Articles

Articles from George Russo Associates

Purchasing a Second Home in Queens, Brooklyn or New York City – Part 2/4

*** Previous *** Don’t Count on Identical Tax Credits as With Your First Home Talk to the IRS to determine what the tax implications of a second home are. For a lot of people the tax costs involved with owning … Continue reading

Posted in Home Ownership |

Purchasing a Second Home in Queens, Brooklyn or New York City – Part 1/4

There are so many reasons why someone might decide to purchase a second home: perhaps you’re looking to achieve rental income or you’re searching for a vacation getaway. Maybe you’d like to purchase a fixer-upper for your retirement years, or … Continue reading

Posted in Home Ownership |

Subletting Your New York City Apartment – Part 2

*** Previous *** Preparing your New York Apartment for Subletting Relocate or store all your valuables: you don’t want to spend your time away worrying about your prized possessions being stolen, damaged or lost. Maintain a spotless apartment. Remember that … Continue reading

Posted in Advice and Tips |

Subletting Your New York City Apartment – Part 1

When most people think ‘New York’ they think of small spaces with very high rents. That’s why renters who know they’re going to be out of town for weeks or even months shudder just thinking about the wasted rent money … Continue reading

Posted in Advice and Tips |

Checking a Tenant’s Background in Brooklyn – Part 2

*** Previous *** Complete the Application Process If the interview goes well and you believe you’d be satisfied having this person as a tenant, ask the potential tenant to fill out an application to rent. The application form will include … Continue reading

Posted in Home Ownership |

Checking a Tenant’s Background in Brooklyn – Part 1

As a landlord it’s very important that you check the background of any potential tenant. Knowing a tenant’s background will assist the landlord in detecting any potential issues, prior to signing a lease.  If it turns out that a tenant … Continue reading

Posted in Home Ownership |

Commercial Leases: Negotiating a Tenant-Friendly Lease in New York – Part 4

*** Previous *** Tenant Allowance is an amount of money paid to the Lessee by the Lessor; used to finalize construction and completion of the lease area. Determine the insurance responsibilities of both the Lessor and the Lessee. Maintenance of … Continue reading

Posted in Advice and Tips |

Commercial Leases: Negotiating a Tenant-Friendly Lease in New York – Part 3

*** Previous *** Write and Submit an LOI (Letter of Intent) for Your Lease The Letter of Intent can be a daunting task for someone with no prior experience, so please contact George Russo and Associates for legal advice and … Continue reading

Posted in Advice and Tips |

Commercial Leases: Negotiating a Tenant-Friendly Lease in New York – Part 2

*** Previous *** Clause No. 8 Covers real estate tax charges. Clause No. 9 In the event of disagreements, this clause covers attorney fees obligations. Clause No. 10 This covers compliance with ordinance and statutes. Clause No. 11 Clarifies assignment … Continue reading

Posted in Advice and Tips |

Commercial Leases: Negotiating a Tenant-Friendly Lease in New York – Part 1

In general, most people understand leases for residential property and the way they work. However, commercial leases are an entirely different matter, and if you’re not familiar with them they can seem quite daunting for a new commercial tenant. Commercial … Continue reading

Posted in Advice and Tips |