How New Rent Legislation Could Hurt Tenants

Syracuse Property Management Company

Written by Louis Fournier, CPM, President


There has been a fair amount of discussion both for and against the new Tenant legislation that was recently adopted by New York State. No question the legislation is intended to provide protection for tenants that find themselves at the mercy of a bad Landlord, but has it gone too far?  It has put the “good” and “bad” Landlords in the same category. In the end, this may penalize some of the Tenants the legislation is intended to help.

The permitted criteria for rental applications has been watered down so much that many of the tools Landlords were able to use to screen Tenants are no longer allowed.




One of the most damaging changes to the legislation is the limit placed on providing and obtaining honest references for Tenants.




Landlords cannot deny an application based on the Tenant’s eviction history. This is not limited to evictions for not paying rent. If the Tenant has been evicted for any type of poor behavior, prospective Landlords may not use this information when reviewing applications.




The screening process is the most effective tool to create a safe and vibrant rental community. Eliminating some of the critical screening tools could result in Landlords establishing higher milestones for approval, such as credit and income to offset the elimination of credible Landlord references. This could actually limit some of the options for housing for Tenants that do not meet the stricter income and credit requirements.




The eviction process has also been revised to provide tenants with additional time to respond to evictions and presumably cure any default. In the past, tenants that have violated their lease could be given a three-day notice to cure the default whether it is monetary or related to other types of lease violations.

The new legislation extends the cure period to fourteen days. Additional extensions may be granted by the court which could extend the process further. When all other avenues to work with the tenant have been exhausted, most responsible Landlords use evictions as a last resort. The new legislation may cause Landlords to commence evictions sooner rather than negotiating an out-of-court settlement.




In addition to the significant changes to the legislation described above, further restrictions on security deposits, credit references, application fees and the ability to recoup attorney’s fees have been changed drastically.




For us, the full impact of the new legislation for our property managers remains to be seen.  We fully support and endorse providing safe and affordable housing in the community.  However, there needs to be middle ground when establishing Landlord-Tenant legislation to avoid creating a system that limits Landlord’s ability to use common sense when addressing the way they are able to operate their business and maintain their apartment communities.


For further information on what changes have been adopted please see the link below.











Why You Need a Commercial Broker When Buying Multi-Family Property

Syracuse Property Management Company

Written by: Matt Buroni 


Purchasing multi-family investment properties are a lucrative investment option and a great way to put your money to work in an asset that has the ability to pay you a return every single month.  A commercial real estate broker will prove to be a valuable relationship that will help maximize your return, with no cost to you. The following are four reasons why you need a commercial real estate broker when buying multi-family investment properties.


Saves Time


Most of us have jobs and obligations that leave us with little time to look into various investment property opportunities. Commercial real estate brokers are constantly looking for new properties to sell and buy for their clients. Based on specific investment needs, they can provide you with the best options. Brokers should have a list of available properties that they can immediately present to you. They are able to find new opportunities in your given market before you can.

The most time consuming part, especially now, is finding good investment properties. Good investment properties are hard to come by and the really good ones are gone before you even know about them. For this reason, it’s better for you to have a professional on your side working to find you deals.


Greater Knowledge


If you are just starting out in the real estate investment world and don’t know where to begin, it is often overwhelming to find the first place to start. A commercial real estate broker will bring you through the process, as they are always going through the transaction process on multiple different properties at a time.

An agent can apply their extensive knowledge on every aspect of a potential deal. There could be an issue with the financial performance of a property or something wrong with the physical property itself that you might not immediately pick up. Your broker’s job is to act in your best interest. They want to make sure that you get the best deal you can. Take advantage of the knowledge a broker has let them guide you in your decisions.


Better Price


Now that you and your broker have found the property that you are going to further pursue, what should you pay for it? You don’t want to pay too much and lose money on the deal in the long run, and you don’t want to offer something that will offend the seller. Again, you can use the expertise of the broker and come up with an offer price that will start the negotiation process. Your broker has seen many deals and knows exactly how to act to get you the best price possible. Once you have an offer set, your broker will guide you through responding to any counter offers that may come from the seller until you are signing the papers at the closing table.

