. I let them know that there still responsible for their rent and late fees. My lawyer goes after them. I don't let them off the hook after sitting in one of my houses for months. I had a guy evicted in January and received a $1600. Judgment for the months he didn't pay. I may never see the money but if he ever wants a car loan or any loan for that matter he's not going to get it until the Judgment is satisfied. 

That sounds horrible. keep shopping 

Its effective/Binding the day you sign and goes into affect according to the dates on the lease. after screening and everything checks out. Get your security deposit and sign. Don't wait for the lease dates.

Thats why I buy and hold. Been there done that. Read tax free wealth by Tom Wheelwright. It changed the way I invest in Real Estate.

Wesley W. well said. (BTW i have not had a problem getting rents)

I live in Macomb on the other side of the lake. I have 2 waterfront properties But I don't bother with seasonal rentals up here. We only get two good months of the vacation crowd. I keep one for myself and the other is on an annual lease. Plus I hear NY State is going to be taxing short term rentals with a hotel tax.  Black Lake has more rental units on it then the demand to fill the vacancy's. So it's easy to get a place for $500-$700 for the week. 

But if your looking for yourself you can find good deals in the fall. and of the 5 or 6 towns that touch Black Lake Hammond is one of the better ones as far as Taxes go.

I don't charge anyone for background checks and screening. It's their responsibility to provide me with an accepted form of credit report and background check. I let them know that we use COZY for our online payments. They can do whatever they want. If they want to use another screening company that's fine, but at the end of the day it's up to me to decide based on the information that I receive. The Law States:

A landlord, lessor, sub-lessor or grantor may charge a fee or fees
 to reimburse costs associated with conducting a background check and
 credit check, provided the cumulative fee or fees for such checks is no
 more than the actual cost of the background check and credit check or
 twenty dollars, whichever is less

It does not restrict COZY from charging whatever they want. They are providing a service in a free market. Remember: The law is suppose to keep landlords from profiting on screening. 

I have all serious applicants go through COZY. Its easy and you get all of the screening info right from the COZY main page. Also I was pre screening with Been Verified app on my phone but that just got expensive.

According to the New Law you can charge up to $20 for Credit Check and $20 for background check. So $29.95 is fine. I have been using COZY and have not had a problem. 

file:///C:/Users/tunat/AppData/Local/Packages/microsoft.windowscommunicationsapps_8wekyb3d8bbwe/LocalState/Files/S0/668/Attachments/LLT%20Amendments%20from%20June%202019%20Legislative%20Session[823].pdf

https://www.nytimes.com/2019/06/17/nyregion/newyorktoday/nyc-news-rent-laws-ny.html