First time landlord in NYC (Brooklyn 2-family)...Seeking advice on MARKETING & TERMS.
Hi BP Community,
#Firsttimeposter here!
I am a newbie investor (own 1 AirBnB rental for last 3 years)... and am about to close on a 2-family home in Brooklyn NY. I have my core 4 team including an experienced broker, but what I do not have is the tried & true advice of investors who have done this before. Hoping the BP forum can help me in that regard....
I believe the 2 units (owner's triplex and garden unit) are well-positioned and will be easy to market. For that reason, I am planning to list it myself vs. using my broker and paying a fee.
Therein lies question #1: What is the best approach to self-listing as the landlord? We expect to close end of May; and the home is move-in ready (and currently staged). I'd like to list ASAP so as not to miss peak summer season. I also don't want to waste time and list and show before we close on the house.
Question #2: I need to ensure I have all the right insurance(s) as a landlord in NY. I do not want to get burned here! HELP.
Question #3: Standard lease terms. I know BP has a state-level standard agreement. I plan to leverage our attorney to help draft the agreements, but would love to get any tips from experienced landlords. Specifically in this sellers market where the rental demand is so high. How do I capture and lock in the best terms?
Thank you! So excited to be here!