The world of a landlord isn’t as simple as it is often made out to be on TV and in pop culture – especially when it comes to being a landlord in NYC. When it comes to life as a landlord, there is a lot more to it than just collecting rent checks from tenants. In fact, a quality landlord is one who has a strong awareness of the principles of landlord-tenant law or someone who utilizes the services of a landlord-tenant lawyer, like Queens attorney Mr. Ryan J. Walsh, Esq. In addition, a successful landlord is one who knows how to sell and negotiate and broker deals with people of differing backgrounds and personalities, and someone who can solve problems fast and efficiently and without causing too much of a commotion. So before you decide to use that extra savings on getting a rental property of your own, here are 3 important things for every landlord to consider the job.
· Being a Landlord is a 24-7 Job or It Can Be
The thing about being a landlord, whether you work for yourself or for a real estate company or the building itself, is that problems and issues can arise at any moment of the day. And in order to be a successful landlord, you must be ready to handle any issues that may arise at any time of the day. Sure, most days will likely go off without a hitch, but there are a ton of obligations you will have as a landlord, and other days can have you doing everything from plunging toilets to meeting with your landlord-tenant lawyer to go over an eviction. Think of all the problems you might have in your home, and now multiply those issues with the number of tenants you have.
· Landlord is a Do Everything Kinda Job
The thing about being a landlord is that its kind of the worst job description as it involves so much, it is almost impossible to encompass everything you may be asked to do in even the course of a few weeks. While these responsibilities can change based on what the specific scenario is with you being a landlord, and what kind of landlord. On any given day you can be a real estate agent, salesman, police officer, mediator, dog catcher, debt collector, handyman, and much more. Depending on the situation you might be in, however, it is possible to delegate these tasks to others like a building handyman, a realtor, and a landlord-tenant lawyer.
· Rules & Guidelines
The thing about pop culture and TV shows is that they sometimes show the life of a landlord as one of lawlessness and doing whatever you want – evicting people when you want, raising the rent at your leisure. This could not be farther from the truth, the fact is that most every landlord in the US, especially in NYC must follow a number of different rules and laws designed to protect both landlords and tenants alike. This is another reason why it’s important to have the guidance of a landlord-tenant lawyer like Queen’s attorney, Ryan J. Walsh. They will guide you on certain laws like:
o Fair Housing Laws
o Housing Safety Codes
o Landlord Tenant Rights
o Eviction Rights
o Security Deposits
The life of a landlord is very rewarding and when you are the real estate investor and property owner, it can be tremendously rewarding financially, as well. For more information on what it takes to be a landlord or landlord-tenant rights, contact Queens attorney, Ryan J. Walsh, Esq. today.