By Craig Ingber, Partner at Belkin Burden Wenig & Goldman, LLP

Landlords often require a guaranty when entering into a lease with a potential tenant. A guaranty is an agreement by a third party to take on the obligations that a renter, or lessee, has agreed to perform after he or she has failed to do what was originally agreed to.  The guarantor is the person who agrees to pay for someone else’s obligations should that person fail to fulfill the obligations of a lease.

For instance, a Guaranty gives a landlord an assurance that the landlord will be paid if the tenant does not pay the rent. In many instances in New York City, landlords would not agree to lease an apartment to young college students or to anyone with a poor credit rating without getting a Guaranty from a more financially responsible party.

For example, landlords will ask for a Guaranty from the parents of college students who typically do not have any income.  Other times, landlords will ask for a Guaranty when a tenant’s application to rent an apartment does not demonstrate sufficient income and/or financial assets to pay the rent, or if the tenant’s credit history is poor.   Any landlord who requires a Guaranty will also obligate the guarantor to provide a credit report as well as proof of income and assets sufficient to pay the rent under the lease.

Sometimes a landlord will accept a Guaranty in lieu of requesting a larger security deposit from a tenant. A landlord’s acceptance of a Guaranty in lieu of a higher security deposit may close the gap for leases with tenants who lack sufficient assets to post a higher security deposit. Because many tenants must also pay a brokerage commission when signing a lease, cash is often in short supply.

A Guaranty is a direct contract or obligation between the landlord and the guarantor. A Guaranty is desirable because the landlord can seek payment under the Guaranty directly from the guarantor if the tenant does not pay the rent. A landlord can bring a legal action against a guarantor if the tenant does not pay rent when due and recover what it is owed.

A well drafted Guaranty also provides that the guarantor has to reimburse the landlord for the cost to recover the amount owed the landlord including attorney’s fees.  Many commonly used leases in New York City have a Guaranty incorporated into the form of the lease which the landlord may use.  Some landlords have a separate and more detailed form of Guaranty that they prefer to use with their leases.

A Guaranty may facilitate getting a lease signed and should always be reviewed along with the proposed lease to make sure the tenant and guarantor understand their respective obligations.

If you have decided that you want to move yourself, there are several important steps involved in the process.  First, decide whether you want to rent a truck to drive yourself, or if you want to rent a storage container from a DIY moving company that will deliver it to you and then pick it up on your specified date and drive it to your new location.  If you are moving a long distance away, the truck rental company may charge you a large fee so that they can retrieve their truck from your new location.  In addition, if you rent a storage container, depending on how long you keep it and how far away your new home is, your price can reach upwards of $1000.  You may decide that using a moving company instead in these cases is equally cost-effective, but be sure to compare prices.

If you want to rent a truck yourself, you have to determine the size of the truck that you will need.  For moves between two close locations, you may want to rent a smaller truck or van and make multiple trips.  However, if you have a long-distance move or want to move your entire house or apartment in one trip, get a larger truck to fit all of your belongings.  Truck rental companies will provide you with a general guide as to how many items or rooms will fit in each type of truck.  Depending on the distance you’re traveling, the size of the truck, and the date of your travel, you can pay between $150 and $250 per day.  If you have a vehicle that you need to bring with you on your move, some rental trucks have towing capabilities so that you can tow your vehicle behind you.  Remember, adding extra trailers can increase your costs by up to $300 depending on what type of trailer you are renting and on what date you are using it.

