Many renters in New York and San Francisco share the same plight: to get the benefit of big city living, they're stuck in tiny apartments that don't always feel comfortable. Moving may not be an easy option, especially when larger spaces blow through the budget possibilities much too quickly.
Due to the unique nature of New York City, rental laws in New York have always been more complicated than anywhere else in the country. This makes sense in a place with 65% renting population including 5.4 million people. While most states have a few landlord-tenant laws that protect the rights of both parties, New York has a complex patchwork of legacy policies, protections, and rental statuses that only exist within the state and NYC itself.
Rental prices in New York City are steep, to put things lightly, and subletting is practically a way of life. Few people can afford to live in an NYC apartment comfortably on just one salary and unmarried professionals often partner up through the art of subletting.
Managing rental properties is an important responsibility. As the owner of rental residences, you are providing affordable and flexible housing for families that do not yet own a house or aren't ready to put down roots yet. From Los Angeles to New York City, landlords serve a vital role in the community and their responsibilities are vast.