Poor tenants to get shown the back door

A New York real estate developer has unveiled plans to build a waterfront tower in the Upper West Side of Manhattan that will include both luxury condos and affordable rentals.  What makes this building unique is that the developer plans to include two separate entrances to the building – one for the wealthy and one for the lower-income tenants.

Officials speculate that the builder is looking to cash in on tax incentives by offering affordable housing, but they want to keep the lower-income tenants are kept separated from those with the big bucks.

Just how much will it cost to use the exclusive entrance to the building? Well, a neighboring building by the same developer sells 1-bedroom condos for $1,000 a square foot.

Poor tenants have to enter luxury buildings through the back

The Department of Housing Preservation and Development is still reviewing the plans, which some lawmakers are calling “a blatant attempt at segregation.”  

What do you think? Should separate building entrances for higher paying tenants be considered discrimination?  

For more information about property management services, or to get the best background check for your tenants, visit ATS Inc.’s website at http://www.alwaysscreen.com

Pros of renting to tenants with pets

In a competitive rental market, some real estate professionals might suggest you offer incentives such as free wifi, first months rent free, or a store gift card to qualified tenants just for signing a lease. Others say the solution could simpler: just allow pets.

While pets can be taboo for landlords because of the possibility they could damage your rental, they can also bring about some positive benefits to a property owner.

Let’s look at some of the Pros to allowing tenants to have pets:

·         Less vacancies

If you advertise your rental as “pet friendly,” chances are there will be greater interest in your property.  One study found that rentals allowing pets rented in 19 days, versus 29 days for non-pet-friendly units¹.   

·         More long-term rentals

The same study found that tenants with pets tended to rent for an average of 46 months, as opposed to non-pet-friendly units where the average tenant rented for 18 months.

·         More profit for landlords

Researchers also found that landlords who allow pets see more demand, and therefore can charge higher prices for monthly rent. How much higher? According to the survey, 20-30% higher rents.

Tenants allowed to have pets rent for twice as long as those who can’t

What is your stance on renting to a tenant with a pet? If you’ve had a positive experience, we want to hear about it. Comment below!

For more information about tenant screening, and other tools every new landlord or real estate investor needs, visit ATS Inc.’s website at http://www.alwaysscreen.com.

^{1 http://www.firepaw.org/CompanionAnimalRentersPetFriendly.pdf}

SF Landlords Sentenced to 4 Years In Jail

Last month, two married California landlords were sentenced to four years in jail after being convicted of several reckless acts aimed at evicting and scaring their tenants. The crimes took place over a two-year span, and led the couple to become dubbed, “Landlords from Hell.”

The district attorney in San Francisco said the landlords harassed their tenants by cutting off power and phone service, changing locks, and illegally removing and/or destroying their belongings. They even were charged with soaking the victims’ clothes and electronics in ammonia and using a chainsaw to cut a hole in the floor of one tenant’s unit. They also severed floor joists in hopes of making the building unsafe, and hoping it would ultimately it collapse under the tenants.

The duo also sent fraudulent emails pretending to be their victims. The emails were aimed at making it appear as though the tenants were threatening to kill the landlords’ children.

Authorities say the motive behind the attacks was all due to the landlords wanting to renovate the rental units and sell them off individually. However, California has strict laws regarding the harassment of tenants by landlords, and prohibits the eviction of tenants without just cause.

For more landlord tips or to get the best background check, visit ATS Inc’s website today!

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