Tag Archives: Mount Kisco Homes

How to Protect Yourself Against Bad Landlords | Mount Kisco NY Real Estate

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Bad landlords are bad news, and they come in many different types. They can make you hate living in an otherwise perfect apartment. However, it’s not easy to spot a bad landlord before you move in. Here’s how you can take steps to protect yourself, in case you’re stuck with one of the three most common types.

Type 1: The security deposit grabber

This landlord will consider your security deposit his from the get-go and will look for any excuse to keep your money when you move out.

Protection: Conduct a thorough walk-through before moving in.

Protect yourself against future problems before you move in. During the initial walk-through, make sure you document every flaw you find with your new apartment, even if it’s something that can’t be fixed, such as a stain on the countertop. Make sure to take pictures when you find something wrong, so you’ll have documentation. That way, if the landlord blames you for the problem, or tries to keep your security deposit, you have proof that the problem existed when you got there.

A few areas needing special attention:

  • In the living, dining and bedroom areas: Are hooks left on the wall from a past tenant’s framed picture? Even if they’ve been painted over, write it down. How about the carpet? If it’s worn out, write it down. Also, ensure all lighting fixtures, outlets and switches are in proper working order. Inspect doorknobs and doors, windows (glass, locks, check that all will open and stay open) and window coverings. Also, remember to look through the peephole; this will often get painted over.
  • Kitchen: Test every burner on the stove, plus test the oven. Inspect your refrigerator and freezer for cleanliness and dents and dings. Ensure that all of your cabinets will close, and that all of your drawers glide smoothly. Check countertops and cupboards for chips and stains. Check your dishwasher, sink and faucet. Finally, inspect windows, electrical outlets, etc, as you did in the living room, dining room and bedroom.
  • Bathroom: Check the shower for mildew, as well as the grout around the tub. Flush the toilet to make sure it runs properly and make sure it does not leak. Verify that the faucets work and do not drip. Make sure your towel bars are securely affixed to the wall, and that the toilet paper holder is in place. Again, the key here is to verify the basics of the room.

Type 2: The intrusive landlord

This landlord does not respect your privacy or boundaries.

Protection: Establish a cordial distance from the start.

One of the worst kinds of landlords is the one who feels free to stop by at all hours, ostensibly to check something in the apartment or maybe just for a friendly chat. This typically happens when you rent a single unit in a private house or in a small rental building, and your landlord lives on the same premises. The landlord tenant-relationship can get too close, and you lose your privacy. If that happens, it is difficult to re-cast the relationship without hurt feelings, and you may end up having to move.

Type 3: The non-responsive landlord

This landlord is nowhere to be found when the heat stop coming in or shower turns into a trickle.

Protection: Stay calm, firm and document.

Make sure you first approach your landlord (or property manager) in a calm, friendly tone. Explain what you need fixed. When you realize that no one is making an attempt to fix the problem, you know you are stuck with a non-responsive landlord and need to take additional action.

Additional up-front protection: If you live in a large building or apartment complex, try to befriend your maintenance person — a nice tip on the move-in day can really pay off! Usually the maintenance person will be able handle minor fixes, like unclogging toilets, draining air from the radiator or replacing hard-to-reach light bulbs. You may be able to bypass the landlord entirely.

However, for bigger and more expensive problems like a chronic leak in the ceiling when it rains or replacing a window that won’t shut properly, you’ll need to get the landlord or management company to approve and finance the fix. If they are unresponsive, don’t give up. Continue asking for the fix in a firm tone, but also start documenting every instance you contact the landlord (or management company).

If there is still no response, you need to send a formal demand letter (you can find templates online). Explicitly state the problem, the dates and times you have reported it to management, and their ignoring of your request or their denial to fix it. Then send this letter to the landlord’s business address, using certified mail with a return receipt. Unless the problem is serious (lack of heat or water, for example), give the landlord or management company 30 days to fix it. If that doesn’t work, send another letter. This time, give them 15 days. If still no response, repeat. The third time, give them seven days. Use certified mail with a return receipt every time. If nothing has happened, you now have the documentation necessary to take the landlord to court.

Hopefully, you’ll find a nice apartment with a good landlord, and you’ll never have to deal with bad landlords. However, as you move into your apartment, it does not hurt to take steps to be prepared if the landlord turns out to be less than perfect.

via zillow.com

Apartment Demand Slows in Third Quarter | Mount Kisco NY Real Estate

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Having recently participated on a panel at the National Apartment Summit, I had a chance to discuss drivers of demand and overall trends for the multifamily market. Investors are still bullish on the performance of the apartment sector, though they are concerned with the pace of job creation and the impact of sluggish economic growth on the under-35 years of age demographic. In addition to low wages, this group of traditional renters has also been contending with increasing education debt levels.

