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2023 New York Security Deposit Laws: A Guide for Brooklyn Residents

2023 New York Security Deposit Laws: A Guide for Brooklyn Residents

Nov 08, 2023 ,,,,,,,,

Welcome, Brooklyn residents! If you’re a landlord or tenant in our vibrant borough, you may be curious about the latest updates to New York’s security deposit laws for 2023. We will break down the latest and most significant changes to New York’s security deposit laws for 2023. So, let’s get right into it. Understanding Security […]

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Safeguarding Your Property: Detecting Fraudulent, Expired, or Canceled Certificates of Insurance

Nov 08, 2023 ,,,,,,,,,,,

When it comes to property management and renovations, a genuine and up-to-date Certificate of Insurance (COI) is your safety net. Beyond detecting fraudulent COIs, ensuring that the policy is current and has yet to be canceled or expired is equally crucial. Contractors sometimes acquire a policy for documentation purposes, only to cancel it later. You […]

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Crafting an Effective Landlord Reference Letter for NYC Rental Applications

Oct 09, 2023 ,,,,,,

In the realm of New York City rentals, prospective tenants are often asked to provide a landlord reference letter as part of their application. This valuable document offers landlords deeper insights into a potential tenant’s rental history and behavior. At Realty Collective, we understand the significance of these reference letters and aim to guide you […]

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What Tax Documents Do I Need To File My Taxes as a Landlord?

Apr 18, 2023 ,,,,,,,,,,

When becoming a landlord or property manager, you are responsible for reporting your rental income each tax season. You can be subject to costly fees, fines, or penalties if you don’t report the proper landlord taxes. This is especially true with the current 1099 requirement from the IRS.  1099 requires landlords to report rental income […]

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To Ban or Not To Ban E-Bike Battery Storage

Mar 21, 2023 ,,,,,,,,,

This year alone, there have been more than 30 fires all around New York City due to faulty e-bike batteries, leaving landlords & management companies unsure on how to mitigate the potential risk. NYC lawmakers, too, are concerned about the safety of tenants across the five boroughs, banning the sale of non-certified batteries to reduce […]

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Four Signs Hiring a Rental Management Company Makes Sense

Apr 18, 2022 ,,,,,,,,

Being a landlord is hard work. When you’re not marketing open homes and looking for renters, you’re contacting current tenants about upcoming payments and fixing leaky sinks, running toilets, and updating items the inspector disproves. Thankfully, rental management companies exist to support you in all of these areas! Below are four points that say the […]

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Want Quality Tenants? Then Make Sure You’re a Quality Landlord. Here’s How.

Feb 09, 2022 ,,,,,,,,

Being a landlord is a specific type of responsibility that is not for the faint of heart. It takes commitment, diligence, and flexibility – because if you want good tenants, then you need to be a good landlord. Here are some tips to make sure you’re living up to your potential as a Brooklyn landlord. […]

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So You’ve Decided to Rent Out Your Home — Now What?

Feb 08, 2022 ,,,,,,

So, you’re a new landlord. Before diving into heaps of helpful information, a congratulation is in order. You’ve set off on a challenging, rewarding, and revenue-filled journey! There’s never been a better time to try out the scene, either, with record-high renters —and rates— entering Brooklyn in 2022. We’ve compiled some tips to set you […]

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Want to Know the Secret Behind Stress-Free Tenant Screening?

Jan 05, 2022 ,,,,,

Being a landlord is a great way to earn a living, or even some extra side cash, but it definitely comes with its challenges — one of the biggest being bad clients. It can be tricky to find individuals, couples, friend groups, or families who will pay you on time and treat your home well. […]

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Selling a Property With Tenants

Jan 19, 2021 ,,,

Once you’ve decided to sell a rental property, there are two routes you, as the landlord, can opt to go: You can wait for the tenant’s lease to expire before putting the property on the market or you can sell with tenants still in the home. As you might have guessed, there are pros and […]

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