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Who do you know looking to buy or sell real estate?

how much do real estate agentsmake

In the ever-evolving world of real estate, it is crucial to have a reliable network of potential buyers and sellers. Whether you are a seasoned investor or a first-time homebuyer, knowing the right people can make all the difference. This review aims to shed light on the importance of building connections in the US real estate market and explores effective strategies for finding prospective buyers and sellers. So, who do you know looking to buy or sell real estate?

Finding Potential Buyers:

  1. Leverage Social Media: With the rise of social media platforms, networking has become more accessible than ever. Utilize platforms like Facebook, Instagram, and LinkedIn to connect with potential buyers. Join local real estate groups, engage in discussions, and showcase your expertise to attract interested parties.

  2. Attend Real Estate Events: Networking events, seminars, and conferences are excellent opportunities to meet like-minded individuals and expand your network. These events often attract serious buyers and sellers who are actively seeking real estate opportunities. By attending, you can establish connections and generate leads.

  3. Collaborate with Local Businesses: Partnering with local businesses can be mutually beneficial. For instance, reach out to mortgage brokers

Investors wishing to amass wealth and derive income from their real estate investments should consider holding real estate for the long term. They can use the equity built into the portfolio to finance other investment opportunities, with the potential of eventually selling the properties in an up-market.

How to avoid paying capital gains tax on investment property?

A few options to legally avoid paying capital gains tax on investment property include buying your property with a retirement account, converting the property from an investment property to a primary residence, utilizing tax harvesting, and using Section 1031 of the IRS code for deferring taxes.

What is the 1 rule in real estate investing?

For a potential investment to pass the 1% rule, its monthly rent must be equal to or no less than 1% of the purchase price. If you want to buy an investment property, the 1% rule can be a helpful tool for finding the right property to achieve your investment goals.

Is real estate investing a good idea right now?

As a result of the Federal Reserve's quick interest rate rises, housing prices are shifting down from their 2020-2021 peaks. Investors in rental properties continue to enjoy historically low and reasonable interest rates. Real estate is a long-term investment with a favorable long-term prognosis for current investors.

How long should you hold an investment?

Though there is no ideal time for holding stock, you should stay invested for at least 1-1.5 years. If you see the stock price of your share booming, you will have the question of how long do you have to hold stock? Remember, if it is zooming today, what will be its price after ten years?

How does an apartment become destabilized in NYC?

With the current rent laws, destabilization (also called vacancy decontrol) may happen when a rent-stabilized apartment's monthly rent exceeds $2,700 while the apartment is vacant.

Does rent stabilization expire NYC?

In particular, because of the tax benefit, rental apartments are often subject to rent stabilization, usually also only for a certain time period. This section of the law is enacted for a few years at a time and then expires, unless renewed.

Frequently Asked Questions

What happens when a rent stabilized tenant dies NYC?

A family member has the right to a rent stabilized renewal lease in their name, or protection from eviction in an apartment under rent control, if he, she or they resided in the apartment as a primary resident with the tenant for two years immediately before the death or permanent departure of the tenant.

How long does a licensee have to notify the DBPR about any address changes?

Within 10 calendar days Change of Address Requirements Florida statute says that real estate licensees must notify the State of Florida Department of Business and Professional Regulation, in writing, of an address change within 10 calendar days of the change.

When a salesperson changes employment from one broker to another?

When a salesperson changes employment from one broker to another, the former employing broker must notify the DRE in writing . The former broker must return the salesperson's license certificate to the DRE within 3 days. New employing broker must notify DRE within five days of accepting the salesperson.

How is Compass different from other brokerages?

Compass is a real estate brokerage, but at its core, it's a tech company. Compass has invested heavily in creating an end-to-end, all-in-one platform that makes the job of a real estate agent as easy as possible.

Why is Compass real estate losing money?

Revenue decreased by 26% year-over-year to $1.5 billion as transactions declined 19% driven by macroeconomic factors, combined with a decrease in the price of the average Compass transaction which was in part attributable to a shift in mix involving fewer sales in high-end markets like California.

Is Compass the number one brokerage in the US?

We are thrilled to share that as of the end of 2021, Compass is now the largest brokerage in the United States in terms of closed sales volume (RealTrends 3/16/22). Why this matters to you. We can confidently say that our referral network is officially the best in the United States.

What is the outlook for Compass real estate?

Compass Inc (NYSE:COMP) The 8 analysts offering 12-month price forecasts for Compass Inc have a median target of 3.75, with a high estimate of 6.00 and a low estimate of 2.00. The median estimate represents a +82.93% increase from the last price of 2.05.