There are some extra charges to be aware of when renting a moving truck.  You can add daily insurance to your order for around $30 a day, but you may already have insurance that covers this, so check with your insurance companies and credit card companies (which may offer travel coverage).  In addition, while mileage charges are normally included in your rental price, sometimes there is a limit to the number of included miles; be prepared to pay overage charges (around $0.40 per mile) if you are driving for a longer distance than what is included in your price.  You can also purchase additional rental days for your trailers and trucks for between $20 and $40 a day, respectively.  You will receive the truck with a full tank of gas, but you will also have to return it with a full tank; including gas you buy during your drive, you could end up spending several hundred dollars.  Your rental company will likely provide you a number of free furniture pads to use for packing, but you should be prepared to rent at least 30 pads for a 4 bedroom house (pads rent for around $5 for six or $10 for twelve).  You will also need a dollie to help transport your belongings to and from the truck, and you can rent one for between $7 and $12.

Be sure to book your truck(s) well in advance, especially if you are moving between the end of May and the end of September, which is peak season.  You will also be charged extra for truck rentals during this time of year.  You may want to set up a rental agreement as early as one to two months in advance.

Whether you are renting a truck or a storage container, you may want to consider having someone help you load your furniture onto the truck/container at your current location, and unload it at your new location.  Some DIY moving companies offer labor services for an additional fee, and will help you find labor in your current, and new, areas.  You can also contact full service moving companies in your current and new locations and ask for movers to simply load and unload your truck.  The most cost-effective option is always to ask family and friends for help.

RENTALS

The standard in rentals in New York City is that the commission is paid by the tenant.  In Manhattan the standard fee is 15% of the first year’s rent.  In other boroughs it can vary from 15% of the first year’s rent down to one month’s rent.  When a tenant is competing with other qualified applicants for an apartment, as is most often the case in New York City, it is nearly impossible to negotiate the commission down.

That said, one negotiation strategy is to impress the broker with your credentials as a qualified and trustworthy applicant.  You can do this by providing clear documentation of  all relevant information including your credit score, income, cash reserves and references.  Another negotiation strategy is to offer the broker cash.

If the broker can’t lower the fee, there are other ways of negotiating. You can have the broker encourage the landlord to install  new appliances at no cost to you or have him negotiate a lower monthly rent.

Of course the best way to negotiate the fee is to pay no fee at all and toward that end, I suggest looking for no fee apartments that may be offered by individual unit owners, smaller landlords, or owners of sponsored units in coop buildings.  These may be found on the internet and also by literally walking the streets of your desired neighborhood and talking to doormen and supers who may be “hooked into” inside information.

SALES

If you are selling property in New York City and listing it with a broker, you will have to pay an agreed upon commission.  The standard commission is 6%. 

You can avoid a broker all together and do “for sale by owner”  ( aka a FSBO.)  While this strategy is certainly possible, it’s usually quite difficult and time consuming – especially for the first time sellers.  FSBO’s generally work best when you know you have a group of interested potential  buyers, such as neighbors or a known community.

When listing your property for sale with a broker you can attempt to negotiate a lower commission than 6%.  The best way to do this is to start off at a realistic asking price so that the broker believes he will be able to sell the property at or close to the asking price.  When Sellers insist on an initial asking price which is significantly higher than the market, a broker’s job becomes difficult and he will wind up showing the unit multiple times with no offers.

Another way to convince a broker to charge less than the 6% standard fee is to make the apartment as sparkling and show ready as possible.  Again, the goal is to convince the broker that this will be an easy sale due to the attractiveness and show ability of the unit.  This means going through the apartment and de-cluttering, repainting, upgrading old appliances and possibly even re-doing kitchens and baths.  Depending on the size and location of the unit, these improvements may wind up being an excellent investment in terms of the ultimate price you receive and period of time it spends on the market – obviously you want to get the unit sold as quickly as possible. 

Another method is to look for a discount or alternate fee structure brokers.  Some of these companies exist, and they will list your property for sale on their website and attempt to drive traffic to your unit with non-traditional internet presence, as opposed to print advertising and open houses.

Mother’s Day is less than a week away – are you ready? If you’re tired of the typical brunch and bouquet routine, check out this local interior designer’s guide to home gifts that any savvy NYC mom will love.

