How to get a tenant buy out - Brooklynian

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How to get a tenant buy out

Have you decided that exit is your best strategy?

You want to understand how landlords are thinking.

https://drive.google.com/file/d/0B5sBmuNPvUflSzBMTEtYRWtpaGZjYlI4NmQwQmloVlNQVnBv/view?pli=1

Comments

  • edited May 2015
    Frightening. Where'd you'd dig this "gem" up from?
  • I like games of strategy, and watching each side fully excercise their rights.

    It is unfortunate that the tenant advocates lack the resources to create similar resources for tenants that would help those who have decided not "to stay and fight", to get the largest buyout.

  • I read the first section and where the authors are talking about how to get a tenant out creatively they're talking about tenant #2. They already figured #1 would take the buy out. By the way...I'd like to smack both the authors because obviously they don't give a crap about people except the ones who bought this book or hire their firm.
  • Reading further it seems the rest of the pamphlet is more about eviction for non-payment of rent than buy out which was only the first few pages so this whole thing is somewhat mistitled. Basically it's just a way to get people out for whatever reason.
  • edited May 2015
    I suspect they used the "getting tenants to accept a buyout" title because that is often the easiest route for a landlord (LL) to take against a tenant.

    A buyout is easier than going to court against a non paying tenant, because a LL is unlikely to be able to recoup lost rent and will lose MORE rent while pursuing a legal eviction.

    As a result, buyouts are not just used when a LL wants to renovate a unit or put in a tenant that pays a higher rent; they are often used when a LL simply wants to replace a tenant with one who will pay the same rent as the prior one was SUPPOSED to pay.

  • As a renter who lives on Long Island and has rented in two family homes I've had to move twice in the last 11 years. First time because the landlord was having his daughter and her family move in and the second time because the landlord died and the wife decided to sell the house. I never asked for a buy out but what pissed me off was that in both times I told them I wouldn't pay the last month's rent because they had my security deposit which they seemed to have forgotten and had no doubt spent the day after I gave it to them. In both times I was out within 30 days.
  • edited May 2015
    I suspect that you are of a class that cares about (or is able to maintain) a good credit rating.

    ...Those who fill Housing Court usually do not share that characteristic.

    They move frequently. They have periods in which they rely on public assistance.

    By presenting the landlord's point of view, the handbook could provide such tenants the insight needed to get the maximum buyout from a landlord.

  • Or, if the tenants lack the literacy and savvy required, the handbook could help an enterprising educated advocate for said tenants.

    S/he would get a cut of the proceeds while enduring accusations of of "preying on the poor" from those who don't realize that the tenants would be even worse off without said assistance.
  • And...on page 31...the next to the last line....it should read..."the landlord and ME" not the landlord and I. And lawyers think they know everything.
  • I don't believe I have the time today to make fun of lawyers to the degree they deserve.
  • In the three places wife and I have lived since 2003 I never had my credit rating checked once though according to last month's Discover bill it was 803.
  • edited May 2015
    Did your new landlord call your prior landlord?

    I wonder if tenants receiving a buyout could make acceptance of the buyout someohow contingent upon receiving a letter that stated they left in good standing.

  • New landlords never called the last ones because in the first instance we went in with a check that he cashed two weeks before we moved in and in the second the landlord was dead and we gave the real estate agent $2000 cash and the new landlord a check for $4000 which he cashed before we moved in. I don't think they were worried about me not being able to pay.
  • edited May 2015
    Yes, those amounts likely allayed his fears that he would not be paid. He probably also asked you what you do for a living. By doing so, he reduced his risks.

    What makes me shake my head is people who believe that landlords like to go through the process of evicting tenants. I perceive them doing it only when buyouts and other methods do not work.

    Landlords like to be paid. Landlords like to get the most for their property that they can.

    ....landlords do not like spending time in housing court.

    Someone who is behind on their rent, or knows that they will soon face harassment because the market surrounding their apartment has changed, should put a lot of thought into whether their best move is to rely on the court system to protect them or get the best buy out possible.

    What is the best course of action really depends upon the individual.
  • Am I mistaken or has the author started referring to to tenant #2 as Tenant # 1 starting on page 7? Here he calls the rent stabilized tenant #1! Watch out for this lawyer!
  • @dawndew -
    I haven't read it at the level of that detail, but would agree that many lawyers are not Supreme Court material,

    With that said, housing court lawyers still have advantages. Tenants being evicted rarely have their own lawyers, often do not have a lot of formal education and know how to excercise their rights.

    http://www.nytimes.com/2014/12/17/nyregion/push-to-provide-lawyers-in-new-york-city-housing-court-gains-momentum.html?_r=0

    So, until this situation changes, getting the highest buyout possible may be what best suits their individual needs.

    It is difficult because in working with tenants in this situation, one should not impose a viewpoint on them.

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