Your broker will be the one that is responsible for contacting and directly communicating with the seller or the seller’s broker. This means that you actually do not have to speak with anyone else during the process, except for your broker.


No Fee


The seller pays a commission on the sale of a property, so your broker will be getting paid by the seller of the property as they work for you. If there is a listing broker representing a seller, then your broker will get an agreed upon percentage of the total commission paid by the seller. When you take the cost out of the equation and add in the benefits that you will receive, there is absolutely no reason why you should not have a broker working for you.


If you utilize a licensed commercial real estate broker for the four reasons listed above, you are likely to have much more success along your investment journey. Building a strong and long lasting relationship with a broker is one of the best ways to begin. Not only will you receive the mentioned benefits, but you will receive them at no cost to you.  If this seems like it is too good to be true, give a local agent a call and ask them how it works. You will not be disappointed with what you find!








Feinberg of Sutton Real Estate Co. brokers three sales: $3.425 M total

Syracuse Property Management Company

Feinberg represented the seller, DuPont, in the sale of 69 Seneca Ave., a 60,000 s/f industrial building. The building sold for $725,000 to Rock Environmental.


Feinberg and Binswanger represented the seller, Masterlock, in the sale of 900 Linden Ave., a 234,000 s/f industrial building on nine acres. The property sold for $2 million to Star Development Group who was represented by Patrick Wahl of CBRE Rochester.


Feinberg procured the sale of 2083-2107 Park St., a 1.5 acre development site in Syracuse, for $700,000 to the Wolak Group.


Featured on NYREJ.

Radziewicz Breaks Down Millennial Office Trends

Syracuse Property Management Company

Sutton’s Vice President, Joe Lewis, recently mentioned that at the end of the 19th century and beginning of the 20th century there was a need for substantial spaces to produce large quantities of products with machines of considerable size. In order to accommodate this type of work, buildings were constructed with large windows, tall ceilings and open floor plans. Now, in the 21st century there is a need for large spaces in order for people to collaborate and work together. The buildings built in the 19th and 20th centuries are providing the space desired by the millennial generation, who want natural light and roomy, flexible space where they can spend their work days.


To look further into this trend, Sutton’s Marketing Associate, Taylor Light, sat down with Sutton’s newest Real Estate Salesperson and millennial, Cody Radziewicz. Together they broke down SIOR’s recently published blog article titled “5 Millennial-Led Office Design Trends CRE should be Paying Attention To.



“Cody, the article mentions millennials are dominating contemporary professionalism and shaking up the way business gets done. What do you think us as millennials are doing to shake up the business world?”


“The way that millennials are shaking up business is with our ability to be able to both work and enjoy ourselves at the same time. Millennials are able to balance multiple things at once; given the ability to accomplish not only one task but multiple. Most importantly we can accomplish these multiple tasks at once without feeling overwhelmed. The world is changing so fast, many people are trying to adapt but we (millennials) were born in this fast paced, hardworking, ever-changing work environment where we are not only succeeding but thriving as well.”



“The article states that millennials are changing office spaces and that it is vital for Commercial Real Estate to keep up with the fast moving trends. As a  millennial and a salesperson how are you keeping up with the changing environment?”


“I don’t know if I try to look at it is keeping up with the changing world but trying to stop and not have it pass me by. I am trying to learn from my mistakes but not dwell on them either. I try to look forward to the future and what it has to hold for me. As an individual, I try to always live by the saying, “be where your feet are” and because of this I try to live in the moment. I did not realize how true this say was until I graduated college and now I want to make the most out of every opportunity in front of me.”



“The article lists five hot office trends: turning back to nature, specialized lounge areas, flexibility is key, less is more and co-working spaces. How relevant do you think these trends are? Are you seeing this in the CRE world?”


“I think these trends are very relevant in today’s world. The main reason being recruitment, a space with character and energy is what these trends are representing. I am finding that companies who are following these trends in terms of office design are having an easier time recruiting younger professionals. I have been starting to see these trends come to life in the CRE world; many older spaces are getting built-out or re-developed to fit these trends. As real estate professionals we are starting to see things that are related to nature whether it be in color, wood inspired walls, large windows with a lot of natural lighting but with the overall thought that less is more.”



