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Rentals | From 'Urb to 'Burb Blog

Thursday, May 7, 2020   /   by Vanessa Saunders

Cuomo gives renters 60 more days rent free!

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By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
May 7, 2020
Today, Governor Cuomo extended his eviction moratorium to August 20, adding 60 days to the ban. He also put a ban on late fee and missed payment charges during the hold.
This comes as good news for renters facing virus-related financial hardships. The governor also said renters could use their security deposits to pay rent, then repay the deposits over time.
Cuomo first put a moratorium on evictions due to nonpayment in March, as most businesses and recreation in the state were forced to shut down in the effort to slow the spread of the virus and its resulting disease, COVID-19. With many living paycheck to paycheck and unable to work, Cuomo said many renters are anxious.
He may opt for a further extension of the hold on evictions.
The news isn't good for landlords who depend on rent payments to cover their mortgages, taxes and other expenses. Cuomo said that the state is looking into an as-yet ...

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  hudson valley real estate, pandemic, rentals, rent moratorium

Thursday, February 6, 2020   /   by Vanessa Saunders

Landlords now must pay real estate broker fees. Good news or bad for tenants?

Because of new rental restrictions in New York, landlords must pay the fees of their brokers instead of requiring tenants to pay up front. At first, this sounds like good news for tenants, but critics say landlords will skirt the law simply by raising rents to compensate for the added expense of a broker. 

Tenants hiring a broker to find rental properties for them will still be responsible for the broker's commission. 
For more information, click HERE to view the CBS2 New York news segment aired on the eleven o'clock news, Wednesday, February 5, 2020.

If you're considering renting, buying or selling a property locally or globally, or need more information, CLICK HERE.

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  westchester county, manhattan, buying vs renting, manhattan real estate, condos, rental available, rentals

Monday, January 20, 2020   /   by Vanessa Saunders

Why you can't afford to fall into the rental trap.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems

Every year around this time, we take time to reflect and plan for next year. If you are renting your current home but have dreams of home ownership, your plan for the new year may include buying, and you wouldn’t be alone!

According to the Bank of America Homebuyer Insights Report, 74% of renters plan on buying in the next 5 years, with 38% planning to buy in the next 2 years!

When those same renters were asked why they disliked renting, 52% said that rising rental costs were their top reason, and 42% of renters believe that their rent will rise every year. The full results of the survey can be seen below:






It’s no wonder that rising rental costs came in as the top answer! The median asking rent price has risen steadily over the last 30 years, as you can see below!







There is a long-standing rule that a household should not spend more than 28% of its income on housing ...

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  hudson valley real estate, hudson valley home, buying a home, home investment, hudson valley home owners, orange county ny, westchester county, rockland county, ulster county, sullivan county, hudson valley house, manhattan, dutchess, buying vs renting, first time home buyer, down payment, hudson valley rent, rentals

Monday, November 18, 2019   /   by Vanessa Saunders

Look out, landlords - Rent control is on the rise.

There's a growing trend among the homeless in New York City. According to Jacquelyn Simone, policy director of Coalition for the Homeless, over the last few years, more and more of the people who come to her agency for help are working New Yorkers who simply can’t keep up with booming rental prices topping nearly $3,000 per month. As a result, she said the city is facing it’s worst homelessness crisis since The Great Depression. Simone added that the length of stay for people in the shelter system has steadily risen as the the supply of affordable apartments has declined. “About a third of families in shelter have someone who is working and just can’t afford an apartment.” 

The Joint Center for Housing Studies’ 2019 State of the Nation’s Housing report confirmed that the stock of low-cost units priced below $800 per month has actually declined 17 percent (4 million) since 2011.

Inman News reported recently that the problems seen in ...

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  hudson valley real estate, orange county ny, westchester county, rockland county, 'urb to 'burb, ulster county, sullivan county, manhattan, dutchess, buying vs renting, hudson valley living, manhattan real estate, rental available, central park west, multi-family, rentals

Thursday, September 12, 2019   /   by Vanessa Saunders

The new rental laws from Albany - What tenants and landlords need to know.

The new legislation out of Albany for rent reform mostly impacts what are called market-rate tenants, (renters not protected by current rent controls), and their landlords. Though it isn't the sweeping reform bill many were hoping for, the legislation does contain some interesting new provisions for all tenants, ranging on issues from security deposits to eviction proceedings.

Putting the brakes on shakedowns: security deposits, background and credit report fees, and pet deposits.

Under the newly passed bill, market-rate tenants are required to put down no more than one-month’s rent as security deposit, matching the rule that currently applies to rent-regulated tenants. Landlords are limited to the amount they can charge prospective tenants for credit and background checks, either for the actual cost of the service or $20, whichever is lower.

Pet lovers may like that landlords cannot charge an extra fee for damage done by pets allowed in the apartment. Pets can cause ...

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  hudson valley real estate, hudson valley property, 'urb to 'burb, buying vs renting, hudson valley rent, manhattan real estate, rentals

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258

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The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

©2020 One Key, Inc. All rights reserved.

The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.