Where is Compass HQ?

United StatesCompass, Inc. / Headquarters

Who owns Compass?

Compass, Inc.
Engineering Hub in Seattle
OwnerSoftBank Vision Fund (30.1%) Robert Reffkin (2.1%)
Number of employees3,191 (2022)
Websitecompass.com
Footnotes / references

What is the difference between Compass and Zillow?

As we discussed at length in our post on best sublet websites, the main difference between Compass and Zillow is that Compass is a single brokerage firm with many agents and offices, but Zillow is a listings aggregation portal, showcasing inventory and offerings from thousands of different brokerage firms.

What does Compass USA do?

In selected markets, we have unparalleled experience in providing food and hospitality services at some of the world's most prestigious venues. With our Safety First culture as the foundation of all that we do, we deliver healthy, nutritious food as well as lifestyle and support services.

What software does Compass real estate use?

They use solutions such as Redshift, Snowflake, Tableau, and Looker to support their data needs. Compass uses their vast amounts of data not only to power real estate deals through their customer-facing products, but to shape the future of the products themselves.

Who founded Compass real estate?

Robert ReffkinCompass, Inc. / FounderRobert L. Reffkin is an American entrepreneur who co-founded the online real estate brokerage Compass, Inc. and serves as the company's CEO. Wikipedia

Who owns the company Compass?

Compass, Inc.
Engineering Hub in Seattle
OwnerSoftBank Vision Fund (30.1%) Robert Reffkin (2.1%)
Number of employees3,191 (2022)
Websitecompass.com
Footnotes / references

What CRM does Compass real estate use?

We've built the platform for your contacts. And your deal. So you can make every client feel like your own plan. It's called compass CRM.

Who created compass app?

The Compass app is created by Tobii Dynavox, the industry leader in helping connect lives through communication. This version of Compass includes the premium PODD pageset.

How does a rent stabilized apartment become deregulated NYC?

There are a couple of situations in which a rent stabilized apartment may be subject to deregulation upon vacancy: Apartments under rent stabilization because the owner receives J-51 or 421-a tax benefits may become deregulated upon vacancy (or sooner if the owner follows the appropriate notice requirements).

What is the threshold for rent stabilization deregulation in NYC?

Between June 19, 1997 and June 23, 2011 the DRT was $2000. Between June 24, 2011 and June 14, 2015 the DRT was $2500. Between July 1, 1998 and June 30, 2011 the DIT income was $175,000. Between July 1, 2011 and present the DIT is $200,000.

How can a rent stabilized tenant be removed NYC?

A landlord can only evict a rent-stabilized tenant under limited circumstances. These include non-payment of rent, violations of the lease, and causing substantial disturbance to neighbors. Additionally, a landlord can decline lease renewal if he or she plans to use the apartment for his or her family.

Can you sell a rent stabilized apartment in NYC?

They also have the right to renew their leases, and cannot be kicked out. However, once the rent stabilized tenant moves out, the apartment can either a) be sold; or b) be rented without the protections of rent stabilization.

Who is the CEO of Compass real estate?

Founder & CEO Robert Reffkin founded Compass in 2012, drawing inspiration from his mother, Ruth, a longtime real estate agent. Under his leadership, Compass ascended to become the country's #1 real estate brokerage in the United States, achieving half a trillion dollars in real estate sales.

Will Compass ever be profitable?

Compass says it's on the path to profitability. The first quarter of 2023 was yet another unprofitable quarter for real estate brokerage Compass. But despite a 31% annual decrease in revenue to $957 million, firm executives were optimistic about the future of Compass.

How much money has Compass real estate lost?

Compass CEO Robert Reffkin did not mince words Tuesday evening when he told investors and analysts listening to the firm's fourth-quarter earnings call that 2022 was a “very difficult year.”

Why is Compass stock dropping?

Shares of Compass (COMP 3.43%) were falling today after the real estate brokerage posted disappointing results in its second-quarter earnings report, missing estimates on the top and bottom lines and showing its turnaround efforts were running out of steam. As of 1:54 p.m. ET on Tuesday, shares were down 8.2%.

How do you know when to sell real estate?

