Beyond giving renters a leg-up in their search, Rugen Realty will also be a powerful asset when negotiating terms with future landlords. Our persistent negotiating tactics can sometimes convince landlords to reduce their rent price, update items within the apartment or possibly include certain utilities in the monthly rent. We are well versed in presenting lackluster financials like inconsistent income or poor credit to landlords.
How does the Housing Stability and Tenant Protection Act of 2019 affect apartment rentals?
Recently, New York State has instituted a number of policy changes affecting all residential apartment rentals. What are some of the changes?
- Under no circumstances can a landlord charge more than one month security to a tenant. This includes pet fees or requiring additional security for pets
- Application fees are not allowed. A tenant may be required to pay a fee to a company for a credit/background check. That fee charged to the tenant is capped at $20.
- Late fees are capped to the lesser of $50 or 5% of the monthly rent.
- As a part of Act, tenants were barred from being required to pay a Broker Fee. However, a New York judge temporarily blocked this portion of the law and a formal ruling is expected in the near future. At present, a tenant may still be charged a Broker Fee.
In accordance with all Fair Housing laws, Rugen Realty agrees to:
– Provide equal professional service without regard to the race, color, religion, gender, disability, familial status, age, citizenship status, sexual orientation, occupation, lawful source of income, marital status, partnership status, gender identity or national origin of any prospective client, customer, or of the residents of any community.
– Keep informed about fair housing law and practices, improving our clients’ and customers’ opportunities and our business.
– Develop advertising that indicates that everyone is welcome and no one is excluded;, expanding our client’s and customer’s opportunities to view, buy, or lease property.
– Inform our clients and customers about their rights and responsibilities under the fair housing laws by providing brochures and other information.
– Document our efforts to provide professional service, which will assist us in becoming a more responsive and successful REALTORS®.
– Refuse to tolerate non-compliance.
– Learn about those who are different from us, and celebrate those differences.
– Take a positive approach to fair housing practices and aspire to follow the spirit as well as the letter of the law.
– Develop and implement fair housing practices for the firm to carry out the spirit of this declaration.