Methods to Prepare Your NYC Apartment For Winter

Windows and doors

Cold winds coming in through windows and doors can easily disrupt a heated apartment. Especially in older buildings, renters should ensure their windows are completely shut and all seals are intact. If cool air is coming through the windows, make sure that building management is alerted immediately so that they can repair the seal. You can also insulate windows using insulation film, available at hardware stores. Most insulation film can be stuck around the edges of the windows, preventing cold air from seeping in. Window coverings, such as drapes or blinds, can also provide an extra layer between the cold elements and the inside. 

Many older buildings also don’t have heated hallways making even the most well-insulated rooms lose heat. A quick way to solve this problem is with a draft guard, which can be purchased at most hardware stores or online for around ten dollars. You can even DIY a draft guard at home using fabric and an insulating material such as beans, rice, or kitty litter. 

Added insulation (and decoration!)

Bare wood floors are major culprits of lost heat. Rugs can help insulate a space and provide an extra layer between the warm apartment and the cold weather. Rugs also make for a soft landing spot when getting out of bed in the morning and keep bare feet away from cold floors. For best results, choose a rug with heavy, thick material. Wool rugs are considered the best material for insulating, but if the apartment has furry friends or children, a cotton rug may be more durable. For an extra layer of protection, an insulated rug pad can help keep the room warm. These rug pads come in various shapes and sizes but sometimes must be cut to fit a custom rug. Some rug pads can even function similarly to electric blankets, pumping heat into the rug and stopping once it reaches a specific temperature. Some welcome mats can also be heated, melting snow and sludge the minute you enter the front door. 

Outlets

If the windows and doors are protected from drafts, but there’s still chilly air in the apartment, it may be coming from the outlets. The National Association of Certified Home Inspectors (NACHI) recommends installing a foam gasket on the inside of the outlets to ensure air doesn’t leak outside. To test outlets, the NACHI website recommends performing a simple test – holding up an incense or smoke stick to the outlet and seeing if the smoke moves horizontally. The NACHI website also warns to ensure the smoke/flame isn’t near any flammable items such as drapes or rugs. Child safety plugs can also help winterize the outlets and prevent warm air from seeping out of the apartment. 

Humidifiers

Though a humidifier won’t physically make the temperature warmer, it can help maintain moisture in the air and make an apartment feel warmer to residents. Humid air retains warmth better than dry air and can help residents prevent wake up with a dry throat when the heat is running. Besides the financial benefits of using less energy, humidifiers also have many health benefits and can increase bodily hydration. As an electric appliance, the small motor can also add heat to a room. Humidifiers range in price and effectiveness based on how large a room they are put in, so be sure to check the product details to see what size room the humidifier is meant to serve.

Space heaters

For particularly finicky setups, a space heater can do the trick. Many New York City bathrooms lack heat or radiators, so a small space heater can help the cold tile floor feel more bearable after a hot shower. Though these space heaters will drive up electricity costs, they certainly will add comfort to cold spaces. Much like humidifiers, space heaters come in a variety of sizes and price points – for most bathrooms and bedrooms, a small space heater will do. To save on electric costs and for safety, unplug the space heater when it is not in use. 

Reverse the ceiling fan

A ceiling fan may seem like a summer staple, but it can be useful all year round. Though ceiling fans can be hard to come by in New York City, they can be great tools to save energy and conserve heat. In the warmer months, ceiling fans circulate air and push the cold air downward. Yet, reversing the ceiling fan’s direction in the winter can have the opposite effect. Most building management personnel can assist in reversing the direction of the ceiling fan upon request. The Environmental Protection Agency advises reversing the motor and operating the ceiling fan at low speed in a clockwise direction. This will cause the ceiling fan to produce a gentle updraft, forcing warm air near the ceiling into the occupied space. 

Ready for winter?

Though apartment living can present some obstacles in the way of winterization, there are certain steps renters can take to drive down their utility bills and increase their comfort in the cold winter months in New York City. Protecting from drafts with an insulation film, window drapes, rugs, and installing foam gaskets in outlets can all help to save energy and heat. Communication with your property manager or building management can ensure that they help alleviate stress and assist with winterization techniques. Even if you can’t winterize every part of your New York City apartment, taking a few small steps can save hundreds of dollars in the coming cold months. 

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What’s the Average Real Estate Agent Salary in NYC?

Unfortunately, there’s no singular answer to that question. The average real estate agent salary in NYC depends on a variety of factors, such as niche, location, years of experience, and whether you work full-time or part-time. 

Luckily, NYC is particularly favorable for real estate agents and provides plenty of opportunities. According to the Bureau of Labor Statistics, the annual average wage for real estate agents in the New York metro was $86,650 as of 2021. When compared to the national average real estate agent salary of $61,480. NYC real estate agents make a pretty good living!

How Real Estate Commissions are Split

Similar to the rest of the country, New York commissions are split between the listing agent, buyer agent, and broker with a standard commission percentage of 6% (the national norm). However, it’s not uncommon for commissions to be capped at 4-5% of the sale price on properties sold for $10 million or more. 

Listing Agent/Buyer Agent Splits: Most real estate deals in New York are “co-broke”, meaning commissions are split evenly between listing and buying agent. This means each party receives 3% of the total home sale price. Sometimes, the split could also be 4% / 2% or 3.5% / 2.5%. 

Broker/Agent Splits: The 3% commission received by each agent is then split between broker and agent at a ratio of 40/60 or 65/35. The percentage received by  the agent depends on the amount of business they bring into the brokerage. Typically, the more homes you sell, the bigger your percentage split is between you and your broker.

How the Tax Code Impacts Real Estate Agent Salaries

The vast majority of real estate agents in the U.S. are not salaried. Instead, they’re considered independent contractors. As self-employed workers, they have a higher tax burden counting towards their Medicare and Social Security contributions. The self-employed tax rate is set by the IRS and is currently 15.3%—that’s double the national tax rate of 7.65% for traditional employees. 

