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.











Sutton brokers $3 million sale and leases 5,000 s/f

Syracuse Property Management Company

Bart Feinberg of Sutton Real Estate Company brokered the sale of approximately 6 acres to Bankers Healthcare Group (BHG) in Syracuse’s Lakefront District for $3,000,000.


In addition, Sutton Real Estate Company has leased the final 5,000 SF in the Sherwood Office Park in Syracuse, NY.


Karen Cannata-LaRocca and Kristen Nave represented Steven C. Stacy, DDS, P.C.  in a deal that closed in October 2019. Dr. Stacey will be leasing one of the last spaces in Sherwood Office Park that will be home to his dental practice.


Elderchoice Inc., has entered into a 5 year lease for 2,500 square feet.  Kristen Nave and Bart Feinberg brokered the deal between Elderchoice Inc. and the landlord.


See the full article on NYREJ.

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.

Shelly Casterline Hired as Controller at Sutton Real Estate Company

Syracuse Property Management Company

Sutton Real Estate Company is proud to announce its’ recent hire of Shelly Casterline, who joins Sutton as Controller.


Shelly comes to Sutton with over 20 years’ experience in the real estate accounting industry. She is a graduate of Le Moyne College in Syracuse, New York and is a Central New York native. Shelly’s responsibilities at Sutton will include supervision of the company’s accounting department, strategic financial planning of the company, managing the company’s financials, as well as overseeing the financials of the properties currently under Sutton management.


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