With payroll employment still stuck in second gear, demand for apartments has been slowing into the third and fourth quarters. Net absorption of apartment space—a measure of demand—is projected to be 54.830 units in the third quarter, with a year-end total of 219,318 units. This figure represents a noticeable improvement over last year’s demand numbers, especially in light of the supply trends.

Completions of new multifamily buildings have been rising, boosted by financing availability from Government Sponsored Enterprises. Supply of apartments is projected to total about 31,543 units in the third quarter and 80,000 units for 2012.

Given the strong demand of the past year, there’s still a gap of about 140,000 units between demand and supply of space in 2012. Vacancy rates have been declining, reaching 4.3 percent in the third quarter. However, with the slight decline in demand, national vacancies are expected to close the year at a level 4.3 percent. The local markets with the lowest availability rates are Portland, Minneapolis and New York with vacancy rates of 2.0 percent, 2.2 percent and 2.2 percent, respectively. At the other end of the spectrum, Memphis, Jacksonville and Houston continue to work through rates at or above 7.0 percent. Rent growth for office space has been positive so far and is expected to stay in the 4.0 percent range for 2012, although the underlying fundamentals are pointing to a potential slowdown.

via economistsoutlook.blogs.realtor.org

Pro football scores big for real estate | Mount Kisco NY Real Estate

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“Football is the great American pastime, and the Super Bowl is like the last great American campfire,” said Bev Thorne, Century 21’s chief marketing officer.

. “This was an outgrowth of that.”

The question was this: What is the impact on a city when the hometown team does well or doesn’t do well? Century 21 looked at teams’ successes, population growth from census numbers, home value.

appreciation and attendance rates. And the correlation between on-the-field success and real estate prices was evident:

Four of the five cities with teams that went from a losing record in 2010 to a winning record in 2011 saw average home.

sales prices increase between 2010 and 2011.

After winning the Super Bowl, Green Bay, Wis., saw a population growth of 1.7 percent in 2011, compared with runner-up Pittsburgh’s 0.6 percent growth.

Going from a record of 10-6 in 2010 to 2-14 in 2011, Indianapolis, the home of the Colts, saw a 19.8 percent decrease in home sales.

Eight of the nine cities with a team that had attendance rates of 100 percent or more in 2011 saw average home sales prices rise that year.

The biggest surprise?

“I guess for me, that it played out exactly as we thought,” said Thorne, a Packers fan.

As for Tebow, after he was drafted by Denver in April 2010, that city’s home value index.

grew 1.46 percent. Since he was traded to the New York Jets in March 2012, New York City has seen its home value index grow 3.87 percent.

“There are 73 million other factors that impact New York,” Thorne said. “But we’re ascribing them to Tim Tebow.”

via articles.chicagotribune.com

Bundle Services to Save Big | Mount Kisco Realtor

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In these tough economic times, perhaps you’re thinking about bundling some of your household services? And rightly so — it’s easy, convenient and could save you, well, a bundle.

Telecom services

You can typically get a discount on your phone, Internet and cable services when you bundle all three with one provider (which is why 1 in 3 surveyed Consumer Reports readers do it) and sign a one- or two-year contract, but you always need price it out individually, a la carte, just in case. To find out which company is offering the best service bundle in your area, go to lowermybills.com.

Banking services

As you are fully aware, many financial institutions are tacking fees on formerly free checking accounts. One way around this is to bundle: Sign up for other services that banks offer — such as direct deposit, online bill pay, etc. Having multiple accounts with one bank — and having a lot of money in them, combined (!) — is another way to dodge those pesky fees.

Insurance policies

Many insurance companies offer discounts if you buy at least two policies from them. Bundle your home and car policies, for example (a typical combination), and you could save as much as 25 percent.

Moving services

Did you see our recent study on moving habits? Among other interesting factoids: A whopping 21 percent of all movers spend $10,000 or more as result of their move! Not only is the process of moving expensive, but moving also drives surprise purchases — from electronics to cars! One way to save is to bundle. For example, some storage companies will provide you with a complimentary move if you’re storing with them for a certain number of months (and there may even be room for negotiation if you don’t meet their minimum monthly requirements, but you have to ask). That’s easily a $400-$500 discount.

via zillow.com

Robert De Niro sells West Village house | Mount Kisco NY Real Estate

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De Niro finally completed the sale on a West Village house this week – one year after first putting it on the market. Raphael De Niro, that is, Robert’s Elliman broker son, who managed his father’s property sale for him.

The actor, famous for his roles in The Godfather, Heat and, more recently, Meet the Fockers, originally put the five-storey Italianate home up for sale in July 2011 with an asking price of $14 million.