“Similar to what we just discussed, the article stated “today, workplaces commonly include natural lighting, live plants, exposed brick, and wood elements.” On a scale of 1-10, how common is this type of space becoming? Why?”


“On a scale of 1-10, I would say a 9 for how popular these types of spaces are because many companies are looking to do a build-out or remodel to meet trends like these. Like I said before it is the easiest way to recruit younger professionals that want to be in a fun working environment, these new trends allow them to work in a space that does not feel like work.”



“According to Jeff Miller, one of Apple’s lead interior designers, “lighter, powerful, wireless technology has untethered the workspace more than ever. Offices now mandate the inclusion of dedicated lounge areas to make working more enjoyable.” I know I have personally witnessed this first hand in college and throughout my internships but how have you seen this? Do you think this trend will continue on for years to come?”


“I personally haven’t seen it in person, but I have seen variations of this approach through many office spaces in Syracuse. Whether it is the tearing down of cubicles to have standing desks with no walls, to the large kitchen/dining areas that make it feel like a community mess hall, which I personally think are unique in their own way. More or less, I predominately see this approach taken by many tech companies where interaction and brainstorming are key in the development of success. I do think this trend will continue, but many different variations of it will branch out and each office will have similar features. On the other hand each space will also be unique and personal in a way that fits their company. In CRE, as salespeople, we will have to realize that each company is not the same and each is looking for a space that meets their company’s goals.”



“The article mentioned how co-working is now satisfying the needs of our generation because it can provide endless flexibility and fresh new adventures. It even said that shared offices are the new norm. How can CRE take advantage of co-working spaces?”


“The best way I feel CRE can take advantage of co-working space is to bring the idea  of co-working to potential clients including future tenants and landlords. It gives a salesperson a new way to show their client how a space can be maximized and brought to its’ fullest potential. Salespeople do not have to be limited in showing a building that is already home to office space but can show older factories and industrial buildings as potential office sites as well. Co-working spaces need an open floor plan, but also a floor plan that can accommodate a large number of people.”



“It was stated that the design of an office plays a role in the productivity, efficiency and happiness of employees. Out of the 3, which would you say people are looking for?”


“Out of the three I would say people (millennials) are looking for happiness. We all want to find the right job, with the right company. The environment has a lot to do with that, not only dealing with the natural environment and structure of the space but also the people around. The mixing of all generations is important; companies need the millennials just as much as they need the older generation. Each group should learn from one another, so when the older generation moves on and retires the millennials will be able to step in and coach the generation below them.”



“As an overall general question about current real estate trends, what kind of things are clients looking for when you take them on tours right now?”


“I haven’t had to deal with larger corporations (yet) where they would need this large of space. I’ve had the pleasure of working with smaller groups, ones who are looking for specific things, which dominates this market from what I have been dealing with. I would love to have a large corporation, or start-up company come to me looking for a space with large windows, an open floor plan with a lot of potential. Hopefully the day will come where someone will need that and I will be there to help them. Obviously, I am just starting out but it would be a great experience for me and I think it would be even better for the community to see the continued change here in Syracuse as current companies continue to grow and new ones join the area.”



“As a millennial that has only been in the workforce for a couple of years, how important are these office benefits to you?”


“I find these office benefits very important to myself. Many people look at work as work, but if there are ways to make it better for individuals, why not try it. I think that for millennials, especially, in terms of work it is no longer looked at as a 9-5 job like it has in the past. The benefits that amenities such as lounge areas, where you can talk to your colleagues discuss work and gather other’s opinions is going such a long way nowadays. Not only do individuals grow in settings like these but so does the company itself.”

Sutton Real Estate facilitates three sales totaling $4.735 million

Syracuse Property Management Company

Kenneth Tyminski of Sutton procured the sale of 226-230 West Genesee St., which is a 34-unit apartment building with two store fronts in the downtown area. The building sold for $3.28 million.


Matt Buroni of Sutton represented the seller in the sale of two multifamily/student housing properties at 1005 & 1007 Harrison St. The two properties have 12 units with 20 beds total and sold for $1.35 million.


Larry Socia and Richard Robb of Sutton, together with Jones Lang LaSalle arranged the sale of a building at 8929 North Seneca Street in Weedsport to Lunkenheimer Craft Brewing Co.


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