New York Income Tax Brackets

In addition to the federal tax, New York real estate agents also pay state income tax which is based on annual earnings. You can reference the New York State Income Tax Brackets below:

• $0 – $8,450 – 4.00%
• $8,450 – $11,650 – 4.50%
• $11,650 – $13,850 – 5.25%
• $13,850 – $21,300 – 5.90%
• $21,300 – $80,150 – 6.45%
• $80,150 – $214,000 – 6.65%
• $214,000 – $1,070,350 – 6.85%
• $1,070,350+ – 8.82%

In addition to state income tax, there’s also a city income tax. The NYC income tax lies somewhere between 2.9 and 3.8 percent. Although taxes are relatively high for real estate agents in NYC, sizable commissions and the ability to write off certain business expenses could help balance out the heavy tax burden.

Self-employed individuals have the right to deduct relevant business expenses from their tax basis. For a real estate agent, this could mean expenses such as gas, car insurance, marketing materials, annual NAR membership fees, and professional development courses. Deductions lower your taxable income, reducing your tax responsibility at the end of the year.  Remember to consider these tax implications when calculating take-home income as a real estate agent in NYC.

How Can I Maximize My Earnings as a Real Estate Agent?

The limitations on your salary as an NYC real estate agent may seem discouraging at first, but keep in mind commissions aren’t the only way agents make money! A real estate agent’s salary in NYC can be supplemented via ancillary services. 

Ancillary services offer existing clients a new service that complements a business’ primary functions. As a real estate agent, your primary business function is to help clients buy and sell homes. However, there are a few additional yet related services homebuyers and home sellers may need in the process of buying or selling a home. 

The right combination of ancillary services can provide real estate agents a considerable advantage over the competition by becoming a one-stop shop for clients. Below are examples of ancillary services savvy real estate agents can provide:

Types of Ancillary Real Estate Services 

Property Management

As real estate investors expand their property portfolios, it often becomes challenging to keep up with tenants across all rentals. Finding a reliable and trustworthy property manager is at the top of any investor’s list of priorities. 

Given the nature of their work, real estate agents could be excellent property managers. Good agents can identify physical issues on a property, have a network of contractors for repairs, and run established systems that are efficient and reliable. 

Many agents manage properties they’ve sold on behalf of their clients, such as long-term rentals or vacation rentals. If you can prove to be a reliable property management resource in your market, clients will soon start coming to you through recommendations. 

Home Staging 

The process of staging a home before putting it on the market is a crucial component of selling a property. According to Forbes, staged homes sell faster and for more money than non-staged homes. Not only do agents offering home staging services help their clients, but they can also partner with investors and even other real estate agents on a variety of projects. 

The truth is, sellers aren’t the only ones interested in staging their homes, so your home staging business can operate as a stand-alone service. Vacation rental companies, individual property investors, and agents looking to add a special touch to their listings are all potential home staging clients.

Cleaning Services

A less sexy, yet necessary task in the sale or rental of any home is deep cleaning. Commercial cleaning services are essential in today’s workplace, especially after the onset of the pandemic. They’re equally as important in the sale of a home, because sellers will have to leave the place spotless before handing over the keys. 

Cleaning is a major pain point for home sellers. By providing cleaning services to homeowners, agents remove an extra burden from the seller and facilitate the move-in process for the buyer.

What are the costs associated with being an agent in NYC?

First-year real estate agents in NYC can expect to pay between $2,000 and $2,500 to get started in the profession. Some of these expenses must be paid up-front, while others can be paid on a monthly or quarterly basis. 

A handful of these expenses are mandatory, such as the real estate course, exam fee, and salesperson application fee. Together these mandatory fees cost between $320 and $470. 

Other expenses are optional yet highly suggested, such as a membership with the local association of realtors, MLS membership, lock box fees, and increased auto insurance. If you’re in NYC, a membership to REBNY may be  Together these memberships, and additional fees cost between $1625 and $1725. 

Aspiring agents should also consider the ongoing costs of working as a real estate agent in NYC, which include continuing education, marketing materials, home staging, and other business expenses. 

Every two years, NYC real estate agents are required to complete 22.5 hours of additional instruction outside of their initial 75-hour course in order to renew their license. With 78,167 active real estate agents and realtors in New York, competition is fierce, so investing in personal marketing is necessary. 

Staging a home for sale is a crucial component of selling a property, especially with a market as competitive as this one. Business expenses such as phone bills, gas, and office supplies will vary depending on where you are located and who you work under but are also essential. 

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This guide will help you figure out the best way to get started in real estate investing, depending on your goals and your capacities.

Establish Your Real Estate Investment Portfolio Goals

Have you decided to invest in real estate? Excellent news. However, real estate investing can mean very different things to different people. There is no right or wrong way to invest in real estate – as long as the type of investment you choose to make matches your abilities and expectations. Here are some of the elements you should take into consideration when you decide to invest in real estate and some of the options you may choose depending on your priorities.

Gain Real Estate Knowledge

Real estate is a very complex subject, with many ramifications demanding specialized expertise. If you are just getting started in real estate investing and do not have any previous experience in the matter, it can be intimidating. Reality TV shows can make real estate investing seem easy and straightforward, but in real life, that is rarely the case. This does not mean that you need to become an expert before dipping your toes in the real estate investing business, but you may need to hone your skills and stay informed as you build your portfolio.

If you have little time, energy, and interest to dedicate to your quest for knowledge but still want to take advantage of the benefits of real estate investing, your best bet may be to start with managed funds, such as Real Estate Investment Trusts (REITs) for example, where you provide the funds but have limited decisions to make on a daily basis. On the other hand, if you want to dive into a real estate investment career, you will need to educate yourself on the local market, real estate laws, and any related fields so you can start more involved forms of real estate investments – such as flipping houses, renting properties, and so on.

Time Commitment For A Real Estate Investment Portfolio

Real estate is often presented as a form of passive income. Although it can, in some cases, provide predictable revenues with little input, it is not necessarily true. Any landlord can testify that renting one or multiple units is an involved job, even with the help of a property manager. Flipping properties also require a significant time commitment, although it can be alleviated with the help of a trusted local contractor and real estate agent to handle many of the daily decisions. Renting properties is typically a long-term commitment while flipping houses is more sporadic. For example, you may decide to buy, renovate, and sell a home during the slowest season in your regular job.

