3X against the law in NY
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3X against the law in NY (by jonny [NY]) Jul 5, 2024 5:22 PM
       3X against the law in NY (by John... [MI]) Jul 5, 2024 5:31 PM
       3X against the law in NY (by ken [NY]) Jul 5, 2024 5:37 PM
       3X against the law in NY (by Bonanza [NC]) Jul 5, 2024 5:56 PM
       3X against the law in NY (by NE [PA]) Jul 5, 2024 6:58 PM
       3X against the law in NY (by Robert,OntarioCanada [ON]) Jul 5, 2024 8:07 PM
       3X against the law in NY (by 6x6 [TN]) Jul 5, 2024 9:05 PM
       3X against the law in NY (by zero [IN]) Jul 6, 2024 8:47 AM
       3X against the law in NY (by jonny [NY]) Jul 6, 2024 10:11 AM
       3X against the law in NY (by jonny [NY]) Jul 6, 2024 10:12 AM
       3X against the law in NY (by mapleaf18 [NY]) Jul 6, 2024 10:37 AM
       3X against the law in NY (by DJ [VA]) Jul 6, 2024 11:05 AM
       3X against the law in NY (by Oregon Woodsmoke [ID]) Jul 6, 2024 12:08 PM
       3X against the law in NY (by WMH [NC]) Jul 6, 2024 12:43 PM
       3X against the law in NY (by Still Learning [NH]) Jul 6, 2024 1:35 PM
       3X against the law in NY (by Ray-N-Pa [PA]) Jul 7, 2024 8:05 PM
       3X against the law in NY (by MC [PA]) Jul 8, 2024 6:29 AM
       3X against the law in NY (by jonny [NY]) Jul 8, 2024 9:56 AM

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3X against the law in NY (by jonny [NY]) Posted on: Jul 5, 2024 5:22 PM
Message:

Being advised by a wanna be tenant that effective July 1st that in NYS you cannot require income to be 3X the rent as a qualifier.

Never heard of it... don't believe it and I told him "that's our policy, I spoke to you on the phone and you stated your income was higher than you are putting on your application". He came back with that statement.

Yeah... ok... I advised him that if he's getting assistance (which he mentioned) that would come in to the equation but he then stated "he makes too much for them to help out"

Didn't we just have a conversation on here about who we won't rent to? I said "I don't mind (necessarily) LEO, lawyers, etc and it had to do with the attitude / mannerisms of the applicant. HERE YOU GO.... he "just doesn't want me to get into trouble"... OK... thanks!

--67.253.xxx.xxx




3X against the law in NY (by John... [MI]) Posted on: Jul 5, 2024 5:31 PM
Message:

This is odd. I can't find any REAL reference to any such regulation, but I find multiple sites reporting it. Note that they are saying across the USA, not just NY.

From what I can tell, it looks like it started as a TikTok trend and is just made up lies.

Weird stuff.

--107.181.xxx.x




3X against the law in NY (by ken [NY]) Posted on: Jul 5, 2024 5:37 PM
Message:

I heard this also but found no real evidence. usually when this stuff comes out the realtors are notified and a couple of my friends will forward it on to me but i havent heard anything. This would just create a situation where the tenants get set up for failure.2-3% of the units would come off the market and rents would go up --74.77.xx.xx




3X against the law in NY (by Bonanza [NC]) Posted on: Jul 5, 2024 5:56 PM
Message:

Everyone's welcome to apply.

The process is a multifactorial meta screening using AI and is very very complicated. Often taking weeks or months to evaluate your application. --65.188.xxx.xxx




3X against the law in NY (by NE [PA]) Posted on: Jul 5, 2024 6:58 PM
Message:

If they say it canít be specifically 3%, do 2.99%. --24.152.xxx.xx




3X against the law in NY (by Robert,OntarioCanada [ON]) Posted on: Jul 5, 2024 8:07 PM
Message:

A lot of tenants will say things that are not reality. Often they are told by extreme government funded tenancy advocate groups that landlords are making substantial profits where if that was so people would buy houses. Here some of government funded extreme left wing tenancy advocate chairs own their own houses. Where move some squatters to live free with free utilities then see if they will not try to evict. Here there housing as a last resort which is community housing formally called the housing authority where rent geared to income where not under rent control where income goes up then rent goes up. In the province of Ontario it takes four months rent just to pay multi-residential property tax then over the year water, sewage charges, natural gas if used included, electricity for common areas along with repair and renovation costs that are never ending. Also central fire alarms, fire extinguishers must be tested once a year. If they cut social assistance by cutting off monthly cheques so would have to get a job then use that money to supplement rent. People on social assistance feel everything should be given to them free where when go for groceries people work for it. --207.236.xxx.xxx




3X against the law in NY (by 6x6 [TN]) Posted on: Jul 5, 2024 9:05 PM
Message:

Okay, fine, I require 4X then. --76.129.xxx.xx




3X against the law in NY (by zero [IN]) Posted on: Jul 6, 2024 8:47 AM
Message:

This is another reason I am torn on giving out my minimums.

