NYC Property Management Companies Readies For Strike As Workers' CBA Set To Expire

NYC property management companies and landlords throughout the city are preparing their occupants of impending strike by building employees as the collective bargaining agreement between the parties is set to run out on April 20th.  The possible strike cover employees in condos, coops and rentals throughout the city and involves over 30,000 workers in total.  The last time employees went on strike was 25 years ago.

The four-year agreement set to expire on April 20th covers doormen, porters, building laborers and supers.  According to Bisnow, companies are already seeking volunteers from their residents to pick up the slack until an agreement can be reached between the parties.  The Realty Advisory Board is representing building owners and managers.  SEIU local 32BJ are representatives for the employees.  Their relationship of representation extends over an 80 year period.  They have already met 3 times and negotiations are heavily under way.

 “We hope for the best and prepare for the worst,” Realty Advisory Board President of Labor Relations Howard Rothschild told Bisnow. “We don’t want a strike, [but] we also want to plan in case something goes wrong … We want to communicate with our residents and let them know what’s going on.”  Mr. Rothschild states that the cost to an employer for an average doorman or porter is more than $85,000 in wages and benefits  and $91,000 for a maintenance worker.   Also covered is full family health insurance, pension and 401(k) which Mr. Rothschild says is the best benefits in the nation.  Local 32BJ says that compensation is more like $49,000.  Also, 32BJ President Hector Figueroa states  “The real estate market has been strong and profitable, and our members are a key part of what makes New York City apartment living so desirable. We hope to come to an agreement by the April 20 expiration date for a new four-year contract that preserves the good, middle-class jobs our members have fought for over 80 years of contract negotiations."

Blue Harbour Property Management is a full service NYC property management company servicing the boroughs of Queens, Brooklyn, Manhattan and the Bronx.  Whether it be a 1 bedroom condo or multi-family building we are able to assist our clients maximize their investments.

http://www.blueharbourpropertymanagement.com/nyc-property-management-companies-readies-for-strike-as-workers-cba-set-to-expire/

Simple Springtime Maintenance Actions For NYC Property Management Companies And Landlords That Will Save You In The Long Run

Spring is finally here in New York City.  With the onset of Spring, also comes temperatures beginning to rise gradually.  We are also nearing the prime rental season. With the ability to finally be able to stay comfortably outside there is no better opportune time for NYC property management companies to start looking into refurbishing and improving their properties.  This is the best time to put your best foot forward and make sure that your apartments are in the most marketable of conditions.

We have found that there are simple inexpensive actions that you can take as a New York City owner or property manager to put your properties ahead of the curve.

Window Cleaning:
Non-streaked, shiny windows that brings in the beautiful spring sunshine is a sure shine of Spring.  Clearing out the muck from the winter extremities because of the inability for sufficient maintenance during the winter season would be a joy not only to your existing tenants but also prospective ones.   Remember it is always important to have a great first impression for visitors and potential renters alike.

Cleaning the outside of your premises thoroughly
The winter can take a toll on the outside of your building.  Your parking lots may have been filled with snow and mixed within the snow is dirt and garbage.  Once this snow melts out we now can see all of the remaining garbage and it becomes not only an unpleasant sight for most but it can lead to the tracking of this dirt and soot into your building.  The same thing occurs to the exterior walls of your building.  The winter creates weather staining and deposits all around.  We believe that a though professional cleaning is needed.  You should contact a professional that can pressure wash your entire exterior of your premises.  There are many businesses out there and we normally work with companies that are accredited and have certifications from the Power Washers of North America.

HVAC systems

The Spring is the perfect time to inspect and repair HVAC systems.  The reason being is because it not not the season for wearing out your system.  Your HVAC system is at its’ peak use during the summer and winter seasons.  This will allow for thorough inspections and repairs if necessary.  By doing it during the off-season, you will be saving money because the premiums normally spent for emergencies are not there.

Lawn Maintenance & Beautification

The most enjoyable part of springtime maintenance is cleaning and landscaping the exterior of the property.  If there is a limited budget you may just need to clean out weeds, cut a few branches, planting flowers and pruning trees and bushes may be just what you need.  But if you are looking to have a wow factor with lasting impressions it is always advisable to hire a professional landscaper to make a lasting impression to your present and future tenants.  Professional landscaping companies can discuss what our site’s needs are and thereafter suggest improvements to not only beautify the premises but to make it more efficient.  Hiring a professional who can show you past performance is highly recommended.   It is important to know that many prospective tenants cite the landscaping as reasons of taking a tour of an apartment.

By following these actions, you will not only be improving the ambiance of your building but also will increase satisfaction rates and pride of your tenants.  This will not only lead to retaining your existing renters but word of mouth will make your building more attractive to the next generation of residents.

Blue Harbour Property Management is a full service NYC property management company servicing the boroughs of Queens, Brooklyn, Manhattan and the Bronx.  Whether it be a 1 bedroom condo or multi-family building we are able to assist our clients maximize their investments.

http://www.blueharbourpropertymanagement.com/simple-springtime-maintenance-actions-for-nyc-property-management-companies-and-landlords-that-will-save-you-in-the-long-run/

NYC Comptroller Wants Property Management Companies To Report Timely Rent Payment For Renters to Increase Credit Scores

The New York Times is reporting that City Comptroller Scott Stringer will introduce a plan that will encourage landlords and NYC property management companies to give tenants the ability to opt into allowing their rent payments be reported in order to boost their credit scores.  Experian announced an opt-in program since 2010 and it only shows on time payments of monthly rent.
Mr. Stringer along with many advocates believe that this plan will have the effect of  having individuals move into the middle class.  Advocates have stated in the past that having no or low credit makes persons without the ability to build their credit history more susceptible to sub-prime lending.

In these instances they pay more for housing and automobiles making it harder to move up in the economic sphere.

The Comptroller's Office took a sampling of tenants paying less than $2,000 a month and they found that 76 percent of them would have increased credit scores if their rental payments were included.  Mr. Stringer states “This could create a powerful credit history that could lift you out of poverty,”

The Comptroller's plan is to expand the plan to N.Y.C.H.A housing.  Approximately 400,000 are houses in 326 properties throughout the City with the New York City Housing Authority.  In a report conducted by N.Y.C.H.A the New York Times reports

 In zip codes where one in 10 residents were living in a N.Y.C.H.A. property, the average credit score was less than 630, while the average score in the city was 673. Credit scores were lower in rent-heavy or poorer neighborhoods, like the Rockaways in Queens, and higher in the Queens communities of Bayside and Little Neck where there are more homeowners.

About 30 percent of the low-income residents in the analysis would get a credit score for the first time and would have an average score of 700, which is well within the range of a good credit score"

 Although there seems to be advantages to the reporting of payment of timely rental payments, there may be some drawbacks.  Some mentioned include tenants losing the leverage of having landlords fix complaints by withhold rental payments.  That has been a major driving force into having some landlords in the City make necessary repairs.  Also, the reporting may have a costs associated with it which will be borne by the tenants.
NYC property management companies will have increased burdens and costs associated and there have been no indications of what incentives the Comptroller's Office will give NYC building management companies to be on board with his plans.

 Blue Harbour Property Management is a full service NYC property management company servicing the boroughs of Queens, Brooklyn, Manhattan and the Bronx.  Whether it be a 1 bedroom condo or multi-family building we are able to assist our clients maximize their investments.

http://www.blueharbourpropertymanagement.com/nyc-comptroller-wants-property-management-companies-report-timely-rent-payment-renters-increase-credit-scores/