Craig Roche
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An open letter to the next mayor from a small NYC landlord
By Craig Roche
October 3, 2013 - 13:08 PM
Dear Mr. Mayor (whoever you turn out to be),
Congratulations on your victory! Even though you’ll be getting rent-free subsidized housing for the next four years, you still face a housing problem.
If you want to keep small landlords (and the cost-effective housing that we provide) in the system, here are some suggestions.
Read More Want an upgrade to your rental? Start thinking like a landlord
By Craig Roche
September 12, 2013 - 10:43 AM
Most tenants are afraid to ask their landlord for upgrades, as these tend to lead to rent increases. While this is true, you shouldn’t get too stressed, as living in a crappy apartment that you have to move out of often costs even more than living in a well-maintained apartment.
When a tenant asks me to upgrade his apartment, there are two basic questions that I ask myself:
Do I need to do this?
Can I charge more rent for it?
Read More Re-Lease Me: A landlord's guide to lease renewals
By Craig Roche
August 29, 2013 - 10:43 AM
Most market-rate leases in NYC are for one year. As their leases approach expiration, I’ve noticed that I see my tenants less frequently, presumably because they’re afraid that if they are too enthusiastic (or visible), I’ll nail them with a punitive rent increase. Though this may be news to tenants, this isn’t how most small landlords operate.
The first question that I always ask myself is, “Do I want to renew your lease?"
Read More Is your landlord requiring you to get renter's insurance? Here's why Read More
By Craig Roche
August 15, 2013 - 14:44 PM
What if a kid’s baseball broke your front window and then a torrential thunderstorm blew in and ruined everything in your living room while you were on vacation?
If you are like many young renters in NYC, rather than having the foresight to spend a few hundred a year on renter's insurance, you’d just go back to Ikea and plunk down $1,000 for new furniture (and, if you live sufficiently high up, you’d probably try and go get a sports agent for the young slugger).
That's all well and good for you.
Insider moving tips from a small landlord
By Craig Roche
July 18, 2013 - 10:14 AM
As I’ve explained before, I hate losing tenants, but sometimes they leave anyway. Once I’ve signed the lease with the incoming tenant, collected three months of rent upfront, and agreed to a move-in date, my goals around a tenant move-in are pretty simple:
Read More Top 10 reasons NYC's small landlords are becoming extinct
By Craig Roche
June 27, 2013 - 10:18 AM
A hundred years ago, men and horses farmed vegetables, and most rentals were in owner-occupied buildings.
Today in NYC, we call those farmers "urban gardeners" or "Amish"--and artisanal, old-style landlords are just as uncommon. Here are the top 10 reasons why:
1. Rent regulation: Rent regulation, imposed in 1947 and again in 1971, did not provide enough revenue for small landlords to function. Small landlords burned their buildings, defaulted on property taxes (NYC owned two-thirds of Harlem and the South Bronx in the early 1980s), sold their buildings to the tenants (a.k.a. the co-op conversion craze of the '60s-'80s), or sold out to better financed (and bigger) landlords.
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