Signs that the seller's market is doing well can include an increase in price per square foot of real estate in your area, properties getting snatched up fast, more for sale signs up in your neighborhood, and perhaps the best indication of all, is if your neighbors with homes similar to yours just sold their houses for

FAQ

Who buys the most real estate?
However, even in such a challenging market, first-time homebuyers were able to beat back competition from swarms of millennials, cash-rich investors, and baby boomers looking to downsize, and purchase about a third of all of the homes for sale, according to the National Association of Realtors® annual Home Buyers and
What are the three most important things in real estate?
To achieve those goals, the three most important words in real estate are not Location, Location, Location, but Price, Condition, Availability. Let's look at the first word – Price.
What is the best month to sell a house 2023?
According to Realtor.com's research, listing your home the week of April 16 through April 22, 2023, is the best timing for a successful sale. Realtor.com even predicts that listing your home between April 16 and April 22 could get you $48,000 more for your home than you'd get if you listed it at the start of the year.
What is the best month to sell a house?
Bottom Line: The Best and Worst Month To Sell a Home June is usually the best month to sell a house. It's when you're most likely to reach the most potential buyers and get a price above market value. As a result, on average nationwide, June has one of the highest median sale prices and the most sales overall.
What causes a house to come back on the market?
Financing Issues A majority of homebuyers are buying a home with a mortgage and do not have sufficient cash to be able to cover the purchase of a home. If the buyer's mortgage application is denied for some reason then the home cannot be purchased and usually will be put on the market again.
What does it mean when a house is reactivated?
Reactivated (RACT*): A listing that was previously showing Contingent, Pending or Temporarily No Showings. The Reactivated status will show on connectMLS for five days (unless an additional status change is made to the listing) and then revert to an Active status. Available for showings.
How long is bad for a house to be on the market?
Be willing to negotiate the price so your home doesn't stay on the market too long. The longer your home is on the market, the less attractive it becomes. Potential buyers start to wonder what is wrong with the house and why it hasn't sold. Most real estate agents consider a listing stale after 90 days.
Why do some homes sell faster than others?
Pricing: One of the most crucial factors is the price of the house. If a property is priced competitively based on its market value, it is more likely to attract potential buyers and sell quickly. Overpricing can deter buyers, while underpricing may raise questions about the property's condition or desirability.
Is it bad if a house goes back on the market?
Not every back on the market listing is a good deal, but the situation itself suggests an opportunity is present for a new buyer. Think about it, a homeowner thought they had somebody for their home so they probably went ahead and made plans for themselves. If they found a new home, did they put it under contract?
What is CMPS designation?
Generate Higher-Quality Referrals, Close More Loans from Financial Advisors, and Grow Your Mortgage Business as a Certified Mortgage Planning Specialist (CMPS®).
Who owns CMPs?
Largest shareholders include ARKG - ARK Genomic Revolution ETF, ARK Investment Management LLC, Agf Management Ltd, Deep Track Capital, LP, Barclays Plc, Nikko Asset Management Americas, Inc., Sumitomo Mitsui Trust Holdings, Inc., Founders Fund VII Management, LLC, BlackRock Inc., and IBB - iShares Nasdaq Biotechnology
What kind of company is CMPs?
Company Information COMPASS Pathways plc is a United Kingdom-based mental healthcare company. The Company is developing psilocybin therapy through late-stage clinical trials in Europe and North America for patients with treatment-resistant depression (TRD).
What kind of company is CMPS?
Company Information COMPASS Pathways plc is a United Kingdom-based mental healthcare company. The Company is developing psilocybin therapy through late-stage clinical trials in Europe and North America for patients with treatment-resistant depression (TRD).
Is CMPS a buy?
According to 6 stock analysts, the average 12-month stock price forecast for CMPS stock stock is $47, which predicts an increase of 731.86%. The lowest target is $19 and the highest is $120. On average, analysts rate CMPS stock stock as a strong buy.
How to combine apartments in NYC?
To combine two apartments into one in NYC, you will need to hire an architect to design the apartment combination and file for permits with the NYC Department of Buildings. In most cases, the architect will file an Alteration Type 2 application with the NYC DOB as per TPPN #3/97.
How can a rent stabilized apartment become destabilized NYC?
Your rent-stabilized apartment can never be destabilized: 2019 rent laws ensure that your landlord can never take away your protections by taking your apartment out of stabilization.
How much does it cost to combine two apartments in NYC?
On average, combining two units in NYC will cost anywhere between $50 – $200 per square foot, depending on various factors. For instance, structural changes like wall removal can make home renovation more expensive. You should also take into consideration the professional services you'll need for the project.
What is a combination apartment?
A combined apartment is combining two or more apartments in the same building into one apartment. The timing doesn't always work, but if a single tenant is living in a building and an adjacent unit becomes available, combining apartments and creating one unit from two units might be possible.
Are real estate prices dropping in San Francisco?
The average San Francisco home value is down 11.5% over the past year, and 13.2% from its peak, according to Zillow. In many housing markets across the country, home prices are still hovering around their pandemic peak despite mortgage rates that are pushing two-decade highs—but San Francisco is not one of them.
Is it a good time to sell a house in San Francisco?
Traditionally, spring and summer are prime selling seasons and the best time to list a house for the fastest sale, in San Francisco or anywhere.
Are Bay Area home prices set to keep falling in 2023?
In a Zillow Home Price Expectations Survey polling economists and housing experts, respondents predicted housing prices to fall 1.6% through December 2023. The culprit, they said, is a lack of affordability and high mortgage rates driving down demand.
Is this a good time to buy real estate in San Francisco?
Housing prices are lower than the pandemic real estate boom as the S&P 500/Case-Shiller San Francisco Home Price Index indicates the local market peaked in May 2022. It's possible that prices can dip lower if local economic conditions deteriorate, but it appears that prices are beginning to level out.
Will home prices drop in 2024 Bay Area?
California's median home price is forecast to climb 6.2 percent to $860,300 in 2024, following a projected 1.5 percent decrease to $810,000 in 2023 from 2022's $822,300. Housing affordability* is expected to remain flat at 17 percent next year from a projected 17 percent in 2023.
Which of the following developers would not be required to register with the Colorado real estate commission?
Which of the following developers would NOT be required to register with the Colorado Real Estate Commission? The answer is a developer who is establishing 100 campsites for large RVs. The requirement is for 20 or more residential units; campsites are excluded from registration.
Which requirement is one of the essential elements of a valid real estate contract?
The contract must be in writing and there must be an offer and an acceptance of said offer. In order for a real estate contract to be enforceable by law, it is required to be in writing. 2. The contract must have mutual assent and legal purpose.