People can either find a way around it or the state can make it illegal.

--107.147.xx.xx




3X against the law in NY (by jonny [NY]) Posted on: Jul 6, 2024 10:11 AM
Message:

I am a NYS Real Estate Agent and I've heard NOTHING about it. It's true, we "usually" will be advised and I did hear some things that were "in the works" but never were approved or sent (or whatever) but this wasn't on the list for a pass or a fail.

Anywho... I don't really see how this would even be something that could come about... as a few of you stated, it will just end up placing someone and then having them fail almost immediately.

I was just talking to the MRs about this the other day that when I was looking for an apartment I recall putting down how much I made on a paper, my bills/expenditures and then said "ok, this is what I have left... so this amount (a little less for wiggle room) would be what I could afford for an apartment. No one really came and asked you for the things we do now (along with the "proof"). BUt, those were very different times and I have to say... just what I did alone, I am willing to bet that not many of the prospects do that now.

We get calls for people that make $1,000 a month (yes, a month) and they are calling on $900 apartments.... ummmm... no --67.253.xxx.xxx




3X against the law in NY (by jonny [NY]) Posted on: Jul 6, 2024 10:12 AM
Message:

It wouldn't surprise me that it was on TikTok though... social media "news" at it's finest.

I was just saying to my nephews that are on that or YouTube that whatever you see or hear on that doesn't mean it's real or true... you need to remember that. --67.253.xxx.xxx




3X against the law in NY (by mapleaf18 [NY]) Posted on: Jul 6, 2024 10:37 AM
Message:

I was going to say the same as 6x6 "ok it's 4X then" of course that wouldn't fly if this goes into effect.

I'm sure it will pop up in BLUE state/city legislation though along with "not allowed to check credit score or report."

I like the 2.995 (added another fractional) from NE but then again they will most likely add specific language such as "no more than 2X income to rent ratio" if we started doing that.

Now conversely, the tenant, with the help of legal aid, can go after 3X the amount of DAMAGES and LEGAL FEES from a landlord should they win in NYS.

--64.246.xxx.xx




3X against the law in NY (by DJ [VA]) Posted on: Jul 6, 2024 11:05 AM
Message:

Hmm... that Wanna-be tenant must still be looking. He would be if it was me he told. --68.229.xxx.xxx




3X against the law in NY (by Oregon Woodsmoke [ID]) Posted on: Jul 6, 2024 12:08 PM
Message:

I've seen it mentioned, but could not find out any information about it. My first question was "where?" but could never find anything except for the very non-specific that the law said now it is illegal to require 3X the rent.

It has to be one of those internet rumors that are totally fabricated.

The tenants are really excited about it, though. It never occurs to them that they will still need money to live on after the rent is paid. --76.178.xxx.xxx




3X against the law in NY (by WMH [NC]) Posted on: Jul 6, 2024 12:43 PM
Message:

When the banks stop requiring 3x the payment for a mortgage maybe...who's going to make them do that? --198.54.xxx.xxx




3X against the law in NY (by Still Learning [NH]) Posted on: Jul 6, 2024 1:35 PM
Message:

Good answer NE! --73.159.xxx.xx




3X against the law in NY (by Ray-N-Pa [PA]) Posted on: Jul 7, 2024 8:05 PM
Message:

Did the tenant provide you a reference to check on? --24.101.xxx.xxx




3X against the law in NY (by MC [PA]) Posted on: Jul 8, 2024 6:29 AM
Message:

Someone posted here a few days ago on the subject. --73.230.xxx.xx




3X against the law in NY (by jonny [NY]) Posted on: Jul 8, 2024 9:56 AM
Message:

I didn't go any further with the application as while I was reviewing it, I noticed the income and questioned him on it (as it was very different than what he TOLD me it was before).

I have "pre-screening" questions that I ask but I don't "make them prove" anything at that point only because I just talk with them. That alone "usually" tells me many things because if they get frustrated with my questions then I know they won't get any further (You'd be surprised that some will just freak out when you ask them questions).

This particular person was a close 3x (just a little under it I believe) when I was doing the pre-screening... but when her completed the application, he was barely 1.5x and that's when I questioned him on the income.

At that point is when he was "telling me the law" so I wouldn't get into trouble and I just told him "thanks" and I haven't heard from him since. --67.253.xxx.xxx



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