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Old 11-12-2013, 08:33 AM
 
241 posts, read 46,878 times
Reputation: 59
Default House with basement apartment

Hi everyone,

I recently purchased a home which as a basment apartment. Kitchen, bedroom, bath, etc. My question is, what would be the best way to find a tenant as I want to minimize the risk of having landlord/tenant issues. Would you stay away from craigslist? Perhaps I post in Newsday?
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Old 11-12-2013, 08:44 AM
 
79 posts, read 52,110 times
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Since all basement apartments are illegal, your greater risk comes from your neighbors turning you in to the town and the fine and expense to take out stove and whatever code violations they find. It's not an if. It will happen, only you'll never know who did it or why you pissed them off. Maybe your visitor parked in "their" spot on the street accidentally or your leaves blew on their lawn. Trust me, someone will turn you in, it's just a matter of time.
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Old 11-12-2013, 08:56 AM
 
241 posts, read 46,878 times
Reputation: 59
Quote:
Originally Posted by Frank Coe View Post
Since all basement apartments are illegal, your greater risk comes from your neighbors turning you in to the town and the fine and expense to take out stove and whatever code violations they find. It's not an if. It will happen, only you'll never know who did it or why you pissed them off. Maybe your visitor parked in "their" spot on the street accidentally or your leaves blew on their lawn. Trust me, someone will turn you in, it's just a matter of time.
Not really looking for the risk factor, but more on the lines on where to find the best candidates. Do you have any input?
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Old 11-12-2013, 09:08 AM
 
513 posts, read 316,185 times
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Quote:
Originally Posted by dubutante1000 View Post
Not really looking for the risk factor, but more on the lines on where to find the best candidates. Do you have any input?
If you live near any places where a lot of people work, like a hospital or a college, you might see if you could post a listing on a bulletin board (a real board, not a digital one) at that location or even in a nearby supermarket if they have a board. You might still have tenant issues but you will have an idea about their background.
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Old 11-12-2013, 09:15 AM
 
79 posts, read 52,110 times
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Agree with Martinjsxx with the caveat of having a parent sign lease for any college students. I rented a legal accessory apt to college students (against my better judgement) and had to go after the parents to pay for the inevitable damage. If you're near a hospital, nurses/interns can be a better option. Tell us what you're near for more specific answers.
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Old 11-12-2013, 09:19 AM
Status: "Dont have a High School Mentality" (set 15 days ago)
 
Location: Planet Earth
1,474 posts, read 962,706 times
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Is the house listed as a 2 family? Do you plan on paying taxes on the extra apartment? Are you going to report the income to the IRS? I bet the answer is no to all 3 questions.
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Old 11-12-2013, 09:29 AM
 
Location: Not where I want to be
4,181 posts, read 2,697,428 times
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Quote:
Originally Posted by dubutante1000 View Post
Hi everyone,

I recently purchased a home which as a basment apartment. Kitchen, bedroom, bath, etc. My question is, what would be the best way to find a tenant as I want to minimize the risk of having landlord/tenant issues. Would you stay away from craigslist? Perhaps I post in Newsday?

1. Make sure the apartment is legal and you have a CO for it.

2. Decide what type of tenant you want (student, single working person, older person, etc) and go to a broker and have them find someone. Putting an ad anywhere is only going to get you tons and tons of calls and it will take you a while to weed out the ones you don't want.
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Old 11-12-2013, 09:33 AM
 
79 posts, read 52,110 times
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Reputable brokers (if that's not an oxymoron) will not list an illegal apt.
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Old 11-12-2013, 09:40 AM
 
120 posts, read 64,061 times
Reputation: 69
MrBitterness, how about you mind your own business? By renting out a part of the house, living in LI becomes more affordable to people who will be paying the 6 figure teacher, police, and garbagemen salaries. By renting out, a student, nurse or teacher gets to live in LI and pay taxes that support this expensive town of our's.

Even the counties have held off on inforcing illegal apartment actions because doing so drives people out of LI and considering the job losses in NYC and the resulting loss of taxpayers in LI, that's the last thing we need.
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Old 11-12-2013, 09:51 AM
 
71 posts, read 38,387 times
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Quote:
Originally Posted by shera11375 View Post
MrBitterness, how about you mind your own business? By renting out a part of the house, living in LI becomes more affordable to people who will be paying the 6 figure teacher, police, and garbagemen salaries. By renting out, a student, nurse or teacher gets to live in LI and pay taxes that support this expensive town of our's.

Even the counties have held off on inforcing illegal apartment actions because doing so drives people out of LI and considering the job losses in NYC and the resulting loss of taxpayers in LI, that's the last thing we need.
Don't know what town you live in but, the Town of Babylon is at your door step at the drop of a dime when it comes to illegal apartment reports.
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