How current events impact your business and real estate holdings

Monday, May 02, 2011

Learn to be a Landlord

Did you know that Suffolk County has an entire Chapter of Laws concerning the rental of property?

These laws regulate such things as the minimum terms of a written lease (1 year unless waived by the tenant); requirements if the property is in foreclosure (notice to tenants within 5 days of service); social service recipients (landlords data collected by DSS) and criminal (misdemeanors) and civil penalties (3x actual damages).

The key is to remember that multiple levels of government may regulate the same thing, a landlord must look not only to their Town or Village for laws, but also to their County, State and Federal Government for the laws to make money without violation.

Keep posted to & this blog to learn when our first continuing education class on the Long Island Landlord will be offered.

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