As we approach the end of 2024, it’s the perfect time for NYC homeowners to evaluate their tax strategies for 2025. Homeownership offers a wealth of tax benefits, and being informed can help you maximize savings while staying compliant with tax laws. Below is a comprehensive list of key homeowner tax benefits, deductions, and considerations […]
Capital improvements on a residential home that are tax-deductible or can increase the cost basis of your home (which can help reduce capital gains taxes when you sell) are generally significant upgrades that add value, prolong the home’s useful life, or adapt it to new uses. While the improvements themselves are not typically tax-deductible in […]
Hi all, hope you’re all doing well! Below is this month’s edition of our Brooklyn Homeowner Newsletter. In this month’s edition we cover recent changes to the Property Condition Disclosure Act, some information about squatters rights in New York, and some information on the recent NAR settlement regarding real estate agent commissions. A lot of […]
For homeowners in Brooklyn, New York, understanding the value of your property is essential for various reasons. Whether you’re considering selling, refinancing, or merely curious about your home’s worth, getting an appraisal or home valuation is a crucial step. The good news is that there are ways to obtain a home appraisal or valuation in […]
Hi all, as always we’re publishing our latest roundup of articles, content, and information which we believe are specifically relevant to NYC Homeowners. This month includes a forensic study of NYC by the Chairman of Market and Investment Strategy for JP Morgan, a nice primer on Reverse Mortgages from the team at KPP Financial, a […]
A wet basement can be a Queens homeowner’s nightmare, leading to potential damage, mold growth, and compromised structural integrity. Addressing this issue promptly is crucial to prevent further problems and maintain a safe and dry living space. In this blog post, we will explore effective tips for local homeowners to dry up a wet basement […]
Information provided by: www.hcr.ny.gov A number of communities in New York State have rent regulation programs known as rent control and rent stabilization. Two aspects of rent regulation are to protect tenants in privately-owned buildings from illegal rent increases and to allow owners to maintain their buildings while realizing a reasonable profit. Rent control is the […]
Source: Housing Stability & Tenant Protection Act (HSTPA) of 2019 A preferential rent is a rent which an owner agrees to charge that is lower than the legal regulated rent that the owner could lawfully collect. Pursuant to the Housing Stability & Tenant Protection Act (HSTPA) of 2019, tenants that were paying a preferential rent as […]
Source: www.hcr.ny.gov This fact sheet will be updated annually to reflect the new lease guideline rates. It can be reviewed along with a rent registration history of an apartment to assist in determining if the apartment’s registration status and the rent being charged are lawful. The apartment rent registration history and a rent overcharge complaint form can be […]
Welcome to this month’s Brooklyn homeowner connect post. In today’s post, we share some good information on how to get rid of eyesores in your home in a cheap and easy way, and then we share a quick primer on Reverse Mortgages. Take a look and feel free to Contact Us if you have any […]
As a homeowner in Brooklyn NY, one of the most crucial responsibilities is safeguarding your property from potential damages caused by harsh winter weather. Burst water pipes can lead to costly repairs, property damage, and inconvenience. In this blog post, we will explore some essential tips to help you prevent water pipes from bursting, ensuring […]
Hi all, hope you’re having a nice start to this Summer! Below is our monthly roundup of articles, content, and resources specifically relevant to NYC Homeowners. Take a look when you have a chance and feel free to reach out if you have any questions. If you’d like to receive our monthly NYC Homeowner Newsletter in […]
Hi all, BHT here with your monthly roundup of articles and information related specifically to NYC Homeowners. Take a look and let us know if you have any questions 🙂 Con Ed Bills may be going up Soon Under a preliminary agreement between the state Department of Public Service, Con Ed and other stakeholders, the […]
The New Interborough Express + NYC Borough Presidents are ready to Build + NYC’s Prohibited Buildings List Banning Short Term Rentals goes Live + 6 NYC Market Factors to consider for Out of Town Owners The New Interborough Express Have you heard of the Interborough Express yet? In short, it’s a large transit project that […]
Quite a few of our clients are considering selling their Brooklyn houses, and if you’re in that same boat, now is a great time to do a little prep work. Here are a few home-improvement tips we recommend to get your house ready now, and sell later: 1. Embrace Spring Cleaning Now is that special […]