If you would rather take the back seat to real estate investing, the best course of action is to invest in a mutual fund, participate in a limited partnership, or join an investment group or investment trust. These forms of real estate investments require little involvement on behalf of the investors, freeing their time for their full-time jobs or other occupations.

Cost of Real Estate Investment Portfolio

Real estate is expensive: it is the main entrance barrier for many would-be investors. Besides, most forms of real estate investments are not liquid. If you are just getting started in real estate investing, the chances are that you are hesitating to freeze a significant amount of capital for several years. The good news is that most forms of investment provide regular returns, such as rental income or dividends. In addition, you can use the equity you build in a property over time by contracting a home equity loan or line of credit.

Nevertheless, you will still have to examine your finances and make sure that you have enough cash or liquid assets to cover emergencies. REITs have the advantage of being more liquid than other forms of real estate investments. They may be a good option if you are looking to build or diversify your portfolio without committing fully. You can also start building your real estate portfolio by flipping a house for a relatively rapid return on investment.

Another consideration is the amount of money you are willing to invest in this venture. If you are investing in real estate alone, buying a property – to rent and/or flip, for example – represents a significant expense. Commercial assets, in particular, are extremely expensive, and financing options are limited for investors who do not have a tracking record. If you have limited funds, you may want to look into sharing expenses with other investors. However, beware that some investing platforms are only open to accredited investors.

How To Finance Your Real Estate Portfolio

If you are wondering how to build a real estate portfolio, you are probably unsure about how to find the funds necessary to get started since real estate is one of the most expensive forms of assets. Here are some options you may want to investigate.

Leverage your primary residence

Many real estate investors start building their portfolios by using their primary residence as a steppingstone. In some cases, they may use their property to produce extra rental income. Depending on the setup and lifestyle, would-be investors could rent part of their home, either to roommates or by using short-term rental platforms like VRBO or AirBnB. If they can find other living arrangements, they can also rent out the totality of their home.

However, renting your home is not the only option for building a real estate portfolio. Since a primary residence is often the most important financial asset of a beginner investor, you can use the equity you have built in your home to finance the rest of your portfolio by contracting a second mortgage such as a cash-out refinance, home equity loan, or a home equity line of credit (HELOC). The process of buying, rehabbing, renting, refinancing, and starting again (a.k.a. BRRRR method) has become a popular form of starting and growing a real estate portfolio.

Obtain an Investor Loan

Unless you purchased your primary residence cash, you probably contracted a mortgage. However, being approved for a mortgage as an investor is a different ballgame.

Mortgage lenders consider that investment properties are riskier than houses to be used as primary residences since a homeowner encountering financial difficulties is more likely to prioritize their mortgage on their roof over their head than an income property. Therefore, you can expect more stringent requirements, including higher down payments (20% or more), higher credit score expectations, cash reserves, and so on. In addition, many mortgages with advantageous terms (government-backed loans such as FHA, USDA, or VA, for example) are not available for rental properties.

Suppose you do not qualify for investor loans through traditional lending institutions. In that case, you may also seek out hard-money lenders who, unlike banks and credit unions, take the profitability of the property to be purchased into account. It can be particularly advantageous for would-be investors interested in flipping properties since you can repay the loan a lot faster than conventional loans without penalties. On the downside, hard-money loans have significantly higher interest rates than traditional mortgages, and they also have higher origination fees and closing costs.

Find Private Money Partners

When it comes to real estate, the best way to build a portfolio is sometimes to divide and conquer. Bringing in partners also helps alleviate the risks and financial burden. Beginner investors can join a local real estate investment club to network and find other individual investors willing to pool their funds before joining a venture. The terms of the loans, repayment, and so on will vary depending on the type of deal and each party’s input.

Private money lenders do not have to be other real estate professionals: you can also present this opportunity to friends and family members. However, beware that it is best to set up a contract in case the deal goes sour, regardless of your relationship with the other party.

Defining Your Real Estate Portfolio

Seasoned investors know that it is best not to put all your eggs in the same basket. The same goes for real estate investments. When gearing up toward starting a real estate investment portfolio, it is best to establish your long- and short-term goals to protect yourself and select a strategy from the get-go.

Choosing the Best Form of Real Estate Investment

In the first two parts of this guide, we discussed establishing your priorities as a real estate investor and finding the necessary funds. It is often best to start small to avoid unnecessary risks and learn as you go, especially if you are not familiar with the industry. Here are some of the most common forms of real estate investments for beginners and their pros and cons.

• REITs: REITs are publicly traded companies that own and manage commercial properties (hotels, malls, etc.) Investors can purchase shares on a stock exchange and receive yearly dividends. It allows them to diversify their portfolio and invest in commercial real estate without the high entry costs and expertise this type of investment typically requires. In addition, REITs are relatively liquid since investors can sell their shares on the stock exchange if needed.
• House flip: Investors purchase a property in need of repair and resell them within a short time (typically a couple of months.) They may choose to update them to resell them for a profit or simply hold them if the market is increasing rapidly. Investors need to have an excellent knowledge of the local market and construction industry to stay within budget.
• Rental properties: Rental properties come in many different forms, from vacation to long-term rentals, ranging from single-family homes to large apartment communities. Rental properties allow landlords to perceive a predictable income and hold the building until it increases in value. However, being a landlord – even with the assistance of a property management company – can be very stressful and time-consuming, especially if you own multiple units.
• Commercial real estate: Commercial real estate includes any form of space rented or leased by a business. It comprises industries as varied as office buildings, malls, retail spaces, gas stations, restaurants, etc. This type of investment provides predictable incomes since the leases are typically long-term. However, they also have high entrance barriers, including higher down payments and property management expenses.
• Raw land: Investing in raw land requires an excellent knowledge of the area you are considering, including the local residential and commercial rental markets, but also the local regulations such as building codes, zoning regulations, and flood plains. Raw land gives investors a wide range of exit strategies: dividing the plot for resale, leasing it to renters, developing new construction, and even holding on to it while it appreciates. However, it can be very speculative in nature.
• Mutual funds: Real estate mutual funds are managed funds that invest primarily in REITs but also real-estate stocks and indices. They give investors access to a wider variety of assets than individual REITs and allow them to diversify their portfolios for a relatively small amount of capital.

Diversifying Your Real Estate Portfolio

You have successfully started your real estate investment portfolio – now what? It may be time to consider diversifying your investments to take full advantage of the industry’s numerous benefits, such as tax benefits.

Diversification may include other types of assets but also investing in other areas of the country. As you expand your portfolio, you may also need to learn more about additional industries related to real estate – such as law or construction, for example. You will also build a team that can guide and support you so you can take your portfolio to the next level. Good luck on your real estate investment journey!

The post How To Start A Real Estate Investment Portfolio appeared first on CitySignal.

Now that the pandemic has largely subsided, many agents are returning to in-person showings in a market that has barely slowed down. But what about their clients, many of whom continue to work from home?

How to Handle In-Person Showings in a WFH Environment

Buyers and renters need to envision themselves living in the home before they can commit to it. This is difficult to achieve without seeing the space in person.

So, how can you manage in-person showings when your clients are glued to their laptops and working from home?

The following tips are based on my personal and professional experience, as both someone who bought a condo in LA during the pandemic and a former real estate agent in NYC who had his fair share of apartment showings gone wrong.

1) Keep a schedule for showing the home that you and the renter/homeowner can stick to.

When I pre-leased apartments at a residential conversion in Lower Manhattan, I worked with the building’s residents to get what we in the leasing world called “PTE” (permission to enter). Pre-leasing, by the way, is renting the apartment to a new tenant before the current renters move out, something I found was crucial for maintaining the golden number in real estate: 98% occupancy.

Keeping a consistent showing schedule that everyone living in the home could agree to was also crucial to renting the apartments before they vacated. I asked residents to provide me with a few windows during the week when I could show the apartment on short notice. Most residents picked Monday through Friday from 1 PM to 4 PM (whether they worked from home or not) and Saturdays from 11 AM to 2 PM (when they were usually out for brunch).

This same concept can be easily translated to homeowners. Work with them to come up with a schedule that suits everyone’s needs. If they’re not available during the day, try evenings or weekends. The key is to be as accommodating as possible while still sticking to a set schedule.

2) Don’t be afraid to ask your renter/homeowner to tidy up or leave the property before a showing.

Uncomfortable, yes, but this is something that real estate agents, leasing professionals, and property managers discuss with their clients and residents all the time. Take it from me: there’s nothing more jarring than walking into a bedroom, living room, or kitchen that’s cluttered with knickknacks and smells like last week’s take-out. On one occasion, I had to stand in front of a closed door and tell my clients, “imagine there’s a closet behind me.” No way was I going to open the door to a scene from “Hoarders.”

When I sold co-ops and condos in NYC, I always urged my clients to declutter, declutter, declutter, as it gave the illusion of more space. I also asked them (nicely) to deep clean or hire someone who could take the legwork out of it. It’s hard to wow a potential buyer when the home smells like last night’s fish curry.

The key is to be direct and honest with the renter/homeowner of the space you’re showing. Explain that you want their help. After all, you’re both working toward the same goal: getting the home sold or rented as quickly as possible. Offer them suggestions for local cafes where they could kill time during tours rather than asking them to straight-up leave. Then, draw back the curtains to let in some light and de-personalize as much as possible (with your client’s help). Keep picture frames, diplomas, refrigerator magnets, and other personal touches out of sight. Renters and buyers don’t want to envision themselves living in someone else’s home.

3) If the home is dirty or in disrepair, be upfront about it or don’t show it all.

Sometimes, sellers and landlords don’t have the time or resources to clean or fix something before a showing. That’s understandable. In some cases, it’s expected of homes that are sold “as-is.” Not showing these properties is out of the question for most sellers who are looking to move on as soon as possible, so give your clients a heads up when showing properties that aren’t up to snuff. Doing so can ease them into these situations and reduce the shock of seeing a home in disrepair.

By contrast, showing an apartment where the renter living there could care less about the home is a different ballgame. In my experience, one renter was so “burned” by his landlord that he decided to sabotage all of my efforts to pre-lease the apartment to new renters. He purposefully left glue traps and Raid baits all around the apartment (even though there were no pests), refused to take out the trash, and didn’t bother to hide his dirty laundry. Needless to say, I didn’t show the apartment again, not while he was living there. Sometimes, it’s just not worth the hassle.

The Bottom Line on Showing Homes in Today’s WFH Culture

In the current work-from-home landscape, real estate agents, leasing professionals, and property managers should be understanding of their clients’ and residents’ needs. That means being flexible with showings and, when needed, asking for a little cooperation from those who own or rent the home.

In cases where the space is cluttered, dirty, or in disrepair, it’s best to work with sellers and landlords to get it ready before showings. Otherwise, be upfront with potential buyers and renters about the home’s condition, but be careful not to scare them away from the listing. Keep it light. Tell them they’re in for a treat, open the front door, and let them take everything in at their own pace.

Finally, if the homeowner or renter works from home and can’t step out for a showing, don’t be afraid to call the shots: ask them to keep surfaces free of clutter, store away clothes and other personal items, and work in a space that won’t detract from the potential buyer or renter’s experience of the home.

At the very least, tell them not to pace the living room in their pajamas while shouting into the phone. That won’t help anyone.

The post How to Handle In-Person Showings in a Work-From-Home Environment appeared first on CitySignal.

Funding Problems

Currently, in NYC you can still formally apply, but chances are, the funding won’t be sufficient for the extensive existing backlog. As of mid-March 2022, more than 318,000 New Yorkers have applied for ERAP assistance, but only 127,000 have been paid. Governor Kathy Hochul has twice requested funding for this that has fallen woefully short. The first time, $996 million was requested and $27 million was granted, while the second request was for $1.6 billion, and only $119 million was allocated. This is enough for about 8,500 pending applicants. Although ERAP is still technically accepting applications, at this point they are not expected to be fulfilled.

About ERAP

ERAP is a lifesaver for many NYC renters and landlords alike, in recovering our lives and normalcy, post-pandemic. To qualify, ideal applicants have an income range anywhere from 30% below to 80% of area median income (AMI) and are behind on the rent due to the pandemic. Citizenship status is not required to qualify, and the program will pay up to 12 months of back rent due, accrued on or after March 13th, 2020, as well as up to 12 months of late utility bills (electric and/or gas). Additionally, if you spend or will spend 30% or more of your income on rent, the program will pay 3 months of future rent, as well.

The payments are made to the landlord or property owner on your behalf, and the utilities are paid to the company on your behalf. Subsidized housing tenants are not eligible at this time, but low-to-moderate income level households were encouraged to apply. The government hopes to obtain more funding for this program, but so far has not received anywhere close to what is needed.

ERAP Protections

If you happen to be involved in an eviction, applying for ERAP will halt the process, and that’s not all. ERAP has other protections that some landlords are currently violating, so it’s important to know your rights. Once the landlord accepts the funds, they are obligated not to raise the rent on those tenants for at least one full year after payment is received. Additionally, landlords who are in the program have agreed to waive any late fees associated with the arrears. And last but not least, these landlords have agreed not to evict these tenants when their lease is up. These protections are there to help avoid a repeat of the situation, giving people a chance to get back on their feet post-pandemic.

Current Problems

The program has encountered many struggles, mostly due to the lengthy, complicated process to apply. The city has even paid Catholic Services to assist renters with the application process, but there are technical problems and everyone gets frustrated. In addition, other problems plague both property owners and tenants. Recently, some landlords in NYC have been presenting tenants with leases for renewal that include rent increases, which is against the rules of the program.

Attorney General Letitia James, in an article in The Real Deal, has some advice for renters in this predicament. They are to return the lease with a note, explaining the rent increase is not permitted by the terms of the ERAP program, and they’ll need a different lease. A.G. James also issued a separate warning as a reminder to landlords not to increase rents for these tenants for a full year, as well as not to evict them when their leases are up. This is a violation of the program rules and against the law, James reiterates, and says she stands “ready to take action.” The notice also mentions the program recently received an additional $800 million in funding.

On the other hand, some people are using the ERAP program to take advantage of the system and continue to occupy their homes without paying rent. Landlords are frustrated too, who can request funds for late renters themselves, and say that landlords fear renters are using the program and the fact that if you apply for ERAP, it stays the eviction process. This enables renters who are just taking advantage of the situation to stay even longer in their apartments rent-free, thwarting already frustrated property owners.

The government is notoriously slow, and this program is particularly so. One reason for this is the requirement that the application be completed in one setting, and it’s a 2-hour or more process. In addition, several important documents are required. The city is even paying Catholic Social Services to assist New Yorkers who want to apply, as demand still remains high.

There has been talk of money in Governor Hochul’s budget that could be allocated to the fund, but as previously stated, Attorney General Letitia James issued a press release on April 18th stating the program had recently been ‘infused’ with another $800 million in funding, so it remains to be seen whether it will be needed.

The post What is ERAP and How Does it Work?  appeared first on CitySignal.

But how do you get started as a real estate agent in New York City?

Here are four tips from a former salesperson (yours truly!). But first, let’s go over some background information on what it takes to become a real estate agent in NYC.

What are the Prerequisites for Becoming a Real Estate Agent in New York City?

New York’s Department of State (DOS) is the governing agency that licenses those who wish to work as a real estate salesperson or broker in NYC. Here’s what you need:

• Be at least 18 years old
• Have a valid NYS driver’s license or non-driver ID card
• Have completed a DOS-approved, 75-hour salesperson course ($450 – $995)
• Pass the NYS Real Estate Salesperson exam ($15)

Once you’ve completed these steps, you can obtain your Real Estate Salesperson’s Photo ID Card by submitting a Real Estate Salesperson application to the NYS Division of Licensing Services.

4 Tips From a Former Salesperson

Here are my biggest takeaways on becoming a great real estate agent in NYC, plus a few things I wish someone had told me when I first started.

Tip 1: Get in the Right Mindset

Being a real estate agent means not having a steady paycheck. Months could go by before you make a penny. Meanwhile, the bills keep coming and your phone doesn’t stop ringing. You could be at a wedding, at the movies, or lying on a blanket in Central Park on a Sunday. There’s no shortage of renters and buyers in NYC. And because they have to move “yesterday”, they have no scruples about calling, texting, or emailing you at all hours of the day.

This is why it’s important to get in the right mindset before you start. Be prepared to hit the ground running on day one and don’t be afraid to make mistakes. They’re bound to happen no matter how much you prepare. Also, throw out any preconceived notions you might have about real estate being a glamorous profession. While the earning potential is high, the hustle is real.

So, how do you get into the right mindset? You have to be okay with all of the above. Yes, the hours are flexible, but I often worked 12-hour days six days a week just to keep up with competing agents. Yes, you get to meet new people all the time, but some of them will remind you of so-and-so who used to talk about you behind your back. And yes, you can make a ton of money, but it took me six months to earn my first commission, so having some funds to fall back on is a smart idea.

Tip 2: Get Licensed and Consider Sponsorship

I completed the 75-hour salesperson course in person at the New York Real Estate Institute, but you can complete the course online. It covers everything from real estate terms like “exclusive agreement to sell”, “dual agency“, and “eminent domain” to important fiduciary obligations between brokers, agents, and their clients. Basic math skills are required for the real estate licensing exam since it tests your ability to calculate percentages and commissions. I suggest going through a few practice exams online to get a feel for what you’ll be dealing with.

Also, it’s important to consider sponsorship at this stage. When I was in real estate school, some brokerage companies pitched themselves as “commission-friendly”, implying they would charge 20% or 30% percent of your total commissions rather than the 50% standard. Other firms allowed you to keep all of your earned commissions, but they charged a “desk fee” of $500 to $2,000 per month. They also rarely shared marketing expenses, whereas other companies split the cost of running apartment ads daily. At $1 to $7 per ad, ten to 20 ads a day, these costs add up fast.

Tip 3: Consider Joining a Small Firm

A small brokerage firm can get you the hands-on training and one-on-one attention that larger firms often lack. Just be aware of management’s limitations. A positive and supportive network of real estate professionals will help you achieve your goals faster and better than an agency that shoves a list of vacant apartments in your hands and leaves you to sink or swim.

Alternatively, you may consider joining a larger firm if it has a comprehensive training program for beginners. Some training sessions that come in handy include how to advertise effectively, how to convert leads into clients, how to grow your referral business, and how to build meaningful relationships with landlords and property management companies in the city. These last two points are critical for becoming a top-producing agent in NYC, so you’ll definitely want to master them.

Tip 4: Always be Closing

Although spring and summer are peak seasons in real estate, top-producing agents don’t go into hibernation mode during the fall and winter. On the contrary, they live and breathe the “ABCs” of real estate: “always be closing”. If you aren’t familiar with David Mamet’s Pulitzer Prize-winning play, Glengarry Glen Ross, I urge you to take an hour and 40 minutes of your time to watch the film version starring Alec Baldwin. Sure, it’s a little dated (1992), but I’ve never seen a play or film that nailed a sales environment quite like it.

This last tip may be the hardest to grasp until you’ve become a real estate agent in NYC, so I’ll leave you with this: In real estate, it’s important to be hungry and stay hungry, but “always be closing” doesn’t mean that you need to be overly aggressive or pushy to seal the deal. It’s probably better to say, “always be honest”, as honesty is really the best policy in NYC real estate.

Final Thoughts on How to Become a Great Real Estate Agent in NYC

Real estate is about providing a service that many clients internalize as a deeply emotional and personal experience. You’ll need to understand how to read people, how to communicate with them at every stage of the renting or home buying process, and how to treat their biggest financial decisions with empathy and respect.

If you can do this and apply yourself to these four steps, you’ll be well on your way to becoming a top-producing real estate agent in NYC!

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How To Get Guaranteed Entry to the NYC Marathon

The easiest way to get a guaranteed entry into the NYC Marathon if you aren’t a speed demon, is to qualify through NYRR 9+1 program. This means you race 9 of their qualifying races and volunteer for one by December 31st of the year prior. There are also 3 virtual races that qualify. This means that any races you run in 2022 will get you guaranteed entry for the 2023 Marathon, NOT 2022. Note that you must also have an active NYRR membership as of December 31, 2022.

All the NYRR Races Left This Year to Qualify For the 2023 NYC Marathon

• April 24th: RBC Race For the Kids presented by NYRR 4M
• May 1st: NYRR Newport 5K
• May 21st: RBC Brooklyn Half Marathon
• May 28-June 5th: Virtual NYRR Global Running Day 5K
• June 11th: Mastercard New York Mini 10K
• June 18th: NYRR Queens 10K
• June 25th: Front Runners New York LGBT Price Run 4M
• June 26th: Achilles Hope and Possibility 4M Presented by TD Bank
• July 16th: NYRR Central Park 4M
• July 18th: NYRR Brooklyn R-U-N 5K
• July 31st: NYRR Team Championships 5M
• August 13th: Harlem 5K
• August 20th: TCS New York City Marathon Training Series 12M
• August 27th NYRR Grete’s Great Gallop 10K
• September 11th: New Balance 5th Avenue Mile
• September 18th: New Balance Bronx 10 Mile
• October 2nd: TCS New York City Marathon Training Series 18M
• October 9th: NYRR Staten Island Half Marathon
• November 5th: Abbott Dash to the Finish Line 5K
• November 6th: 2022 TCS New York City Marathon
• November 19th-27th: Virtual NYRR Run for Thanks 5K
• November 20th: Race to Deliver 4M to Benefit God’s Love We Deliver
• December 3rd: NYRR Ted Corbitt 15K
• December 10th NYRR Frosty 5K
• December 31st: NYRR Midnight Run 4M

Don’t hesitate to sign up, these races go by quickly! But don’t worry, CitySignal will be cheering you on!

An avid runner who needs to optimize their space? Check out our advice here

The post How To Get Guaranteed Entry into the 2023 TCS NYC Marathon appeared first on CitySignal.

Spring Cleaning Tips

Stock up on Spring Cleaning Essentials

Do you have the proper cleaning supplies, paper towels, and rags to start the task? Those are necessary to have on hand before you begin. The vacuum you use is also important. A HEPA vacuum is one of the best spring-cleaning supplies to purchase because they trap airborne particles that cause allergy symptoms. If you don’t have a HEPA vacuum, make sure you have one with attachments for cleaning ceiling fans, behind furniture, and tight spaces. Steam cleaners are another option for spring cleaning. They can be used to naturally clean kitchen appliances, bathrooms, tile, hardwood floors, and even the microwave. 

Create a Spring-Cleaning Checklist for Each Room

Cleaning the entire house at once can seem overwhelming, but spring cleaning can be broken up by room. But before you even start, create a checklist (see our ultimate checklist below) for each room of the house to stay organized and take note of areas that need extra attention. There may certain areas of the home that were neglected over the winter that need more time. Designate a certain day to begin the cleaning but realize that it does not all need to be completed in one day.

Work from Top Down

Start from the ceiling down so the debris from cleaning on the floor will be cleaned last. A vacuum with an extension hose should be used to get cobwebs and dust from the ceilings, fans, and light fixtures first. Then dust the furniture and other times before vacuuming all the debris from the floors. Bonus Tip: For cleaning carpets, sprinkle baking soda on the carpet, let sit for 30 minutes, and then vacuum, which will clean and deodorize.  

Get Rid of the Clutter

Part of the reason that spring cleaning is time-consuming is because of clutter. Studies indicate that a disorganized home can create stress. Understanding the reason for the clutter and a solution for it can help get rid of it quickly. Clutter can be sorted into four categories: garbage, donate, store, or put away where it belongs. Get a large box for donations and a trash bag for garbage and move them with you as you move from room to room. That way, there is one large donation box and trash bag at the end of cleaning rather than some in each room. This is an effective way to get the clutter out of the way. 

Seasonal Spring Chores

Several chores are associated with spring cleanings, such as cleaning the grill, patio, or garage. Spring is a good time to clean the walls and windows and screens, where dust can settle over the winter. Starting from the top, use a damp towel or rag to wipe down walls and blinds.

Bonus Tip: Wash the windows on a cloudy day to avoid streaking with 8 parts water to one part vinegar.  Wipe down with a coffee filter or newspaper for a streak-free shine.

Spring cleaning is also a good time to put away winter clothing, bedding, and décor and bring out spring items, as well as replace HVAC air filters. Allergy sufferers should consider wearing a mask and rubber gloves for some of the more heavy-duty spring cleaning.

Organizing the Garage

Most homeowners tackle cleaning out the garage during the spring months. Start by removing everything from the garage and group them by category. Items that are used often should be placed on shelves for easy access while items that are not used often can be stored in cabinets or bins. A pegboard is essential for hand tools like hammers. Wall hooks can be used to hold rakes and shovels.  

Spruce Up the Space

Now that the space is clean and ready for the new season, spruce it up with some new items. A few inexpensive changes can help your house feel light and bright for spring. For example, new pillows for the couch can make the room feel refreshed. Purchasing new bedding, towels, or window treatments can transform a room for spring and get ready for the coming warmer months. Another quick way to spruce up the space is with fresh flowers or a new green plant.  

Spring Cleaning Tips Checklist

Entryway

• Sweep or mop floors

• Wipe walls and baseboards

• Clean door

• Clean doormat

Kitchen

• Clean oven and stovetop

• Clean microwave

• Clean dishwasher

• Clean refrigerator (wipe drawers and shelves)

• Defrost freezer

• Clean countertops

• Clean cabinet doors

• Sanitize the sink and garbage disposal 

• Wipe walls and baseboards

• Mop floors

Bathroom

• Throw out old medicine and makeup that has expired

• Clean shower and tub

• Scrub toilet

• Clean showerhead

• Scrub grout

• Clean vanity and hardware

• Wipe mirror

• Replace shower curtain liner

• Mop floors

• Wipe walls and baseboards

Dining Room

• Dust and polish furniture

• Dust china cabinet items

• Clean chair cushions

• Wipe walls and baseboards

• Dust blinds and curtain rods

• Clean light fixture

• Clean windowsills and windows

• Mop or vacuum floor

• Clean rugs and carpet

Living Room

• Dust and polish furniture

• Wash slipcovers, blankets, and pillows

• Vacuum sofa and chairs

• Dust blinds and curtain rods

• Wash windows and windowsills

• Clean or vacuum curtains

• Clean ceiling fans

• Sanitize remote controls

• Mop or vacuum floors

• Shampoo rugs or carpets

• Wipe walls and baseboards

Bedroom

• Dust and polish furniture

• Organize closets and donate old clothing

• Wash bedding and pillows

• Vacuum carpets

• Flip mattress

• Wash windows and windowsills

• Mop floors

• Shampoo rugs and carpets

• Wipe walls and baseboards

Laundry Room

• Clean washing machine

• Clean dryer vent and lint trap

• Organize laundry supplies 

• Wipe walls and baseboards

• Mop floors

Home Office

• Organize and recycle paperwork

• Dust and polish furniture

• Dust electronics

• Sanitize keyboard and mouse

• Wipe walls and baseboards

Garage

• Declutter tools, sporting equipment, and toys
• Wipe down walls
• Sweep floor
• Clean garage door and frame
• Wash windows
• Wash garbage and recycling bins

Spring is a time of rejuvenation, and your home is no exception. These spring-cleaning tips and tricks will get your house ready for the new season in no time while giving your space a clean, fresh feel.

The post Spring Cleaning Checklist: Tips & Tricks for Your Home appeared first on CitySignal.

The time for renewal and fresh beginnings.

The time for warmer weather, Easter dresses, and outdoor activities. 

For a lot of us, the warmer weather brings out our “inner perfectionist” in the spring cleaning department. Many retailers begin featuring plastic bins and organizing items to help your process get started. 

Everyone’s home and situations are different but we all need to complete a deep cleaning on occasion. Grab a notepad, pen, and a cocktail. It’s time to learn how to effectively clean and organize your home this spring!

Make a Plan 

It may sound simple but it’s highly recommended. Be sure to make a plan before starting! Do not plan to do everything in one day. You won’t get a proper deep cleaning if you rush. 

Start with mapping out your home. A simple sketch will suffice. Make a shortlist of what you know you can accomplish that day. Trying to do too much at once can be overwhelming and sometimes lead to throwing in the towel altogether. Once you decide on that days’ plan, map out your next available day to continue deep cleaning.

Do you need a bit more guidance in your life? Maybe you need a pre-made list to work with. If that’s the case, there are plenty of options on the web for printables of every kind. Check out this website for some great FREE printables to get started. 

Buy Your Necessary Supplies

You can’t give your home a good spring cleaning without proper supplies. Before you even remotely start cleaning, be sure that you have everything that you need. Below are some great ideas to get you started. 

• Detergent-Cleaning your bed sheets, towels, and dishcloths
• Multi-Surface Disinfectant-To deep clean all of your hard surfaces
• Bathroom Cleaning Supplies-Deep-cleaning the shower, toilets, sink
• Large Storage Bins-Organizing and Storing
• Trash Bags-For throwing away and donating

Everyone has their own preference for brands and scents to choose from. Many people enjoy using eco-friendly products that are good for the environment and for their families. Want a large assortment of green cleaning products shipped right to your door? Be sure to visit Grove Collaborative. All new customers receive a free gift with their first purchase. 

If you prefer a little assistance in cleaning your home, check out Zen Home Cleaning. This NYC company only uses green cleaning products and its staff is highly vetted. 

Repurpose if Possible

Are you the crafty sort? Do you have a lot of things in your home that you really don’t want to throw away? 

If so, consider repurposing them! Many older items can be made into other, more useful household items. 

Old books can be fashioned into shelves. An old ladder can be turned into a bookshelf. Plastic spoons can be made into a lamp. For these great ideas and more, click here. 

Donate

One of the best things you can do with your unwanted items is to donate them to a great cause. Many wonderful organizations are just waiting for your gently used items to give to those who are in need. Some places accept donations and resell them. The proceeds are then used to provide for families that are less fortunate. 

**Be sure to call ahead to your chosen organization. Some have specific drop-off times or pick-up services.**

Some great organizations in and around NYC are:

• The Bowery Mission
• Habitat for Humanity NYC
• Goodwill NYNJ
• The Salvation Army
• Housing Works
• Big Reuse

Disposal of Unwanted Items

If you wish to throw away some of your unwanted items from your home, many items can be picked up with your standard trash pickup. Click here to be sure your items are eligible to be picked up by the sanitation department. 

Cleanout Express may be the answer to all of your junk removal needs. This Queens-based company proudly services all five boroughs. This company can remove all of your unwanted items from apartments, construction sites, businesses, and more. Cleanout Express recycles over 60% of the unwanted items that they remove from homes. 

Powell and Sons is another great company that can remove trash and unwanted items from your residence or business. Powell and Sons provides service to all five boroughs as well. You can fill out a form on their website to get a quick, free quote. Their junk removal specialists are ready to provide you with quick and effective service.

Now that you are fully prepared with your list, cleaning supplies, and plans for junk removal, let the spring cleaning commence! 

The post NYC Spring Cleaning Tips appeared first on CitySignal.

Living in an apartment or condo means you have a smaller space to clean, fortunately, or unfortunately (if you can’t get enough of it). There are useful tools to own that fit into places that are shared or where you don’t have too much storage space. Here are helpful tips and tricks when it comes to spring cleaning to get the job done faster and more efficiently. 

Use Space-Efficient Tools

1. Sponges

Instead of a bad quality two-use sponge, buy a pack of sponges that have an abrasive side as well as a softer side. The temperature-controlled Scrub Daddy has so many options for home cleaning, with their products being extremely durable.

2. Microfiber Cloths

If you’re looking for a material to clean your windows or mirrors, microfiber cloths are a great option to keep in mind. The material is great at wicking away dirty spots, and you really only have to soak them in water. They won’t leave any scratches or damage to the surfaces you clean. 

3. A Squeegee

If your apartment bathroom has a glass door or just the normal tile walls, having a squeegee to use after each shower will prevent mildew and mold. This doesn’t just go for spring cleaning, but it’s a useful practice to implement into everyday showers. 

4. A Toothbrush or Scrub brush

Getting into the tiny nooks and crannies can prove to be a pain if your brush isn’t small enough. Grabbing an old toothbrush can do the trick or buying a set of different-sized scrub brushes can help you switch out when possible.

5. Broom, Dustpan, or a Swiffer

For hard flooring, having these items will be a lifesaver, rather than using other methods. Using the original Swiffer can save on space as well as being able to use a dry or wet method to clean the stains off the ground.

6. A Sturdy Vacuum

Living in an apartment or condo probably means a smaller storage space. It’s more space-efficient to have a lighter/thinner vacuum cleaner than one of the big ones. But that doesn’t mean the product has to be any less in quality. If you’re a hands-free type of person, a Roomba may be the choice for you. For a lighter one, the Eureka models have great reviews. For a vacuum that can be stored under the bed, Dyson has got your back. 

What to Clean in Your Apartment

Now, what exactly is there to clean during spring cleaning? It can be anything really. Traditionally people clean their whole home. From the bedroom to the kitchen, from dusting the countertops to wiping all the knobs and handles. Spring cleaning is also a great time to clean out the closet or bookshelves. Grab a huge bag, sort out the items you don’t need or want anymore and donate them to the nearest thrift store. If you need a few extra bucks, you can even pick out items in good condition and sell them. 

Before you jump right into cleaning each room, make a plan of what exactly to clean. This helps you pick out the right tools and cleansers for each item/room. Make sure to dust everywhere first. Ceiling fan, lights, window blinds, vents, radiators, and even your baseboards. Be sure to focus on nooks and crannies that you may not usually dust. If you happen to live in a walkup with no cleaning staff, it might not hurt to clean the outside of your apartment. Dust and dirt can easily accumulate right outside of your doorway entrance, and you’ll simply bring in more dust the next time you enter your home. 

Cleaning the inside and outside of your toilet, clearing out your closet, and wiping down and reorganizing your pantry are basics but consider cleaning the inside and outside of your fridge or deep cleaning your couch cushion covers. Your fridge can easily accumulate food particles or your couch can be a hotbed for dust mites (eww) which can lead to health concerns down the road. If cleaning gets overwhelming, consider cleaning room by room. This way, you can check a room off the list and move on to the next with no worries. 

Cleaning Supplies

There is a multitude of cleaning supplies and products that can be used. Some of the basics include a grease cleaner, bleach, white vinegar, baking soda, isopropyl alcohol, hydrogen peroxide, glass cleaner, and a dishwashing liquid. 

Some products you have to mix for best results would include baking soda with lemon juice to get rid of odors or vinegar and baking soda can be effective for tiles and countertops. However, using chemicals to clean is like 8th-grade chemistry. Some substances mixed with others are going to cause a harsh, toxic reaction. Bleach and vinegar should never be mixed, as the two together produce chlorine gas. A lot of glass cleaners contain ammonia, so never mix a liquid like that with bleach. They react to produce a gas called chloramine which can cause shortness of breath and chest pain. Ever watched those movies where a kidnapper puts a rag over someone’s face and they immediately blackout? That can happen if you mix bleach with rubbing alcohol. Basically, just use bleach as it is, or dilute it with water. 

With these tips and tools in mind, make your plans and happy spring cleaning!

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