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October 14th FFREIA Meeting – How to Profit In Tax Forclosure Auctions

October 13, 2010 by in Events, Free Resources, Landlord Tips
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Rochester has some great organizations for landlords, real estate investors and rental property managers to meet and share knowledge.  The Freedom First Real Estate Investors Association, or FFREIA, is focused on sharing best practices among Rochester’s real estate investor community.

Come to the FFREIA meeting on October 14, 2010 and learn how FFREIA members Matt Scherb and Steven King tap into the tax foreclosure market, and how they can help you build a real estate portfolio at a fraction of the usual investment cost. One of the biggest tax sales auctions is coming up soon at the end of October, so attending this meeting could be perfect timing for you to learn and profit from this profit-making investment area.

How To Find Great Properties And Make Big Profits In Tax Auctions

Where:  Monroe Voiture 111 at 933 University Avenue

Date:  Thursday October 14th, 2010

Time:  Presentation starts at 7:00pm

But no less importantly Matt has developed a search criteria that minimizes the risk and maximizes the return as he invests. He’s shared this strategy with other real estate investors who have successfully bid on properties for their own portfolios. Now they too enjoy significant passive income from their investments.

Matt Scherb  is a Canadian national who focuses one-hundred percent of his real estate activity in the United States. He has attended numerous Western New York auctions, primarily in Rochester & Buffalo, and secured properties for, literally, pennies on the dollar. During the last few years Matt’s auction purchases have never exceeded $7,000, and he has purchased single family homes for as little as $3000 and duplexes for $4,800.

Come to the FFREIA meeting on Oct 14th and find out how you can do it too!

…Read more on the FFREIA website.

Free Landlord Forms from The Rochester Housing Council

September 24, 2010 by in Free Resources, Landlord Tips, Legal Forms
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The majority of the apartments in America are owned by individuals who manage less than 5 units.  Many of these people don’t identify themselves as landlords, and generally don’t have office staff, standard procedures or documentation.  As part of our commitment to continually improve the professionalism of renters and landlords, we are always on the look-out for helpful tools and tips.  One of the most important parts of owning and managing property is using and recording proper documentation.  That’s why we’re happy to introduce Rochester, NY’s rental property owners to the Housing Council and their library of professional templates.

Rocehster housing council The Housing Council in the Monroe County Area, Inc. is a 501 (c)(3) not-for-profit corporation founded in 1971 to advocate for the development of housing opportunities for low and moderate-income persons residing in Monroe County, NY.  Since its founding, The Housing Council has expanded its services to provide comprehensive housing counseling focusing on home ownership, mortgage default resolution, tenant and landlord issues, mobility counseling and fair housing education and outreach.

Their site provides links to a number of professional document templates for property owners and managers to use.  They offer Operating Rental Property, Landlord’s Guide to Eviction, Eviction forms and a Judgement form for a modest fee.  But be sure to check out all the free forms they provide as well.  Click on any of the forms to go to the Housing Council’s download page, or you can purchase Housing Council publications by calling 585-546-3700.

  • Renovate Right pdf (English) (1.66 Mb)
  • Renovate Right pdf (Spanish) (1.49 Mb)
  • Lead Booklet (English) (1.04 Mb)
  • Lead Booklet (Spanish) (695.79 Kb)
  • Lead Disclosure Form (English) (167.87 Kb)
  • Lead Disclosure Form (Spanish) (168.36 Kb)
  • Lease (Sample) (81.93 Kb)
  • Notice of Lease Default (28.45 Kb)
  • Notice of Lease/Tenancy Termination (28.08 Kb)
  • Notice of Non-Renewal (22.79 Kb)
  • Notice of Rent Increase (25.84 Kb)
  • Notice to Entering Dwelling Unit (38.51 Kb)
  • Rent Demand (3 days notice) (40.46 Kb)
  • Rent Demand (3 days notice) Interactive Form (99.44 Kb)
  • Rental Application (31.48 Kb)
  • Security Deposit (185.63 Kb)
  • Unit Inspection Form (23.55 Kb)
  • Notice of Non-Renewal Interactive Form (103.00 Kb)
  • Know of any other great resources like this?  Be sure to let us, and your fellow rental property managers know!

    Tenant Rights and Responsibilities in Rochester, NY

    September 22, 2010 by in Free Resources, Renter Tips
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    Whether you’re looking for your first apartment, or you’ve been renting for years, odds are you’re not aware of your rights and responsibilities as a renter.  Fortunately, our friends at the The Housing Council of Monroe County have compiled a document that renters can read online, or pick up at their offices at 75 College Ave, Suite 412.

    Across Monroe County, roughly one third of all households are rental.  When you look at the city proper, 60% of Rochester’s 100,000 households are rentals.  For all those renters, the ‘Tenant Rights & Responsibilities‘ guide is a must have resource for making sure that you’re getting the most out of your renting experience.  In fact, there is even a hot-line you can call with your renting questions at 585-546-3700.

    Here’s a few tips and resources from the guide:

    • For month-to-month contracts, under New York State Real Property Law 232-b, proper notice to terminate a lease is a one-month notice, corresponding to the rent due date.  No reason for terminating the agreement needs to be given by landlord or tenant.
    • All rental agreements, written or verbal, are binding once entered by a tenant and landlord.  There is no grace period to withdraw.  If you agree to rent an apartment and change your mind, the landlord can hold you liable for their losses, which can include losing your security deposit.
    • If severe code violations exist such as serious heating, plumbing or electrical problems, severe fire or health hazards or lack of basic services in the dwelling, a tenant can terminate their rental agreement even if there is a written lease.
    • Landlords can rent an apartment without appliances (stove and refrigerator) provided that they make it clear to the tenants applying for the apartment that they will have to furnish their own.  If landlords supply appliances, they have a duty to keep them in good working order.
    • Most landlord-tenant disputes over deposits arise over the issue of damages versus normal wear and tear.  A landlord can deduct from the deposit actual cost of damages including labor costs.  If a tenant leaves an apartment unclean the cost of cleaning can be deducted.
    • Landlords have a limited right of access to a tenant’s apartment.  The only exception to this is an emergency, during which, a landlord may enter randomly without notice.  In all other situations a landlord must work out a mutually agreeable time to enter, and provide at least a 24-hour heads up.
    • Any self-help eviction by a landlord without a court order is illegal.  Changing the locks, removing a tenant’s possessions, shutting off the utilities to force a tenant out etc. are criminal acts under New York State Real Property Law 235.
    • A landlord has no legal obligation to supply a tenant with off-street parking, storage space, use of a garage, use of yard and common areas, snow removal, garbage cans or garbage pickup.  If you live in a dwelling with two or fewer units a landlord can require you to perform basic outside maintenance such as cutting the grass.

    Familiarizing yourself with your rights and responsibilities will make you a better tenant and save you a lot of aggravation and expense as a renter.  Since the majority of apartments in the Rochester, NY metro are owned by private individuals, renters should share this guide with their landlords to make sure they’re aware too.  Being a landlord is often a part  time job for the property owner, and it can be difficult for them to be on top of all the rights and rules.

    Help us professionalize the Rochester rental market by forwarding this article to others who may need it.