Who do you know looking to buy or sell real estate?

Which subdivision of 20 or more interests in real estate must register with the Colorado real estate commission? Required Subdivision Developer Registration Types Any division of real property into twenty (20) or more interests intended solely for residential use, with each interest comprising thirty-five (35) or more acres of land offered for sale, lease or transfer.
Which person requires a Florida real estate license quizlet? Which person requires a Florida real estate license? A person who helps a client locate and purchase property in Florida, who receives compensation for those services requires a Florida real estate license.
Which would be required to register as a subdivision with the Colorado real estate commission? Explanation: Subdividing any residential property into 20 or more units for sale, transfer, lease or timeshares must be registered with the Colorado Real Estate Commission.
Can you inherit a rent controlled apartment in NYC? There are specific rules about who may succeed a rent controlled apartment. In general, for rent controlled apartments throughout New York State, any “family member” of the tenant may have the right to protection from eviction when the tenant dies or permanently leaves the apartment.
What are the rights of rent stabilized tenants in NYC? Rent stabilization provides protections to tenants besides limitations on the amount of rent increases. Tenants are entitled to receive required services, to have their leases renewed, and may not be evicted except on grounds allowed by law. Leases may be renewed for a term of one or two years, at the tenant's choice.
What is Compass real estate CRM? It's called compass CRM. And it empowers you with artificial intelligence bringing all of your contacts together on a single platform organizing them into groups.
Is now a good time to sell a house in San Diego? Is San Diego a Seller's Market Right Now? San Diego's housing market has shown characteristics of a seller's market, especially in the single-family home segment. The year-over-year increase of 8.2% in median sold prices suggests strong demand and limited supply, which is typical of a seller's market.
Should I sell now or wait until 2024? Fannie Mae predicts that mortgage rates will go even higher in 2024. The skyrocketing mortgage rates can discourage buyers from buying new homes. So, you should list your house for sale now to sell it faster and get the best price.
Is San Diego a sellers market right now? Sale-to-list price ratio: 100% Homes in San Diego, CA sold for approximately the asking price on average in September 2023. San Diego, CA is a seller's market in September 2023, which means that there are more people looking to buy than there are homes available.
How long are houses staying on the market in San Diego? San Diego is one of the most competitive and expensive real estate markets in the country, according to Redfin, with most homes selling within 12 days of their listing this year. This year so far, over 5,500 homes have been sold in the San Diego metro area.
How long do most houses stay on the market? After your home is listed, your real estate agent can schedule showings and greet potential buyers when they visit the property. Although the average home sits on the market for about 22 days, it could take more time or less before you accept an offer. The days on market can also depend on when you list your home.
Can you break a rent stabilized lease in NYC? By the rent stabilization law, enforced by the DHCR. A lease is a contract between a landlord and a tenant, containing the terms and conditions of the rental. It cannot be changed while it is in effect unless both parties agree.
Why are so many people selling their homes? Financial reasons for moving include wanting a nicer home, moving to a newer home to avoid making repairs on the old one, or cashing in on existing equity. People move for personal reasons as well; you might relocate for a new job or to be closer to family, or you might simply want a new house to fix up and flip.
Why do so many people want to buy a house? The Desire To Become A Homeowner Most of us will, at some time in our lives, desire to have a place of our own where we can put down roots and not deal with landlords and rent increases ever again.
Will 2023 be a good time to buy a house? According to C.A.R.'s monthly Consumer Housing Sentiment Index, in April 2023, 59% of consumers said it was a good time to sell, up from 55% the previous. Only about 25% feel it is a good time to buy a home, unchanged from last year.
Are home prices dropping in MN? Minnesota housing market overview But despite this decline in overall activity, housing prices are still rising across the state. With that said, there are big differences within the local housing markets around Minnesota, according to July 2023 data from Minnesota Realtors.
