Chris Oliver, Spokesperson at Hauseit®

More time to pay & file taxes at all levels, halt on evictions, foreclosures and forbearance on mortgage payments. Virtual alternatives to showings & more.

What Home Buyers and Sellers Can Do During the Coronavirus Shutdown

By Chris Oliver, Spokesperson at Hauseit® / March 24, 2020 March 24, 2020

Dear friends and valued customers, these are challenging times for all of us. Effective as of 8pm on Sunday March 22nd, 2020, all non-essential gatherings of individuals are prohibited until further notice per Governor Cuomo’s executive order New York State …

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od cause eviction legislation being considered by New York legislators would cap annual rent increases in NYC to 3% and require landlords to renew leases.

How Will Good Cause Eviction Change NYC Real Estate?

By Chris Oliver, Spokesperson at Hauseit® / March 19, 2020 March 25, 2020

Legislators in Albany, New York have recently been working on ‘Good Cause Eviction’ legislation (Senate Bill S2892B) which, if passed into law, would cap annual rent increases in NYC to 3% for all apartment types (including market rate units) and …

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Borrowers who need a seller financed mortgage will typically default greater than 50% of the time. Pros, cons & tax implications of owner financed deals.

Is a Seller Financed Mortgage a Good Idea?

By Chris Oliver, Spokesperson at Hauseit® / March 18, 2020 March 18, 2020

No. Seller financing is a great way to end up in the poorhouse for both sellers and buyers. Buyers who need seller financing typically can't qualify for a conventional mortgage because they're not financially qualified. As a result, you can …

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Make visitors wear booties over shoes at open houses; use power of attorney to avoid closings & more tips for staying safe during the Coronavirus pandemic.

How Sellers and Buyers Can Stay Safe During the Coronavirus Pandemic

By Chris Oliver, Spokesperson at Hauseit® / March 16, 2020 March 26, 2020

At Hauseit, we fully realize that it's not possible for many buyers and sellers to simply put a hold on their lives due to the Coronavirus crisis, and that showings and open houses will need to continue to be held. …

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The average rental broker fee in NYC is one month rent or 15% of the annual rent. The amount of the rental broker commission in New York City varies by listing.

What Is the Average Rental Broker Fee in NYC?

By Chris Oliver, Spokesperson at Hauseit® / March 14, 2020 March 15, 2020

Rental broker fees in NYC are notoriously high. The most common rental broker fees in NYC are one month of rent (8.33% of annual rent) or 15% of the annual rent. The amount of the rental broker fee depends on …

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A classic six apartment consists of 6 rooms: master bedroom, 2nd bedroom, living room, dining room, kitchen & a maid's room. Often seen in upper Manhattan.

What Is a Classic Six Apartment in NYC?

By Chris Oliver, Spokesperson at Hauseit® / March 13, 2020 March 13, 2020

A classic six is a pre-war apartment with six main rooms including a master bedroom, a second bedroom, a living room, a kitchen, a dining room and a smaller's maid's bedroom. Classic 6 apartments are relatively rare, and can be …

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Real estate brokerages don't hire employees due to statutory carve-outs, the ease of hiring an independent contractor & because commissions attract talent.

Why Real Estate Brokerages Don’t Hire Employees

By Chris Oliver, Spokesperson at Hauseit® / March 10, 2020 March 10, 2020

Real estate brokerages generally never hire real estate agents as employees because of the extremely onerous process and additional cost involved with hiring an employee vs an independent contractor. Furthermore, federal and state legislatures both recognize the unique nature of …

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The wet over dry rule isn't a law or building department code, but is widely seen in co-op and condo alteration agreements. Nuances, exceptions & more.

The Wet Over Dry Rule and Ways Around It

By Chris Oliver, Spokesperson at Hauseit® / March 5, 2020 March 5, 2020

The wet-over-dry rule prevents apartment owners from moving wet spaces such as bathrooms and kitchens over dry spaces such as living rooms on floors below. The rule helps prevent water damage as well as mitigate water damage when leaks do …

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While typically no different vs a normal co-op purchase, buyers should pay special attention to the flip tax, and whether different rates apply for them.

Guide to Buying a Former Mitchell-Lama Co-op in NYC

By Chris Oliver, Spokesperson at Hauseit® / February 28, 2020 March 17, 2020

Buying a former Mitchell-Lama co-op that has since been privatized is typically no harder than buying a normal co-op apartment, with the exception that you should take special care to make sure that any special flip taxes levied against pre-privatization …

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Most co-op buildings in NYC raise maintenance fees by 3% to 5% annually which is in line with inflation and annual increases in NYC real estate taxes.

How Often Do Co-op Maintenance Fees Increase in NYC?

By Chris Oliver, Spokesperson at Hauseit® / February 27, 2020 March 26, 2020

Most co-op buildings in NYC raise their monthly maintenance fees by 3% to 5% per year which is in line with general inflation as well as annual increases in NYC real estate taxes. Unlike for condos, co-op buildings pay real …

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