Southwell EXP Realty

10/19/2024

😎👍🏼 Mortgage Company highlight of the month!

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Fellowship Home Loans

10/19/2024

10 Reasons Landlords Should Rent to Government Program Tenants in New York:

Renting to tenants through government programs can offer landlords a unique set of benefits that reduce risks and provide stability. While some landlords hesitate due to perceived challenges, many find these tenants to be among their most reliable. In New York City, where housing shortages are a constant issue, participating in government programs can be both financially smart and socially impactful. Here are 10 compelling reasons, backed by statistics, laws, and real stories, to consider renting to government-assisted tenants.

1. Guaranteed Rent Payments

Government programs like Section 8, SOTA CityFHEPS, and HASA ensure timely rent payments directly to landlords. According to HUD, nearly 99% of Section 8 rent payments are made on time, providing financial stability even during market downturns.

When COVID-19 led to widespread job loss, landlords with government tenants reported fewer disruptions in rent collection compared to those relying solely on market-rate tenants.

2. Reduced Vacancy Rates

NYC landlords often struggle with vacancies between tenants, leading to lost income. Government programs offer a consistent demand for housing and allow for quick tenant placements. The CityFHEPS program alone had over 36,000 participants in 2023, providing a vast pool of eligible tenants.

3. Tax Incentives and Financial Benefits

NYC offers financial incentives for landlords who rent to tenants in housing programs, including property tax abatements and mitigation grants. For example, the NYC Housing Preservation and Development (HPD) offers bonuses to landlords who accept homeless families transitioning into permanent housing.

4. Legal Protections Under NYC Law

New York City’s Source of Income Discrimination Law
prohibits landlords from rejecting tenants based on government subsidies. Violating this law can result in fines up to $250,000. Renting to program tenants ensures compliance with city regulations and avoids legal complications.

5. Access to Tenant Support Services

Many government programs provide case management and support services for tenants, reducing the burden on landlords. Programs like HASA assign social workers to help tenants maintain housing stability, reducing the likelihood of late payments or disruptive behavior.

A Bronx landlord shared that working with a HASA tenant was a smooth experience because the tenant’s caseworker handled all communication about rent and building rules, making management easier than expected.

6. Reliable Long-Term Tenants

Many government program tenants are looking for long-term stability, especially families and individuals transitioning from shelters. Research shows that 74% of Section 8 tenants stay in the same rental for five years or longer, reducing turnover costs for landlords.

7. Security Deposits and Damage Coverage

Government programs like CityFHEPS and Section 8 often cover security deposits and, in some cases, offer additional damage protection to landlords. This provides landlords with peace of mind regarding potential property damage.

A landlord in Brooklyn shared that when her CityFHEPS tenant accidentally damaged the unit, the program reimbursed her for repairs within weeks.

8. Combatting Homelessness and Supporting the Community

By renting to government-assisted tenants, landlords directly contribute to addressing NYC's housing crisis. In 2023, over 67,000 people were homeless, including families with children. Providing stable housing creates opportunities for tenants to rebuild their lives and reduces strain on the shelter system.

A Manhattan landlord rented to a family from the NYC shelter system. Five years later, the tenant’s children graduated from high school and enrolled in college—a testament to the power of stable housing.

9. Property Protection Through Program Inspections

Many government programs, such as Section 8, conduct annual property inspections to ensure the unit remains safe and habitable. This helps landlords maintain their property in good condition and avoid costly violations.

10. Diversify Income Sources and Build Reputation

Renting to government program tenants allows landlords to diversify their income streams, reducing dependence on the fluctuating rental market. It also builds goodwill and strengthens the landlord’s reputation in the community and with city agencies, creating future opportunities.

After initially hesitating, a Queens landlord shared that accepting a tenant through the CityFHEPS program opened doors to work with other city agencies, leading to additional rental opportunities and financial bonuses.

Conclusion: A Win-Win Opportunity for Landlords and the Community**
Renting to government-assisted tenants offers NYC landlords a combination of financial security, legal compliance, and community impact. By embracing these programs, landlords not only gain stable income and incentives but also play a crucial role in addressing the city’s housing challenges. As real-life stories show, government tenants can become some of the most reliable renters, contributing to a more stable and prosperous community for all.

Partner with Me Today
If you’re a landlord in New York City and want to benefit from renting to government program tenants, I’m here to help. Let’s work together to ensure your property stays profitable, while also making a meaningful difference in someone’s life.

Contact Information:
Michael Southwell
Licensed Real Estate Agent and Government Housing Program Expert
📱 678-913-HOME (4663)
📧 [email protected]

Let’s turn your vacancies into opportunities and create stability for your tenants and community!