What makes a house harder to sell? Factors that make a home unsellable "are the ones that cannot be changed: location, low ceilings, difficult floor plan that cannot be easily modified, poor architecture," Robin Kencel of The Robin Kencel Group at Compass in Connecticut, who sells homes between $500,000 and $28 million, told Business Insider.
Can I get kicked out of rent stabilized apartment NYC? Under the Rent Stabilization Law, an owner may begin an eviction proceeding when the current lease expires, but only after the tenant is given written notice that the lease will not be renewed.
What do arbitration hearing panels do? Hear this out loudPauseArbitration Hearing Panels are called on to resolve contractual questions, not to determine whether the law or the Code of Ethics has been violated.
What is the hearing process in arbitration? Hear this out loudPauseHearing Stage: During this stage, the parties present their case to the arbitrator. This process can take place in person, over the telephone, or by the parties submitting written documents. The parties' arbitration agreement and the applicable Rules that govern the case will dictate the process.
Who presents first in an arbitration hearing? Hear this out loudPauseIn most cases, the party that started the arbitration initially by filing a claim will present their case first and the opposing party will then have an opportunity to present their defense, but the arbitrator will ultimately decide the order.
What is the difference between arbitration and hearing? Hear this out loudPauseCompared to a regular trial, arbitration is intended to be an easier, quicker, and less expensive way to resolve disputes. At the arbitration hearing, each side has the opportunity to tell his or her side of the story and to present witnesses and documents.
What are the three stages of arbitration? To give you an idea of the process that arbitration typically involves, the American Arbitration Association describes artibtration as having five main steps:
  • Filing and initiation.
  • Arbitrator selection.
  • Preliminary hearing.
  • Information exchange and preparation.
  • Hearings.
  • Post hearing submissions.
  • Award.
What to do if your house is too expensive? 1. Sell and downsize. These days, home values are up on a national level. If you're sitting on a home you can't afford, you may be able to sell it, pay off your current mortgage, and then buy a smaller or less expensive home -- one your income can more easily handle.
  • How much house can I afford if I make $70,000 a year?
    • If you're an aspiring homeowner, you may be asking yourself, “I make $70,000 a year: how much house can I afford?” If you make $70K a year, you can likely afford a home between $290,000 and $360,000*. That's a monthly house payment between $2,000 and $2,500 a month, depending on your personal finances.
  • Will Gen Z be able to afford houses?
    • Only 1.9% of Gen Zers feel current interest rates are keeping them from purchasing a home. 8% of Gen Zers believe they can only afford a home that's less than $200,000. Many Gen Zers are under the misconception that you have to put 20% down to qualify for a mortgage.
  • What is the 28 36 rule?
    • The 28/36 rule dictates that you spend no more than 28 percent of your gross monthly income on housing costs and no more than 36 percent on all of your debt combined, including those housing costs.
  • Who is the owner of Compass?
    • Robert Reffkin Founder & CEO Robert Reffkin founded Compass in 2012, drawing inspiration from his mother, Ruth, a longtime real estate agent. Under his leadership, Compass ascended to become the country's #1 real estate brokerage in the United States, achieving half a trillion dollars in real estate sales.
  • How old is Robert Reffkin?
    • 44 years (June 7, 1979)Robert Reffkin / Age
  • Is Compass real estate a Fortune 500?
    • Compass, a Fortune 500 company, is the largest residential real estate brokerage in the United States.
  • Who is the founder of Compass real estate?
    • Robert ReffkinCompass, Inc. / Founder
  • When did Compass real estate go public?
    • April 1, 2021 On April 1, 2021, the company became a public company via an initial public offering.
  • How do I destabilize my rent stabilized apartment in NYC?
    • Your rent-stabilized apartment can never be destabilized: 2019 rent laws ensure that your landlord can never take away your protections by taking your apartment out of stabilization. You might be able challenge the deregulation and even get a refund.
  • Can you legally sublet a rent stabilized apartment in NYC?
