10 Things New Yorker’s Should Know Before Buying, Selling or Renting a Home

1. All real estate professionals must be licensed by the Department of State, and they must renew their license(s) every two years.

2. To check if a person who represents him or herself as a real estate salesperson or broker is, in fact, licensed by the state of New York, check with the Department of State by searching our website, www.dos.state.ny.us. Click on the “eAccessNY” link and enter the name of the person or firm, or call (518) 474-4429.

3. Buyers, sellers, renters and landlords all have the right to hire their own broker in a real estate transaction.

4. You should not assume that an agent is acting solely on your behalf. Unless you have entered into a written agreement with the broker, he or she could be representing the other party to the transaction.

5. When you have hired an agent to represent you,
he or she owes you the following duties: reasonable care, undivided loyalty, confidentiality, full disclosure and the ability to provide you with an accounting of any money collected or expended on your behalf.

6. Real estate salespeople and brokers must disclose whom they are representing in the transaction at the time of their first contact with you.

7. Commission fees are negotiable. You have the right to negotiate the amount of the commission to be paid to a broker or salesperson. There is no such thing as a mandatory commission rate.

8. If a broker collects fees that you owe to the landlord or seller, such as a deposit or the first month’s rent, the broker has an obligation to separate that money from his or her own. If the money is not immediately provided to the landlord or seller, the broker must put the money into a separate escrow account until the transaction has been closed. If the transaction does not close, the broker cannot keep the money for him or herself and must return it to you.

9. Non-refundable commission deposits are not permissible. A broker earns a commission when he or she finds a person who is ready, willing and able to purchase the property or rent the apartment. Only if the broker has assisted the parties in reaching an agreement on all of the material elements of the deal has he or she earned a commission.

10. Real estate salespeople and associate brokers work under the oversight and supervision of the broker with whom they are associated. You have the right to contact the broker with any concerns about the transaction or the agent’s handling of the transaction. Some salespeople and associate brokers advertise themselves as a “team” or “group.” This is not a separate company. These agents still work for a broker who is responsible for supervising their activity.

Save energy in a rented home

When a home’s not your own, it’s hard to make major energy-efficient changes. But there are easy ways to lower costs.

Change your lighting – Replace incandescent bulbs and fixtures with compact fluorescent light bulbs.

Turn off your appliances off – all the way! Some equipment continues to use electricity even when it’s off.

Use cold water – If laundry facilities are included with your rental, switch to cold water for your full loads of laundry.

Alliance to Save Energy

Renter’s reclaim your security deposit

Renters Corner

Quick & Easy Fixes
Tips to reclaim your security deposit

If you’ve been renting, the full return of your security deposit may come as sweet relief as you move from one place to the next. Because you’ve been without that healthy chunk of change since moving in to the place you’re now leaving, anything less than a full refund would be a disappointment. It would be a shame if a spot on the carpet, a broken blind or knick gave your landlord a reason to withhold a large portion, or all, of your security deposit.

With a careful eye and some elbow grease, you can ensure that you get your full deposit back:

WORK WITH YOUR LANDLORD Obtain a list from your landlord that defines normal wear and tear, as well as tasks that must be completed upon moving out. If possible, have your landlord do a walk-through with you before moving out. If not, take photos so you have proof of the condition your residence was in when you left.

PACK FIRST, CLEAN LATER While Cleaning and making minor repairs are integral to getting your deposit back, it’s a lot easier to do once everything has been cleared out of your residence.

DUST AND VACUUM Do not limit to just floors and obvious places. Dust light fixtures, ceiling fan blades, and around the windows. Vacuum closets and under appliances.

CLEAN APPLIANCES Check the manufacturer’s website for instructions on cleaning the oven. This can take hours, so budget your time accordingly. Clean the refrigerator with a warm, soapy rag and move shelves to be cleaned to the sink. Dry the shelves before returning to the fridge. A handy trick for cleaning microwaves is to fill a microwave-safe bowl with water and half a lemon and heat it for a few minutes. Remove the bowl, wear an oven mitt and wipe down the inside with a wet rag. Clean the exterior of your washer and dryer and remove lint.

MAKE SURE THE KITCHEN AND BATHROOMS ARE SPOTLESS Use specialty cleaners for toilets, sinks and other surfaces if necessary.

TOUCH UP WALLS Use lightweight joint compound for nail holes and wall repair patch over larger holes. Let the filling dry, sand and paint. For cracks, use wall repair tape, let dry, sand and dust. Reapply and follow the same process before painting. To find the right paint, take a chip to a home improvement store and have it matched to the original paint color.

CLEAN CARPETING Before spot-cleaning the carpet, test the carpet cleaning product in and out-of-sight area.

REPLACE BROKEN ITEMS Look for burnt out or broken light bulbs both inside and outside and replace. Check for blinds and shades that are broken.

CLEAN UP OUTSIDE Pick up trash. Mow and sweep if necessary.

-ARA