If you’re living in America, then you already know about the rising gas prices, rising inflation, and rising energy costs. At this point, you’ve probably already seen your utility bills come in higher than normal. We recently received an email from ConEd with some good tips on how to prepare for rising energy costs and […]
Hi all, hope you’re doing well! We just wanted to share some information that we thought you might find helpful. We’ve been monitoring the market closely and discussing several topics that affect NYC homeowners so if you are a Brooklyn homeowner, you may find this data insightful. First thing we wanted to share is a […]
Answer provided by Neil B. GarfinkelREBNY Broker CounselPartner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Question: It is my understanding that the Housing Stability and Tenant Protection Act (“HSTPA”) generally prohibits deregulation of rent stabilized apartments (meaning that a rent stabilized apartment will never become a free-market rate apartment). Does that […]
Hi Friends, hope all is well! This month we have some cool things to share with you 🙂 First, we have a good article on the difference between a basement and a cellar. If you own a home in NYC you may be calling your ground level a basement when indeed it is a cellar. […]
Answer provided by Neil B. Garfinkel, REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Answer: The Housing Stability and Tenant Protection Act of 2019 (“HSTPA”) created a specific time frame and procedure for landlords to follow when returning a tenant’s security deposit at the end of a lease […]
NYC Homeowner Connect Hi Friends ?, hope you’re doing well! This month we wanted to share a few important things with you. First is information about the Notice of Property Value for your property which you should have received in the mail this month. Second, some information related to the age old question, is now […]
If you’re an NYC homeowner, then you know that your annual Notice of Property Value (NOPV) comes out around February. In this NOPV, it indicates your property’s estimated market value and tax assessed value for the upcoming year. In the NOPV, it gives you instructions on how to challenge your assessment, if you disagree with […]
Your new house is pretty awesome, otherwise you would never have considered buying it. But, there are some things about it that are a lot more awesome than others. Take, for example, that kitchen floor. You wouldn’t say it’s ugly, but you’ve seen better design harmony in a restaurant trash bin. It’s gotta go. Your […]
Depending on where you live, the end of winter means different things. Maybe it’s the anticipation of an explosion of colorful wildflowers, or maybe it’s just a break from all the heavy, wet snow on absolutely everything. Either way, those warming days when winter starts to turn to spring are ideal for checking your roof […]
You’re a homeowner now, you can kiss bland uniformity goodbye the moment you turn your apartment keys over to your now former landlord. The world is your canvas — at least, that part of the world that you now are obligated to pay a monthly mortgage payment on — and you’re the artist that’ll mold […]
You bought your house because of the beautiful yard, the unbelievable hearth in the den, the two generous bathrooms and, of course, the enormous basement. You had big plans for that basement — it was going to be a home theater with a pool room, all very posh, but the first melt of winter had […]
In 1986, Tom Hanks starred in a movie called “The Money Pit.” It was all about a couple’s adventures in remodeling what has to be the worst house ever. Even though it was a comedy, if you’ve ever been part of a big remodel, some of the situations the co-stars find themselves in (re: the […]
All homes have quirks that require special care and consideration, but when it comes to homes with basements, it’s a whole different ball game. Instead of fighting with the light switch on the north wall, you’re trying to keep the carpet dry and catch any water long before it becomes a problem. Waterproofing the basement […]
1. Public Records and Data Research A local Brooklyn Realtor is able to compile property records with additional data to see a clear legal picture of your physical property and legally recorded documents that could affect the value. Licensed Brooklyn Real Estate Agents are able to increase their resources as well by working with other professionals […]
You’ve been a homeowner for a while now and overall, everything’s gone pretty well. Your home is a comforting, safe place that has given more than it has taken — you’re pretty happy with how that purchase has gone, really. That’s why when your friend was talking about the frightening amount of rent he’s paying […]
Where there’s smoke… If you’re like most people you don’t give your fire extinguisher a second thought… until you need it. Give yourself real peace of mind by performing a quick visual inspection, checking the pressure, and making sure that your fire extinguisher is in an accessible place should you need it in a hurry. […]
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