Thoughtful and Original Gifts for Mom

ArtStar and Little Collector

This website is a great resource for anyone looking to get their mom a 100% original piece of art, but not quite ready to shell out big bucks. The online art gallery is based on the idea that art should be accessible to anyone who loves art and wants to decorate their home with one of a kind pieces. To that end, ArtStar sells the work of many museum quality contemporary artists, but since it’s an online vendor, the prices are kept prices affordable.

You can search for art based on genre. This is great if you know your mom is still lifes, for example. Or perhaps she’s more into abstract art? The site offers many categories to help you make the perfect selection.

They also allow you to search by color, so if your know mom has always been looking for a piece to fill the blank spot on the sage color wall of her bedroom? Try searching for a piece of art in the earth tones category or the purple category – just a suggestion! Or maybe your mom loves all things pink – you can search for predominantly pink art.

Or if she’s an art maven and you happen to know her favorite artist, you can search the collection by artist name.

ArtStar is based in New York and available for consultations.  Prices range from $50 for small, unframed prints to $500 for large framed prints.

The Exuberant Garden by Mack Dennis, prints from $50 to $450.

Lindsey Adelman

Lindsey Adelman is a Brooklyn-based artist who creates truly spectacular works of art.   Welding brushed metal into shapes that seemed to be inspired by antlers, branches and bones, her studio designs and builds custom handmade hanging lamps and lighting that are nothing short of sublime.  She is now making other inspired pieces for the home such hand blown glass vases and vessels with intricate cast brass details incorporated into the glass.  Any of these delicate creations would be a lovely gesture for Mom to cherish. Small ornaments and jewelry run from $50 to $700. Lighting pieces are more expensive and range from $1,000 to $3,500.

Lindsey Adelman, Curiosity Vessels for $480.

Gifts to Get Mom to Relax! Bed and Bath Ideas

Waterworks

At the end of a long day or a lazy weekend morning what better than to wrap up in some very thick and fluffy towels and robe? Waterworks is always a one stop shopping extravaganza for me and my clients.  There we find the  most beautiful towels, shower curtains, bath mats, soap and scents. Show Mom how much you really love and appreciate her by fully indulging and pampering her with an at home four star spa experience for keeps.

Waterworks Donatas Linen Wash Towel in Beige, $28 each

Holland & Sherry

Holland & Sherry has the fantastic bedding options.  A monogrammed linen sheet sets is a great way to truly let your Mom know you think she is extra special.

Monogrammed Pillows from Holland & Sherry

Gifts for the Mom who has it all… Design Odds and Ends

Global Table

If your Mom loves pretty trays and objects or interesting glasses and tea sets, Global Table offers a varied and eclectic array of choices that will knock her socks off. There are lots of bold colors and fanciful designs to be found here. Plus, it’s an added bonus that these gifts won’t break the bank.  

Bamboo Photo Frames from Global Table, $20 each

Moving may seem like a tedious and difficult process, but if you do some planning your move can go smoothly and without stress.  Below is a timeline that will let you know what to expect when working with a moving company.

2 Months Before Your Move:

1. Decide what type of moving service you need, research average moving costs for that type of service, and plan your budget to make sure you can afford it.  Do you want the moving company to pack everything for you and transport it for you?  How many miles are you moving?  How many rooms are in your house?  Do you want to pack the items yourself and then have the moving company transport them? 
2. Take an inventory of your belongings, contact several moving companies for price quotes covering the type of moving service that you desire, and select a moving company to work with. 
3. Create a folder to store everything related to your move—including invoices, lists, contact information, etc.  Keeping your moving invoices in this folder will make it easy for you to file for a moving tax deduction later on if you decide to do so.

6 Weeks Before Your Move:

1. Make a floor plan of your new house (make sure that you have room dimensions of your new house if possible).  Measure your furniture and plan how you will place it in the new house, drawing in where large pieces of furniture will go in each room; you may want to use graph paper so your drawing is to scale.  You will give this to your moving company later.

