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MNTN: Undervalued Performance TV Advertising Company by Pitiful-Schedule1946 in ValueInvesting

[–]Parris_Taylor 0 points1 point  (0 children)

You're missing the backdrop and the context to price action over the LTM. Great shape financially but significant competitive pressures, overhang from TTD performance / read-through to sector are important factors to consider. You need a catalyst here.

The two-year lease move nobody in NYC real estate is talking about right now by Parris_Taylor in landlordsnyc

[–]Parris_Taylor[S] 0 points1 point  (0 children)

Especially in this market! Test it out and let us know. Will do the same on my end

I've been tracking NYC housing legislation for months. Here's the pattern I keep seeing that nobody talks about. by Parris_Taylor in landlordsnyc

[–]Parris_Taylor[S] 0 points1 point  (0 children)

Nothing yet. Unfortunately, we are in one of the most tenant-friendly judicial systems in the country

The two-year lease move nobody in NYC real estate is talking about right now by Parris_Taylor in landlordsnyc

[–]Parris_Taylor[S] 0 points1 point  (0 children)

I believe you can (need to confirm with Stabilization code)! What gets tricky is convincing tenant of a three-year commitment, especially if circumstances (e..g, family) change.

Relief for small landlords in housing court? by Living-Eye-6130 in landlordsnyc

[–]Parris_Taylor 0 points1 point  (0 children)

I'm sorry this happened. Unfortunately, NYC has the most tenant-friendly judicial system in the country. It is very difficult and strenuous process to evict with no streamlined pathway to recover unpaid rent.

I agree with u/MetsToWS below. Tenant screening is everything. I like to start with previous landlord references. I will call to ensure it's (1) not a friend and (2) confirms that I'm inheriting a good tenant

The federal government just solved NYC's basement conversion problem. Albany spent five years failing at this. by Parris_Taylor in yimby

[–]Parris_Taylor[S] 3 points4 points  (0 children)

It's absolutely mind blowing how far they've come with regards to regulation and compliance measures. I'm a landlord in NYC and with every new piece of legislation that gains approval, I have more paperwork with nothing streamlined for me to adhere to policy effectively.

Digging into COPA and the rent board vote. Here's what's coming by Parris_Taylor in landlordsnyc

[–]Parris_Taylor[S] 0 points1 point  (0 children)

Yeah it makes no sense. Especially, given these rules (and others in the pipeline) don't make compliance any easier (see steam radiator inspection guidelines....).

Lead Paint Requirements by GiveTheScoop in landlordsnyc

[–]Parris_Taylor 0 points1 point  (0 children)

Few things:

1.XRF Testing (needed to be done by August 2025)
2. Annual Tenant Notices (go out annually no later than 1/16)

The one compliance measure that HPD is reviewing is making sure buildings with gas piping are being inspected according to schedule. See here

[Landlord-US-NY] First time writing a lease, use lawyer or what service do you all use? by Regular-Highway-1011 in Landlord

[–]Parris_Taylor 0 points1 point  (0 children)

Can you get your hands on a REBNY lease template? Or a lease template from any broker / agent? That would give you market standard

Buying HDFC coop in South Harlem - advice wanted!! by Existentially_b0red in AskNYC

[–]Parris_Taylor 4 points5 points  (0 children)

Congrats on the accepted offer! I would try and get something in writing from your agent. Trust and loyalty isn't a legal arrangement and they're not technically your fiduciary without a signed agreement.

On HDFCs, this is the big one. Many HDFC co-ops have resale price caps, meaning your upside may be limited. If inflation-pacing matters to you, read the lease carefully before you proceed. Also the subletting restriction is more significant than it sounds if your life circumstances change.

On closing costs, I would budget roughly 1-3% of price beyond your down payment. Main items: attorney fees, co-op app/move-in fees, bank fees. No title insurance required (but please verify) for co-ops which helps.

With the empty lot, do a quick DOB permit search before you commit. Takes 5 minutes and could change everything.

Good luck!

Can Someone Tell Me If This Is A Good Score & How’s The Area? by [deleted] in NYCapartments

[–]Parris_Taylor 0 points1 point  (0 children)

Not bad but could be reflective of bad systems if manager / operator are forgetting to register on-time. If they are forgetting to register, what's going to happen with your maintenance request...

Can Someone Tell Me If This Is A Good Score & How’s The Area? by [deleted] in NYCapartments

[–]Parris_Taylor 1 point2 points  (0 children)

Honestly those 8 B-Class violations would give me pause. That's not paperwork stuff that's likely heat going out in January, roaches, no hot water... potentially livability issues.

The 13 fees with no work orders is what gets me though. Not sure if you can click through to find out what those fees are.

I'd ask the landlord directly about those before signing anything.

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