Buying in NYC Archives

What is the Right of First Refusal in real estate? How does a Right of First Refusal work in NYC and is it ever used? What does a sample waiver look like?

How Does a Right of First Refusal Work in NYC Real Estate?

By Sonja Gosine, Spokesperson at Hauseit® / September 24, 2022 September 27, 2022

A Right of First Refusal is a typical procedure in a Condominium's By-Laws which allows the condominium corporation to purchase an apartment at the same terms as a prospective buyer who has already signed a contract to purchase a unit. …

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Pros of living in a doorman building in NYC include security and convenience. Cons include less privacy, added cost, more rules and potential conflict.

What Are the Pros and Cons of Living in a Doorman Building In NYC?

By Sonja Gosine, Spokesperson at Hauseit® / September 22, 2022 September 22, 2022

Pros: Security Convenience Problem resolution Better maintenance of common areas Cons: Higher carrying costs Less privacy Risk of conflict Onerous and selective rule enforcement

There is a limit to how often you can sublet your rent stabilized apartment in NYC, and you cannot make a profit.

How to Legally Sublet a Rent Stabilized Apartment in NYC

By Sonja Gosine, Spokesperson at Hauseit® / September 6, 2022 September 6, 2022

It’s legal for you to sublet your rent stabilized apartment in NYC provided you adhere to specific rules and procedures. There is a limit to how often you can sublet, and you’re prohibited from charging the subletter more than what …

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Tenants of unregulated, free-market apartments in NYC have several automatic rights and protections.

What Rights Do Free Market Tenants Have In NYC?

By Sonja Gosine, Spokesperson at Hauseit® / August 31, 2022 August 31, 2022

Tenants of unregulated, free-market apartments in NYC have several automatic rights and protections which we outline in this article. These include the rights to sublet and to have a roommate, limitations on the size of security deposits, protections under the …

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Rent security deposits in NYC are capped at 1 month of rent. Landlords are required to return security deposits within 14 days of moving out.

NYC Rent Security Deposit Laws

By Sonja Gosine, Spokesperson at Hauseit® / August 31, 2022 August 31, 2022

Rent security deposits in NYC and in New York State are capped at one month of rent according to the Housing Stability and Tenant Protection Act of 2019. This limitation does not apply to seasonal rentals of 120 days or …

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The warranty of habitability obligates your NYC landlord to keep your apartment safe, clean and fit for human habitation.

What Is the Warranty of Habitability in NYC Real Estate?

By Sonja Gosine, Spokesperson at Hauseit® / August 30, 2022 August 30, 2022

The warranty of habitability is a set of legal protections for renters in NYC which obligates your landlord to keep your apartment safe, clean and in a condition which is “fit for human habitation” at all times. These obligations also …

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The SoHo Artist-in-Residence (A.I.R.) allows certified artists to live in former commercial buildings in SoHo and NoHo which were zoned for non-residential use.

What Is the SoHo Artist-In-Residence Law in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / August 22, 2022 September 19, 2022

The SoHo Artist-in-Residence (A.I.R.) Law was enacted in 1971 to allow artists to legally live in former commercial buildings in SoHo and NoHo which were zoned for manufacturing. At the time, these neighborhoods were a haven for artists, but existing …

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Rent stabilized NYC apartments offer tenants several protections including limitations on annual rent increases and the right to renew.

What is a Rent Stabilized Apartment in NYC Real Estate?

By Sonja Gosine, Spokesperson at Hauseit® / August 19, 2022 August 19, 2022

Rent stabilized NYC apartments offer tenants several protections including limitations on annual rent increases and the right to renew with few exceptions. Allowable annual rent increases for rent-stabilized units are set each year by the New York City Rent Guidelines …

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There is no way to lease a rent controlled NYC apartment unless you are a qualifying family member of an existing rent controlled tenant.

What is a Rent Controlled Apartment in NYC Real Estate?

By Sonja Gosine, Spokesperson at Hauseit® / August 16, 2022 August 19, 2022

A rent controlled apartment is the holy grail of affordable housing in NYC. If you’ve ever heard about someone who pays just a few hundred dollars a month for a prime NYC apartment, chances are that it’s a rent controlled …

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A market value rider increases the amount of your home's title insurance protection up to the fair market value of the property. It can be purchased at closing.

What Is a Market Value Rider in NYC Real Estate?

By Sonja Gosine, Spokesperson at Hauseit® / August 15, 2022 August 15, 2022

A Market Value Rider (MVR) increases the amount of title insurance protection on your property in New York and NYC. Without the addition of a market value rider, a traditional title insurance policy will only provide coverage up to your …

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