Showing posts with label rental units. Show all posts
Showing posts with label rental units. Show all posts

Sunday, June 24, 2018

What NYC Property Management Companies Should Know About NYC's Smoking Policy On Residential Buildings


On August 28, 2018, the City of New York has placed as the deadline for all owners of all Class A multiple dwellings, including all cooperative corporations and condominiums to adopt a “smoking policy.  Local Law 147/2017 requires all buildings with 3 or more units to adopt a written policy with regarding to smoking on the premises.  What should be taken into account is that that smoking in the common areas of residential buildings such as lobbies and hallways has already been prohibited.  Also of note, this is not a smoking ban but a policy of smoking in residential units.  Property management companies in New York City should advise their boards in either condos and co-ops and owner of rental units of the upcoming Local law enactment.  They should also start preparing for the implementation in written form.

For condominium and co-operatives, it is implied that the board of managers (condos) or board of directors (co-ops) should adopt a written smoking policy and incorporate it into their by-laws as they would be considered owners. The law provides that “in a condominium, the board of managers shall incorporate the building’s smoking policy into the condominium by-laws or rules” and “in a cooperative apartment corporation, the board of directors shall incorporate the building’s smoking policy into the by-laws or rules of the cooperative apartment corporation.”  This issue that will become central is how will the boards have the ability to amend by-laws without unit owner or shareholder approval.  Amending the proprietary lease in co-ops will also be difficult and most of the time requires a super-majority of owners to do so.  How these boards resolve this issue is one that will be further analyzed as their policies get scrutinized by the City.


So now let's look at how the notice requirement can be met on this rule:
For purposes on residential buildings that are strictly rental the rules are the same without having board approval first which is necessary for condos and coops.  Once a board adopts a policy for smoking, it must be disclosed by “owner” to all “tenants”.  Tenants includes subtenants as well.  The smoking policy must either be provided to each tenant or posted in a prominent location.  A copy of the smoking policy must be provided to all tenants on an annual basis. The annual distribution can be given either by providing a copy to each tenant or by posting the notice in a conspicuous place.

For new tenants or resident the law provides that the condominium unit owner and cooperative tenant-shareholder incorporate the smoking policy into “any agreement to rent or purchase the dwelling unit or shares in the cooperative apartment corporation”.  Therefore it should be incorporated into all new leases going forward.
The penalties for not complying with Local Law 147 can be costly.  Specifically initial penalties will be between $200 and $400 for a first violation.  Second violations will be between $500 and $1,000 in a period of twelve months and between $1,000 and $2,000 for a third and subsequent violations in a period of twelve months.

With right amount of planning complying with new smoking policy in New York City should not be difficult.  For more information on Managing Smoke Free Rental you can click here.

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.

Saturday, November 12, 2016

Tips for Property Managers in Getting Your Units Ready to be Rented

In New York City, property management companies are often given the task of marketing the units they manage for rental when they become vacant.  With the rental market becoming more competitive in New York City it is becoming more of a science to marketing their available units.  Rents have stagnated and more owners are giving incentives to tenants to have them sign leases.  Also, in the winter months it is a chore to have the units rents.  Therefore, property managers in New York City have to use their wits and expertise in order to quickly rent their vacant apartments.  Here are some tips we believe helps building management companies should take into consideration to make their units more appealing to tenants:
Inform tenants of the unique amenities that are being offered.
You have to show to prospective tenants what is unique and different in your property.  Setting your property apart will benefit you in the long run.  You should be aware what your target audience is looking for and advertise these features.  Understanding consumer behavior is very important and using what you know about your market will come in handy.  From the high ceilings to upgrades in the kitchen, these amenities should be highlighted by the apartment management company.  Also it is important to understand your geographic region.  What may be important to the renter in Queens may not be as important to renters in downtown Brooklyn.  The demographics of the region should also be considered.  Cultural differences may lead to different amenities being more important.
Invest in professional listing photos.
Tenants have become more savvy over the years and they go to online resources in order to find their properties.  Property managers need to adapt to this and have to make the best first impression by using quality professional photographs.  Many in the real estate industry have already adjusted to the market and have hired full time photographers to assist them with their listings.  Property managers should do that as well.  Professional photographs attracts prospective tenants but also people that not looking but may reconsider after looking at your quality listings.  Also if you have quality photographs, browsers may be more inclined to share the pictures via social media.

Clear out messy clutter-filled spaces before showings
Having excessive clutter gives the perception that an apartment is not clean.  There can be a perception that the clutter is only the first issue with the apartment.  This can lead to renters to believe although false that there may be pests infesting the unit.  In order to combat the perception building managers should have the floors cleaned. Windows, walls and fixtures as well as the kitchen should also be examined and thoroughly beautified as well. You may also want to air out the unit or run a humidifier to make sure any unpleasant odors have been removed from the apartment.
Make The Unit As Bright As Possible
The natural light of a unit should be exhibited.  Everyone loves to see what they may potentially be moving into.  When renters do a walk though of a property, they envision how they would upkeep it.  The more light they have, the more they can visualize what could be in their future.
 At Blue Harbour Property Management, we understand the importance of marketing your buildings when a unit becomes available.  We have a full-service marketing associate in-house that assists us with all of our client’s needs.  Also we make sure the real estate professionals that show our apartments use high end marketing techniques to not only show your apartments but to make sure you get the best available tenant to rent to.  For more information you can contact us at 718-843-1185.  We manage properties in Manhattan, Bronx, Queens, Brooklyn and the surrounding region.
http://www.blueharbourpropertymanagement.com/tips-property-managers-getting-units-ready-rented/
Visit us at www.blueharbourpropertymanagement.com

Blue Harbour Property Management Opens New Office in Forest Hills, New York

Blue Harbour Property Management is proud to announce the opening of our Forest Hills, New York office.  CEO Jules Doodnath has been directing the property management office in South Ozone Park from its inception in 2013.  “The Forest Hills Office has been envisioned for some time for Blue Harbour Property Management as we would like to position ourselves in one of the hubs of commercial activity in Queens, New York” Mr. Doodnath commented.  Blue Harbour Property Management will maintain the expertise in small and medium sized rental units but will now be able to accommodate a plethora of bigger multi-family units throughout New York City.
Mr. Doodnath also says there’s no better time to open a new building management office than now. “There are many opportunities that exist in today’s market and opportunities will continue as our economy grows and institutional lenders create alternatives for the real estate investor to finance properties.  We are proud to service our clients and to continue to serve our community as well.”
The new office will be located at 118-35 Queens Boulevard in the Forest Hills Tower complex . For more information, contact Blue Harbour Property Management at 718-843-1185 or e-mail at info@blueharbourpropertymanagement.com.
With a combined 20 years of experience, Blue Harbour Property Management has excelled in giving our clients value. We are determined to excel in customer service for both our board members, residents and owners. Blue Harbour Property Managment facilitates owners reach their profit goals by using all methods available when overseeing properties.  We are a full service property management company serving Manhattan, Brooklyn, Bronx, Queens and the surrounding region.
http://www.blueharbourpropertymanagement.com/blue-harbour-property-management-opens-new-office-forest-hills/
Visit us at www.blueharbourpropertymanagement.com