A checklist of practical and required actions all owners of rent regulate properties should consider

Owners of rent regulated properties should be familiar with the practical requirements of ownership, not only the technical. Here is a list merging the two. 1. VOTE! Or DON'T complain about the results. Under 15% of New Yorkers voted in the 2009 primaries. The minority decided your candidates. Taxes go up? Read about an investigation or indictment of politicians? Remember how they got there. 2. Join an organization. Like the Rent Stabilization Association (RSA) in New York City. 3. Are your apartment registrations (like DHCR) current? Check locally for your requirements. 4. All required filings with local municipality, city or state agency up to date? All leases current? All renewals come with the required applicable pamphlets? Notices? 5. Permits are up to date? Enforcement today is being used to generate income. 6. Don't delay in enforcing your rights under leases. It will be held against you. 7. Especially in New York City, do whatever you legally can to increase rent on vacant units. In New York City, $2,000 is the threshold for deregulation. 8. NEVER accept rent or check from anyone whose name is not on the lease. 9. Remind building staff they work for you! They shouldn't do repairs or improvements in tenants' apartments without your approval. Remind managing agents too. Does your managing agent keep your rent separate from other buildings? 10. NEVER ignore any official notices. They don't go away! 11. Deal with maintenance problems as soon as possible! Besides violations or tenant court actions, if you don't show your tenants you care about your building, will they? 12. Do you have written policies concerning repairs that all staff and tenants are aware of? 13. In New York, there is no excuse not to raise the rents of rent controlled tenants or collect all allowable surcharges. 14. Keep an eye on elderly or disabled tenants! You have contact information for them? You have current contact information on all of your tenants and keys to their apartments for emergencies? 15. You have a last will and testament? Living will and health care proxy? Discussed estate planning with a qualified professional? 16. Is the buildings' liability and fire insurance adequate? Have replacement value? Have "up to code" coverage and lead coverage? 17. Have you checked your municipality's website (in New York City it's http://www.NYC.gov) regularly for violations? 18. Make sure you have on hand, original or certified copies of whatever you file with your municipality (deed, DHCR filings, HPD and multiple dwelling registration, permits). Are they stored with original leases and extensions in a fireproof safe? 19. SELF HELP is never permitted. Only a court can issue eviction papers. Shutting off or denying essential services are a form of eviction. It's illegal. 20. Always consult with qualified professional. 21. Don't permit a tenant to sublease their apartment without seeing the required request. Consult an attorney before you approve the request to help evaluate. 22. All your units have smoke and CO2 detectors? Once a year give each tenant a fresh battery. The building and life you save may be your own! 23. Are all doorways and intercoms operational? All required signs and notices in place? Legible and code compliant? 24. Are tenants' security deposits segregated and all apartments painted as per local law? 25. Tenant has a preferential rent? Did you use the correct rider? Organizations like RSA, in New York City, have regulated, non-regulated leases and special riders. 26. Visited your buildings at least twice a year? While there, ask and give each tenant a letter inquiring if there are any problems or repairs! 27. Everything with a tenant in writing! Tenants change their stories in court. Some courts bend over backwards to assist tenants. Repairs? Have a definitive repair schedule so there are no misunderstandings. 28. Don't make up notices to tenants. Many jurisdictions, like New York, have statutory language that, if missing, make that notice worthless. 29. Sign no work agreements, permit no workmen to begin work on property until that agreement is reviewed by counsel and you have proof that the workmen have insurance, most importantly general liability, workers compensation and disability insurance naming you and the property as additional named insured 30. Are your corporate and service of process address with the secretary of state current? Howard Stern, Esq., is an attorney at the Law Offices of Howard Stern, New York, N.Y.