There are a lot of different reasons why people want to put their “extra” apartment on lease. Some of them can go abroad; some get an apartment as inheritance, etc. However, no matter what the reasons are, it is a good way to get a stable additional income every month. Some people think that it is the easiest way to get money. Nevertheless, if you get deeper into this issue, you will understand that this “easy” money can bring you a lot of gangers and risks. So, before putting your property on lease, it is better to learn all details in order to prevent possible conflicts and misunderstandings between tenants and landlords.
One of the most common problems is untimely payment or non-payment of the tenants. The majority of experts are unanimous in their recommendation how to prevent potential problems. They are sure that all conflicts can be settled legally in case you have concluded a good provision of a lease. It is highly recommended to conclude not a typical contract but the one that is adjusted to your personal needs. In the agreement is necessary to state the term of the lease, the sum of monthly payment, the total sum of payment that is supposed to be received during the period of lease, the terms and conditions of payment, some additional conditions like payment of utility, telephone bills, passport details and the names of all tenants. The more details you include into the agreement the easier it will be to settle the conflicts and misunderstandings. Every side has to have a copy of the agreement. In case the parties used the services of a specialized agency it also needs to have a sample of the agreement.
If any of the articles of the agreement are not fulfilled, it is high time you sued to the court. Some tenants do not do it as they are afraid that in this case they will have to pay taxes from the additional income. However it is doubtfully to happen, as the court does not pass any information to the tax inspection. It can be done only by your tenants that want to harm you.
The availability of passport details is extremely essential, but there is one more detail that you have to keep in mind: don’t forget to take the information about the relatives and friends of your potential tenants. Before signing the agreement you have to either call or visit them and make inquiries about them. This is a good way to spare you of the fraudsters. In this case it will be easier to “catch” your tenant in case some problems appear.
First put your apartment on lease for a couple of month and having learnt your tenants you can conclude the agreement for a longer term.

Nowadays many people who possess additional flat try to conduct business on that. But often tenants turn down to pay their rent payments, and New York is not an exclusion here. Those landlords who are coming across that kind of problem may be interested in New York tenant landlord law. Cases can be different, and one is able to overcome some of them just possessing the proper NY tenant landlord information.

And bear in mind that we live in the digital world of high technologies. If you are looking for any details in respect of landlord tenant New York, make use of the web network. Search engines, forums, social networks and blogs – they all give you a truly unique opportunity to find everything at the best price on the market.