De Niro owned the property for over 30 years, according to its listing, which describes the home as in need of “full renovation”. Built in 1852, the house “neighbours some of the most historically rich properties in Manhattan”, adds the listing, describing it as “a rare instance of a true blank canvas, ready to be transformed with your vision and architect”.

Whether buyers were put off by the state of the building or the hefty asking price is still unclear – De Niro certainly did not listen to TheMoveChannel.com’s podcast “Why Is My House Not Selling?” – but the heavily-reduced final price of $9.5 million was an offer the new owner couldn’t refuse.

via themovechannel.com

2012 Commercial Member Profile Highlights | Mount Kisco Real Estate

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The Commercial Member Profile was released on Wednesday, May 23rd.

  • The Profile showed increased transaction sides among members to 7 in 2011 from 5 in 2010.
  • Members reported increased transaction sales volume of $2,010,500 among members who performed sales activity in 2011.
  • The typical dollar value of a sales transaction was $414,300 and the typical square feet was 9,600 for commercial members in 2011.
  • For more information on the Commercial Member Profile and to read the press release, click here.

via economistsoutlook.blogs.realtor.org

Mount Kisco Real Estate | A Good Experience

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A Good Experience

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My wife, Nina, and I recently had the wonderful experience of spending 2-1/2 weeks in New Zealand. It was a good trip, partly because Nina is a very good travel planner and had put together an itinerary that had us in 11 accommodations in 19 days. She did a ton of research. I drove 2000 miles on the left side of the road. On the trip we met many fine folks and saw incredible scenery. And on and on.

Toward the end of our trip we were in the lower part of the south island. We were staying in Te Anu, from where we were going to travel to Milford Sound. Milford Sound is a fjord that opens to the Tasman Sea. We were told it had dramatic vistas and that the ride there was a bit exciting.

We had done some “exciting” driving throughout the trip (ask Nina about the Whanganui River Road) so the prospect of more did not seem too daunting. However, it was three hours of driving to where the boat we were to get on was located, two hours of touring Milford Sound on the boat, and then 2-1/2 hours back. To really enjoy what there was to see on the drive it did make sense to take a coach (bus) instead of driving. So we did.

When we got on the coach, our driver, Adele, modeled behavior that reminded me of what a good remodeler does with her clients before and during the project. Here is some of what Adele did:

Set Clear Expectations
Early in our trip Adele introduced herself and laid out some ground rules. There were a number of places we could stop but the actual amount of the stops was dependent on how long it took for everyone to get off, walk around, and then get back on the coach at the early stops. So she set us up as her partners in how well the journey would go.
     Remodelers often do not set clear expectations. And even when they do a remodeler often does not have the client take on enough responsibility for making the project a success. What Adele did made the whole experience better for her and for all of the passengers.

Remind Everyone about the Expectations
Several times throughout the trip Adele would set us up for what was going to happen at the next stop and what we needed to do when we returned to the coach. Doing it more than once and making everything appropriate to where we were in the journey made it harder for people who don’t pay attention — like me — to hear what she was communicating.
     When a remodeling project has started, and the remodeler and her staff have already reviewed expectations with the client, there is the tendency for those interacting with the client to think, “Oh, they must know everything so we don’t have to repeat any of what we told them.” Wrong. Life happens and your clients are so distracted by other things. Do remind your clients of the expectations, modified to fit the current status of the project. They will love you for doing so.

When the Clients Screw Up, Just Roll With it
Before we got off the coach to get on the boat Adele set us up for getting back to and on the bus after the boat ride. She pointed out all the cars and other coaches in the parking lot and said we would be able to make our return journey much faster if we were able to leave before all those folks did. So the goal was to get right on the coach when we got off the boat.
     The way it played out was the boat ride took longer. It did because we saw dolphins on the trip in and the trip back, which the boat captain stayed with as long as he could so we could take photos and enjoy the site.
     When the bus actually took off we were behind two coaches and a couple of MRBs (“mobile road blocks”, in Adele-speak, otherwise known as tourist-driven-rental-cars). The upshot was the trip took longer.
     However, Adele never complained to us. She just dealt with it. Keep in mind that before the bus had arrived in Te Anu that morning, Adele had started off from Queenstown, two hours away. And she was to continue back to Queenstown after dropping us off in Te Anu. And she was going to do all this the next day — and so on.
     Remodelers often make plans that depend on the behavior of others, like their clients. When clients’ behavior does not go the way you want it to, it is imperative that you don’t blame them and just carry on with your head up, dealing with things the way they are, not the way you wish they were.

It Was A Great Trip
We did have a fantastic ride on the coach. It had a glass ceiling and the views during the ride were stunning. I would have been frustrated if I had driven. And it was finally good to simply be able to enjoy the ride.
     Adele took a lot off my back. Think about how you can do that for your clients and turn the chore of getting a remodeling project done together into a good experience for everyone.

via remodeling.hw.net