renting 101

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affordable housing, apartment living 101, Features, More Top Stories, NYC Guides, Policy, real estate trends, renting 101

NYC affordable housing

Photo via Wiki Commons

Affordable housing is one of the hottest topics in the real estate market these days. It all started with Mayor de Blasio’s plan to preserve or build 200,000 affordable units over the next ten years, which has resulted in a slew of new lotteries for below-market rate apartments, putting his goal ahead of schedule. And let’s not forget the expiration of the controversial 421-a tax abatement, which provides incentives to developers when they reserve at least 20 percent of a building’s units for low- and moderate-income tenants. But despite the buzz-worthy roll affordable housing has been on, many are still left wondering what exactly it is.

Everything you need to know about affordable housing

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apartment living 101, Features, NYC Guides, real estate trends, renting 101

married with roommates

Rents across the city may be climbing, but that’s not keeping college students from wanting to flex their newfound autonomy even further by leaving their dorm for digs off campus. Unfortunately for many of these young scholars—and many first-time renters like them—searches typically start off with head-in-the-clouds expectations (“I had this fantasy about scoring a place with a fireplace and rooftop deck,” says one student with a $1000 budget), which are quickly brought back down to reality when they realize just how unforgiving the NYC rental market is. Ahead, CityRealty goes over what students and new renters need to know when searching for an apartment, as well as how to maximize time and money in a fast-moving and ultra-competitive market.

READ MORE HERE…

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apartment living 101, Features, NYC Guides, real estate trends, renting 101

What You Can Do If You’re Injured On Rental Property

By Tom J. Moverman, Wed, February 24, 2016

rental injuries nyc

Our ongoing series Apartment Living 101 is aimed at helping New Yorkers navigate the challenges of creating a happy home in the big city. This week Tom J. Moverman, partner at the Lipsig Law Firm, a practice specializing in personal injury, joins 6sqft to offer up tips on how to avoid injuries on a rental property, and what to do if they do occur.

In New York City, Manhattan remains the dominating force when it comes to new apartment construction. However, in recent years, boroughs such as Brooklyn have closed that gap considerably. According to BuildingCongress.com, Manhattan accounted for 37 percent of all of the apartment construction in New York City, and in Brooklyn, construction accounted for 36 percent of the rental property construction activity in the city. By the middle of 2015, there had been $10.5 billion in residential construction throughout the entire city of New York (to give an idea as to how much the volume has increased, there was just $11.9 billion in residential construction in all of 2014). With an increase in construction comes an increase in tenant injuries.

When volume increases, the demand to get new buildings up and generating revenue quickly also increases, and this means that corners will often be cut to make sure that rents from tenants can be collected in time to start showing a profit. Unfortunately, people can get injured when corners are cut, and tenants need to know how to protect themselves and fight back.

find out more here

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affordable housing, apartment living 101, Features, NYC Guides, renting 101

rent stabilization NYC

Image New York – Soho (license)

In New York City there are currently about one million rent stabilized apartments–about 47 percent of the city’s rental units. So why is it so hard to snag one? What are the benefits of having one (other than affordable rent, of course)? According to the New York City Rent Guidelines Board nearly 250,000 rental units have lost the protections of rent regulation since 1994. Why are we “losing” so many of them?

Find out the facts and how they could affect you

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