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Do peole rent around rosedale is kind my question. Reason I ask is because I would be just above water if i dont have a tenant with the mortgage
If you need their rent to survive I'd advice against it. Private owner come on here all the time with problem tenants and issues costing them a lot of money and time.
If your going to be come a landlord you need to be able to deal with whatever may come your way.
Last edited by livingsinglenyc; 05-28-2016 at 08:59 PM..
Correct, having a tenant is not always a good thing, there are many headaches and legal issues that can likely happen. You should not buy a property that you "Need" a tenant in order to afford. You should be able to pay the mortgage with or without a tenant.
Rental laws in NYC heavily favor the tenant, if this tenant knows how to game the system, they will live rent free (on a technicality) for a long time and you cannot legally kick them out. Educate yourself fully before taking on this endeavor.
Correct, having a tenant is not always a good thing, there are many headaches and legal issues that can likely happen. You should not buy a property that you "Need" a tenant in order to afford. You should be able to pay the mortgage with or without a tenant.
Rental laws in NYC heavily favor the tenant, if this tenant knows how to game the system, they will live rent free (on a technicality) for a long time and you cannot legally kick them out. Educate yourself fully before taking on this endeavor.
Yeah in his case I'd only rent it out to friends or family, or as an airbnb
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