Hudson Valley REIA

For tenants and landlords alike, understanding the rules and regulations governing their relationships can ensure smoother interactions and prevent potential conflicts. This article provides a broad overview of New York State’s Tenant and Landlord Law.

1. Security Deposits:

• Limit and Return: Landlords in New York State can demand up to one month’s rent as a security deposit. This deposit must be returned to the tenant within 14 days of termination of the lease, along with an itemized statement if any part of the deposit is withheld.
• Separate Account: Landlords who own buildings with six or more units must put security deposits in a New York-based interest-bearing bank account. Tenants have the right to either receive this interest annually or to apply it as a credit towards rent.

2. Lease and Rent:

• Rent Control: Some parts of New York, particularly New York City, have rent control or rent stabilization programs in place, limiting how much a landlord can increase the rent and guaranteeing the right of tenants to renew their lease.
• Rent Increase: For month-to-month tenants in areas without rent control, landlords can raise the rent after providing at least 30 days’ written notice.

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Your credit report contains vital information about your financial history, including the credit accounts you hold, your payment history, and other related data. It’s essential to review this report periodically to ensure all the information is accurate and to detect any possible signs of identity theft or fraud. Fortunately, laws mandate that you’re entitled to one free credit report every year from each of the major credit reporting agencies. Here’s a step-by-step guide on how to obtain yours.

Step 1: Understand Your Rights

• In the U.S., the Fair Credit Reporting Act (FCRA) requires each of the major credit reporting agencies—Equifax, Experian, and TransUnion—to provide consumers with a free copy of their credit report once every 12 months.
• You’re also entitled to a free report if:
  • You’re unemployed and planning to seek employment within 60 days.
  • You’re on welfare.
  • Your report has been updated due to adverse actions stemming from information it contained.

Step 2: Go to the Official Website

• For U.S. residents, the only official website authorized to distribute the free annual credit reports is AnnualCreditReport.com. Beware of imposte
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“Every task, goal, race and year comes to an end…therefore, make it a habit to FINISH STRONG.”
― Gary Ryan Blair.

It’s that time of year again when we come together to celebrate and express our gratitude for the incredible community that supports the Real Estate Investing Community in the Hudson Valley. We are excited to invite you to our yearly tradition, a special event dedicated to all those who contribute to the success of our region.

We are delighted to announce our joint Year-End Celebration on December 13th at Mahoney’s Irish Pub & Steakhouse. This event promises to be a night of celebrating, reflection, and connection, and we want you to be a part of it.

Meeting Host
Hudson Valley Real Estate Investors Association entire Team
Meetup.com host Eric Helboc
Meetup.com host Bob Reinhart
…more will be added.

Meeting Details:

LOCATION: Mahoney’s Irish Pub & Steakhouse
Date: Wednesday, December 13, 2023
Time: 6:00PM
Cost: $20 for Members $25 non-members (with online registration)
At Door $ 30.00

After registering, you will receive a confirmation email containing information about joining the meeting.

Our June in-person meeting was a resounding success, featuring Rob Bowen, the Owner and President of Patriotic Insurance Group, as our guest speaker. Rob provided invaluable insights into the complexities of insurance for real estate investors.

Rob Bowen’s presentation was an eye-opener for many attendees, providing a deeper understanding of the nuances of property insurance. We thank Rob for sharing his expertise and helping our members make more informed decisions.

TIP: We have put together a property insurance checklist for members to use. Download it here https://hv-reia.com/product/property-insurance-checklist/

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Rain or shine our members always show up! We had another fantastic in-person networking meeting for the month of July. Former HV-REIA Member Siobhan Brosnan returned back to reconnect with us and shared her experience in property management with our members and how effective property management can help you escalate your business to the next level!

See below for quick recap of our July’s Meeting:

July meeting quick recap/highlights:

Mini-Workshop on DealCheck – Big shouts to Ulises Marmol for an excellent presentation)
Meeting was kick-off with a mini-work on Deal Analyzing with DealCheck. Ulises demonstrated how to run a cash-flow analysis with a property pulled directly from the live market! Due to the high level of interest, we will be organizing a few more of these workshops in the coming months. For those interested in leaning more about DealCheck, we’ve arranged a special referral link for HV-REIA members. You can use the link below to sign up and start optimizing your deal analyses:

Benefits of using DealCheck:

* Analyze up to 15 properties fast and easy for FREE. (Pro version starts at $10.00 – very affordable)
* Comprehensive Analysis Tools (tools helps you calculate cashflow, ROI, CAP Rates all automatically)
* Create PDF Export of your properties. Ideal for sharing it with business partners.

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At the Hudson Valley Real Estate Investors Association (HV-REIA), we don’t just invest in properties—we invest in people. Through the Women In Real Estate Alliance (W.I.R.E.), our mission is to create spaces where women empower each other to lead, learn, and leverage every opportunity in the world of real estate.

Our latest W.I.R.E. event, held virtually on July 30th, was another powerful example of that mission in action.

While our fearless W.I.R.E. leader Yaritza Ruiz was enjoying some well-earned personal time, the community didn’t skip a beat. Cristina Colón stepped up and took the reins, hosting the meeting. Her leadership helped guide a dynamic conversation that inspired everyone in the (virtual) room.

Benefits of obtaining your Real Estate License
Women in HV-REIA are not just buying and selling—they’re building legacies. And more women are recognizing that obtaining a real estate license can be a game-changer.

It allows you to:
+Represent yourself in deals
+Access the MLS and market data directly
+Earn commissions on purchases and sales
+Build a referral network
+Add a flexible income stream to your real estate business

Rita White and Pam Becker, Licensed Associate Real Estate Agents with Keller Williams, presented the sponsorship opportunity to HV-REIA Members to obtain the required 77-hour training at NO COST.

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