Helpful news and resources for New York landlords.
Price hikes in rent have become a common occurrence in the New York City rental market, where during the previous year, Brooklyn, Manhattan, and Queens all witnessed spikes in rental prices. While prices continue to escalate throughout much of New York City, new units continue to come online. According to The New York Times, more than 13,000 new apartments are expected to open in Queens, Brooklyn, and Manhattan this year. Curbed reports that the median rent in Manhattan is now $3,299.
If you happen to own multiple rental properties in New York City, the process of managing and collecting rents can be more than a little daunting. As a landlord, you naturally want to ensure that you collect rent on a timely basis. After all, you are running a business and if rent is not collected in a timely manner, it puts your business at risk. There is also another very important reason for ensuring that you have a system in place for collecting rent in an organized manner. In the event that a tenant is late with the rent, you need to be able to take action quickly and resolve the situation with minimal fuss.
We created this quick list of relevant links that every New York Landlord should bookmark: