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sunnyplus3
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Member since 11/05 8749 total posts
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question for the 5 boroughs people
Does anyone know what the housing codes or regulations are for multifamily homes?
Lets say its a 3 family, does one unit need to be owner occupied?
Does it depend on the area or the age of the building?
Does anyone own a property with tax abatement? what does that mean?
Any other info about owning a multi family in the city would be great!
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Posted 5/8/08 8:27 AM  |
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Jackie24
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Jackie
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Re: question for the 5 boroughs people
I am not sure about the multi family, however tax abatement means you do not pay property taxes for 10-15 years due to new construction however i know there are some fees involved
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| Posted 5/8/08 8:30 AM |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
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Re: question for the 5 boroughs people
I don't know about tax abatements, but the owner of the house does not need to live in one of the units - that's where the phrase absentee landlord comes in.
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| Posted 5/8/08 9:25 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
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Re: question for the 5 boroughs people
thank you both
On LI you usually can't rent all units of a multi family without living in one.
Anyone know anything about Averene?
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| Posted 5/8/08 9:30 AM |
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Goobster
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Member since 5/07 27557 total posts
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:)
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Re: question for the 5 boroughs people
A multi unit does not need to be owner occupied. My father owns a legal 4 family apt bldg in Bklyn, and would never break codes. No family members live in it, all 4 apts are rented out. Bldg is about 100 yrs old. I don't know much about tax abatement though, that doesn't apply to my dad's bldg that's for sure.
Message edited 5/8/2008 10:07:38 AM.
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| Posted 5/8/08 10:06 AM |
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Donna
1 year already!!
Member since 5/05 3360 total posts
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Donna
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Re: question for the 5 boroughs people
Posted by KellyFG
thank you both
On LI you usually can't rent all units of a multi family without living in one.
Anyone know anything about Averene?
do you mean Arverne? If so that is Far Rockaway Queens and probably not my first choice for a rental property
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| Posted 5/8/08 10:07 AM |
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Kara
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Member since 3/07 13217 total posts
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They call me "Tater Salad"
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Re: question for the 5 boroughs people
Posted by KellyFG
On LI you usually can't rent all units of a multi family without living in one.
These are town ordinances, right?
What towns have this rule?
Message edited 5/8/2008 10:12:15 AM.
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| Posted 5/8/08 10:11 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
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Re: question for the 5 boroughs people
Posted by Kara
Posted by KellyFG
On LI you usually can't rent all units of a multi family without living in one.
These are town ordinances, right?
yes, very few townships on LI allow absentee landlords
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| Posted 5/8/08 10:12 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
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Re: question for the 5 boroughs people
Posted by Goobster
A multi unit does not need to be owner occupied. My father owns a legal 4 family apt bldg in Bklyn, and would never break codes. No family members live in it, all 4 apts are rented out. Bldg is about 100 yrs old. I don't know much about tax abatement though, that doesn't apply to my dad's bldg that's for sure.
Thanks, I'm starting to make phone calls now to find out for sure about specific properties. I'm new at city real estate rules.
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| Posted 5/8/08 10:14 AM |
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Kara
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Member since 3/07 13217 total posts
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They call me "Tater Salad"
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Re: question for the 5 boroughs people
Posted by KellyFG
Posted by Kara
Posted by KellyFG
On LI you usually can't rent all units of a multi family without living in one.
These are town ordinances, right?
yes, very few townships on LI allow absentee landlords
What towns? I've looked into several multis as investment properties and never had issues like this with the towns I was looking in...
ETA - and yes I checked into it... I just want to know if I've been looking in the wrong place for this information is all. 
Message edited 5/8/2008 10:16:25 AM.
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| Posted 5/8/08 10:14 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
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Re: question for the 5 boroughs people
Posted by Donna
Posted by KellyFG
thank you both
On LI you usually can't rent all units of a multi family without living in one.
Anyone know anything about Averene?
do you mean Arverne? If so that is Far Rockaway Queens and probably not my first choice for a rental property
yes, I'm a spaz that's what I meant.
Can you give more details by FM possibly?
We are probably going to be doing section 8 rentals.
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| Posted 5/8/08 10:15 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: question for the 5 boroughs people
Posted by Kara
Posted by KellyFG
Posted by Kara
Posted by KellyFG
On LI you usually can't rent all units of a multi family without living in one.
These are town ordinances, right?
yes, very few townships on LI allow absentee landlords
What towns? I've looked into several multis as investment properties and never had issues like this with the towns I was looking in...
ETA - and yes I checked into it... I just want to know if I've been looking in the wrong place for this information is all.
Most multi's on LI are really mother/ daughters sometimes with another illegal accessory its very hard to get that converted to a true two or three family. there are only about 100 true multi families with seperate utlities zoned as such for sale on all of LI right now.
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| Posted 5/8/08 10:19 AM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
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They call me "Tater Salad"
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Re: question for the 5 boroughs people
Posted by KellyFG
Posted by Kara
Posted by KellyFG
Posted by Kara
Posted by KellyFG
On LI you usually can't rent all units of a multi family without living in one.
These are town ordinances, right?
yes, very few townships on LI allow absentee landlords
What towns? I've looked into several multis as investment properties and never had issues like this with the towns I was looking in...
ETA - and yes I checked into it... I just want to know if I've been looking in the wrong place for this information is all.
Most multi's on LI are really mother/ daughters sometimes with another illegal accessory its very hard to get that converted to a true two or three family. there are only about 100 true multi families with seperate utlities zoned as such for sale on all of LI right now.
That I understand -- I was looking at legal 2-family homes. Considering I can rent my one-family home in my town, why would I be unable to rent both apartments in a legal 2-family?
(Just curious -- sorry to hijack your thread. I'll just FM you...)
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| Posted 5/8/08 10:21 AM |
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MrsPornStar
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Mama
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Re: question for the 5 boroughs people
Posted by Donna
Posted by KellyFG
thank you both
On LI you usually can't rent all units of a multi family without living in one.
Anyone know anything about Averene?
do you mean Arverne? If so that is Far Rockaway Queens and probably not my first choice for a rental property
I agree. I used to work in Far Rockaway and it had a lot of crime all the time.
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| Posted 5/8/08 10:50 AM |
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MommyTeffi
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Member since 2/06 1827 total posts
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Re: question for the 5 boroughs people
I used to own a legal 2 family in Queens. Far Rockaway is not a great area and I would be cautious. However since you mentioned Section 8, I assuming you would be guaranteed to get your rent monthly. Feel free to FM if you have any questions.
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| Posted 5/8/08 10:57 AM |
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