    • New York City law allows market-rate and rent-stabilized tenants to sublet their apartments if they live in a building with four or more units. New York City law does not allow tenants that live in multiple dwellings (3 apartments or more) to sublet apartments for less than thirty days.
  • When a broker terminates his affiliation with an employing broker what must be done?
    • When a broker terminates his affiliation with an employing broker what must be done? The broker and the employing broker have joint responsibility to assure that the real estate commission is notified.
  • What is the relationship between an employing broker and the employed licensee?
    • Despite the labels given to these employment forms, an agent or broker-associate is always an employee of the broker under both California labor law and real estate law. Thus, the broker is liable as an employer for any wrongful conduct by the agent as a function of their employment.
  • How long after completion or termination must a broker retain records and files pertaining to a transaction?
    • (a) A licensed real estate broker shall retain for three years copies of all listings, deposit receipts, canceled checks, trust records, and other documents executed by him or her or obtained by him or her in connection with any transactions for which a real estate broker license is required.
  • When a licensee transfers from the employ of one broker to another which of the following are responsible for surrendering the license to the real estate commission?
    • When a licensee transfers from the employ of one broker to another, of the following who is responsible for surrendering the license to the Real Estate Commission: A licensee and his former employing broker are jointly responsible for returning real estate licenses to the commission.
  • What's the employing broker's responsibility regarding the closing if any?
    • If closing documents and statements are prepared by, and the closing is conducted by, an employing broker's company, such broker is primarily responsible for the accuracy and completeness of the settlement statements and documents.
  • Real estate why are some homes back on market so quickly after being sold
    • Feb 11, 2023 — Do you know the most common reasons why homes come back on the market? See why some houses fail to sell and have to be re-listed.
  • Can you destabilize a rent stabilized apartment NYC?
    • In general, a landlord must offer all stabilized tenants renewal leases. They cannot simply deregulate a building.
  • How do I find out if my apartment is rent stabilized in NYC?
    • You can request your rent history to find out if your apartment is rent-regulated, or to prove that it is. To request your rent history, contact the NYS Division of Housing and Community Renewal (HCR)'s Office of Rent Administration by calling 718-739-6400 or emailing [email protected].
  • Can a landlord do renovations while occupied NYC?
    • Individual Apartment Improvements (IAIs) Typically, these improvements occur while the unit is vacant, but can also be made in occupied units with written approval from the tenant.
  • How do I break a rent stabilized lease in NYC?
    • Sign a rent-stabilized or market-rate lease and you are bound to its terms. Unless the apartment is rendered uninhabitable because of poor conditions, your only way out would be to sign a written agreement with the landlord terminating the lease.
  • Who is the responsibility of the square footage disclosure?
    • When a Broker Advertises the square footage of a residential property, including for submission to a multiple listing service, the Broker must disclose the source of the square footage of the floor space of the living area of the residence to Consumers on the Commission-Approved Form.
  • Why is everyone joining compass real estate
    • A brokerage of unparalleled agents. As an innovative residential real estate firm, we empower our agents so they have more time for advising their clients.
  • What is the deregulation threshold for 2023 in NYC?
    • Market Rate Vacancy - The rent for the subject rent stabilized apartment has been lawfully raised to an amount equal to or greater than the Market Rate Threshold. The Market Rate Threshold for 2023 in New York City is $2,951.54. The last legal rent may be verified by the tenant by contacting DHCR.
  • How to combine apartments NYC?
    • To combine two apartments into one in NYC, you will need to hire an architect to design the apartment combination and file for permits with the NYC Department of Buildings. In most cases, the architect will file an Alteration Type 2 application with the NYC DOB as per TPPN #3/97.

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