All Forum Posts by: Saq Hussain

Those enormous tenant buyout amounts were feasible before the 2019 rent regulation act.  @Isadore Nelson Yes, eviction is possible, but there are too many factors that need to be taken into consideration, active military family members, disabled veterans, building violations, maintenance issues and etc...

All available loopholes, which allowed deregulation of units were, unfortunately, closed by our elected officials, except the substantial rehab strategy, which requires 80% vacancy throughout the building and 75% replacement of all building-wide systems, you are essentially forced to renovate the complete building and still at the mercy of DHCR.. which has the final saying

If you combine two RS apt.'s, first rent of the newly created unit must be equal to the combined rent of the two previous RS units..in addition, newly created unit will still be regulated, NYS senate just passed bill S2980C..

Substantial rehab is the only remaining strategy, which is not cost effective in the current market

Totally depends on your market, if I provide my phone number on the listing in my market, my phone would ring non-stop all day.. and they all want to see the space and swear they can afford it.. truth is, if someone is in the market to rent, they will submit the application; besides, Zillow applicants can submit unlimited applications within 30 days of paying a one-time $35 fee