Author: lesjnp34

What Is a Step-Up in Basis? A step-up in basis is a powerful tax rule that adjusts the cost basis of an inherited asset — such as a home, rental property, or investment — to its fair market value (FMV) at the time of the original owner’s death. In simple terms, it reduces or eliminates capital gains taxes when the heir sells the … Continued

What Is Landlord–Tenant Court? New York City’s Landlord–Tenant Court (officially called Housing Court) is part of the Civil Court of the City of New York. It handles disputes between property owners and tenants involving rent, repairs, lease violations, and evictions. Every borough has its own Housing Court, and cases are heard by Housing Court Judges or Court Attorneys who specialize in landlord–tenant … Continued

What Is an SRO? SRO stands for Single Room Occupancy, a type of housing historically designed to provide small, low-cost rooms for individuals — often with shared bathrooms or kitchens.SROs once played a major role in NYC’s affordable housing ecosystem, offering shelter to working-class residents, students, and those transitioning from homelessness. However, due to past misuse, safety … Continued

Living in New York City means facing rising utility rates, dense housing, and unpredictable weather — from freezing winters to humid summers. With Con Edison rate hikes affecting households across the five boroughs, learning how to save energy isn’t just good for the planet — it’s smart for your wallet. Every small change adds up, helping lower monthly … Continued

DEP is offering to replace private water service lines that are made of lead or galvanized steel at eligible properties at no cost to homeowners. Service lines will be replaced with a new, safe copper line. If your property is eligible, this program can save you thousands of dollars!

Selling an inherited property involves several key steps and considerations to ensure a smooth and legally compliant process. Here is a comprehensive guide to assist you: 1. Understand the Probate Process Before selling, determine if the property must go through probate a legal procedure to settle the deceased’s estate. In New York, probate is typically … Continued