2 Gen Syracuse: A Comprehensive Guide In an era where the complexities of poverty and housing instability are increasingly recognized, New York State has embraced a progressive approach: the two-generation (2 Gen) strategy. This approach, unlike traditional methods, aims to address the needs of both children and their parents simultaneously, acknowledging that the well-being of … Read more
Purchasing properties from the Greater Syracuse Land Bank presents a unique opportunity for investors, first-time homebuyers, and developers to acquire real estate in Syracuse, NY. Here’s a breakdown of the process, financing options, and some considerations regarding profitability based on the low comps and After Repair Values (ARVs): Purchase Process: The process of acquiring a … Read more
As winter descends upon New York State, property owners are faced with unique challenges that, if not addressed proactively, can lead to complications and unplanned expenses. Today, we’ll focus on critical areas of winter maintenance and legal obligations that every landlord should be attentive to. This comprehensive guide dives into real-life scenarios and offers actionable solutions … Read more
The dynamics of rental property vacancies in the northern regions, especially in New York State (NYS), have been a subject of considerable interest to both property owners and property management companies. Syracuse, being one of the prominent cities in NYS, exemplifies the unique challenges and opportunities that come with managing rental properties in areas that … Read more
As a landlord, one of the most challenging issues to address is pest control. While many landlords offer pest control as part of their lease agreements, we have chosen not to. In this post, we aim to explain why our lease does not cover pest removal, and what our approach is to this issue. At … Read more
Renting to Section 8 tenants can provide landlords with several benefits, including guaranteed rental income, long-term tenants, and government assistance with tenant screening. However, there are also potential downsides to consider, including the stigma surrounding the program and potential property damage. One of the biggest advantages of renting to Section 8 tenants is the guaranteed … Read more
As society has evolved over the past century, so have the laws regarding residential evictions. The first modern eviction laws were established in the early 1900s, as lawmakers recognized that property owners deserved the right to take legal action when tenants failed to pay rent. However, these early laws were heavily biased towards property owners, … Read more
Are you a property owner in Syracuse or the surrounding areas? Managing your own properties can be time-consuming and overwhelming, especially if you have multiple units or properties spread out over different locations. That’s where Renpro Property Management comes in. Our experienced team provides a wide range of property management services to help you get … Read more
Introduction: As a real estate investor, one of the most significant benefits you can take advantage of is depreciation. Depreciation is a tax deduction that allows you to deduct the cost of your investment property over time. By claiming depreciation on your residential real estate investment properties, you can significantly reduce your tax burden and … Read more
Real estate investing can provide a range of benefits beyond just rental income and appreciation. One of the most significant benefits is the ability to reduce your income tax liability through depreciation and losses. In fact, it’s possible to reduce your income tax to $0 while still making a profit and increasing your overall income. … Read more