08/30/2024

Attention New York tenants and apartment hunters:

Did you know you shouldn’t be paying more than $20 total for tenant screening? This includes both credit and background checks! Plus, it’s now illegal for a landlord to deny you housing because of previous evictions.

Remember: Don’t get scammed—know your rights!

Feel free to DM me for more tips or if you need help finding a home to buy or an apartment to rent. My team and I are here to assist you!

08/29/2024

Many renters try to find places on their own to avoid working with a real estate agent, but this can quickly become frustrating due to issues like being scammed or dealing with costly unknowns.

Here’s why you should work with a licensed Real Estate Agent when looking for an apartment:
1. We are legally bound as well as accountable to local and federal laws, greatly reducing your chances of being scammed.
2. We represent you and smooth the transaction process.
3. We have exclusive access to legitimate rental properties, both market and off market.
4. Even if you found the landlord on your own, we exclusive tools and strategies to verify if the landlord is the true owner or a scammer.
5. You only pay the broker fee at lease signing when you get the keys. NO UPFRONT BROKER FEES!

04/24/2023

Come make this stunning ranch-style home your new residence! Situated in a friendly neighborhood and boasts a prime location for commuters, it's only 8 to 10 minutes away from metro north station. The property sits on over three quarters of an acres of land, making it an ideal opportunity for larger families. The home comprises four bedrooms and two full bathrooms, including an updated country-style kitchen with granite countertops and a bright living room that is flooded with natural light. There is also a bedroom adjacent to the kitchen, currently being used as a family room. The lower level has been fully updated and is perfect for a mother/daughter setup, complete with a beautiful new full bathroom, a spacious family room, two additional rooms, and a laundry area. For outdoor entertainment, the property boasts an oversized two-tier deck and a 27' above ground pool. This gem of a home is in excellent condition and a must-see! Need more storage space? No problem! This property also comes with a shed! To schedule a viewing, DM me!

09/06/2022

, , WHAT'S GOOD, PEOPLE?
WE OUT HERE!
About me:




in GA & NY





participating broker!

And I'm looking for a local chef with restaurant managerial experience that's interested in partnering to open restaurants all over GA. Interested? DM me.

04/19/2022

What do you do when you get a call from FOX Business producer to do an interview about this very interesting real estate market? You show up as the Expert!🤷🏾‍♂️

Interview location:
at one of my current listings,
16 Homewood Road, Hartsdale, NY
(Here's a link: https://www.trulia.com/p/ny/hartsdale/16-homewood-rd-hartsdale-ny-10530--2009039566 )

02/19/2022

OPEN HOUSE TODAY from 12noon to 2pm!!

11/06/2021

Come on home to this amazing single family home! I'm looking forward to showing you around today! I'll be here til 2pm!

11/04/2021

🚨OPEN HOUSE ALERT🚨!!!
THIS SATURDAY FROM 12 NOON TO 2PM AT 117-29 146th Street, Jamaica, NY!
(See virtual Tour in bio)

Property info:
Nestled in this quiet South Jamaica neighborhood and 5 minutes away from JFK Airport is this recently renovated and gorgeous single family home with tons of awesome features waiting for your family to call it home! Equipped with a Smart keyless entry lock, walk into the front room that seamlessly lead into the living room and dining area. This 3 bedroom, 2 bath house also has an additional bedroom in the basement and a secondary living room area! The attic space is the length of the house and can be used as extra storage space. As you pass by the Kitchen with granite countertops and amazing cabinetries, you'll find the mud room and laundry area leading to the entry of the private, roomy and fenced backyard that features a detached workshop building that can be easily converted into a man cave or She shed! This house also comes with a covered carport for your parking needs. Public transportation, shopping and restaurants are all nearby! This house will not last! Schedule a showing today!

10/20/2021

(Virtual tour in bio) Nestled in this quiet South Jamaica neighborhood is this recently renovated and gorgeous single family home with tons of awesome features waiting for your family to call it home! Equipped with a Smart keyless entry lock, walk into the front room that seamlessly lead into the living room and dining area. This 3 bedroom, 2 bath house also has an additional bedroom in the basement and a secondary living room area! The attic space is the length of the house and can be used as extra storage space. As you pass by the Kitchen with granite countertops and amazing cabinetries, you'll find the mud room and laundry area leading to the entry of the private, roomy and fenced backyard that features a detached workshop building that can be easily converted into a man cave or She shed! This house also comes with a covered carport for your parking needs. Public transportation, shopping and restaurants are all nearby! This house will not last! Schedule a showing today!