Property owners have the right to challenge the Department of Finance’s assessments and correct erroneous information associated with their properties. The following forms should be used: Based on the situation that you explained to us (legal 3 family being taxed as a 4 family), our suggestion would be for you to file a Request for Review […]
Registering a property with the NYC Department of Housing Preservation and Development (HPD) and the Division of Housing and Community Renewal (DHCR) is essential for certain NYC property owners, especially those with multi-unit buildings. Here’s a step-by-step guide to help you navigate the registration process. Step 1: Determine If Registration Is Required HPD Registration DHCR […]
As we approach the end of 2024, it’s the perfect time for NYC homeowners to evaluate their tax strategies for 2025. Homeownership offers a wealth of tax benefits, and being informed can help you maximize savings while staying compliant with tax laws. Below is a comprehensive list of key homeowner tax benefits, deductions, and considerations […]
Capital improvements on a residential home that are tax-deductible or can increase the cost basis of your home (which can help reduce capital gains taxes when you sell) are generally significant upgrades that add value, prolong the home’s useful life, or adapt it to new uses. While the improvements themselves are not typically tax-deductible in […]
Here’s a comprehensive guide tailored for Queens and NYC homeowners to maximize their tax benefits, deductions, and credits in 2025. This includes federal, state, and local opportunities, with a focus on savings available through smart home improvements, property usage, and energy-efficiency upgrades. 1. Maximize Deductions on Home-Related Expenses While direct deductions for home improvements are […]
Being a landlord in New York City comes with its unique set of challenges and rewards. With its diverse population and competitive rental market, NYC demands landlords who are not only business-savvy but also empathetic and proactive. From our experience as local Queens realtors, we’ve observed that the landlords who face the least issues are […]
Hi all, hope you’re all doing well! Below is this month’s edition of our Queens Homeowner Newsletter. In this month’s edition we cover recent changes to the Property Condition Disclosure Act, some information about squatters rights in New York, and some information on the recent NAR settlement regarding real estate agent commissions. A lot of […]
Owning property in Queens can be a lucrative investment, but it also comes with risks, especially for absentee homeowners. One of the most concerning risks is the possibility of squatters illegally occupying your property and potentially gaining legal rights to it. Squatter situations can be costly, time-consuming, and emotionally draining to resolve. However, with proactive […]
For homeowners in Queens, New York, understanding the value of your property is essential for various reasons. Whether you’re considering selling, refinancing, or merely curious about your home’s worth, getting an appraisal or home valuation is a crucial step. The good news is that there are ways to obtain a home appraisal or valuation in […]
Hi all, as always we’re publishing our latest roundup of articles, content, and information which we believe are specifically relevant to NYC Homeowners. This month includes a forensic study of NYC by the Chairman of Market and Investment Strategy for JP Morgan, a nice primer on Reverse Mortgages from the team at KPP Financial, a […]
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