5 Weeks Before Your Move:

1. If necessary, you may need to arrange for extra storage at your new location.  Contact storage companies in your new area to find out how their storage process works and what it will cost to store your items.  If you decide you need storage and want your movers to deliver things there on moving day, be sure to contact your moving company and let them know; there will most likely be an extra charge for this.

1 Month Before Your Move:

1. If you are packing yourself, order packing supplies and start packing your belongings into boxes.  Be sure to check which items moving companies are not allowed to move (most moving companies should be able to provide you with this information).  These items include hazardous materials.  If you have items that the company is not able to move, you will either have to properly dispose of them, or find your own means of transporting them safely.
2. Begin by packing a suitcase for each member of the family with one to two weeks of clothing and essential supplies that each person uses every.  Then pack some boxes of larger essentials that you use every day (such as plates and cooking utensils) and label these boxes clearly; you will unpack these first at your new location.
3. If you have not already chosen a company to work with, be sure to do this now.  Set a moving date with the company and review the terms of your agreement with them.

2 Weeks Before Your Move:

1. Make sure that your moving company has your new address and the floor plan you designed so that they know where to place large pieces of furniture at your new home.  You may want to confirm the details of your move with the moving company again, making them aware of any changes to your inventory or move plan (for instance, if you need to add an additional stop to pick up/deliver furniture from/to a storage facility).

1 Week Before Your Move:

1. Double-check that the terms of payment set out in your moving agreement have been met or that you have the money to meet them on the specified due date.  You may need to make an initial deposit and then pay the rest of the balance to the moving foreman on the day of your move.

1-2 Days Before Your Move:

1. Make sure that you set aside your suitcases and your “Essentials”/”Unwrap First” boxes in an easy-to-access place in case you need to use items from them (such as medications) up until the morning of the move.
2. Be sure to keep all essential documents and forms of payment with you, such as your moving agreement, your passport, your credit cards, your cash, your rental agreement (if you are renting your new home), your maps, your cell phones, etc.
3. Take out enough cash to tip your movers (generally you can give the tip money to the foreman and he will distribute it evenly to his movers) and/or to pay the rest of your balance when the movers get to the new location (if this is set out in your moving agreement).

On Moving Day:

1. Follow your movers as they walk around and inspect your belongings and double-check your inventory.
2. Keep any moving invoices in a safe place and later add them to your moving folder.
3. Walk through all of the rooms and outdoor areas (including the garage, if applicable) and double-check that nothing is left behind.

The design world is moving away from cooler, neutral colors and embracing warmer, terracotta tones – one of the many reason why wood blinds have become so popular.  Wood blinds have become a residential favorite over the past few years in large because they combining the romantic feel of wood shutters with the convenience common to adjustable blinds. 

Wooden blinds are great for a more intimate feel

Often clients have difficulty deciding whether to opt for genuine wood blinds or faux ones.  The answers really depends on what you want.  Here’s a rundown of the pros and cons of each option:

Look & Decor

With some of today’s higher-end brands, there is very little difference between the genuine wood blinds and faux ones. At this point,  faux wood blinds have evolved so much that some residents actually prefer their clean, smooth look of some as opposed to the hardwood collections.

That said, when you look closely at the real wood options, you can see the grain, quality and character of the wood which gives a sense of authenticity that many people prefer.

Budget

Real wood blinds, while having that romantic character to them, tend to usually be 10-15% more in overall price.

Use & Location

Need the blinds for a moist, humid area? Faux wood blinds are constructed from synthetic woods in order to prevent warping, fading, yellowing, bowing and resist mildew. This means that faux wood blinds are ideal for bathrooms  and will not be affected by long, hot showers or your hectic morning routines.

Synthetic blinds give off a sleeker feel and are great options for bathrooms

Fashioned to warm your home, wood blinds offer rich style and elegantly compliment the lines of a room. They come stained or painted and are usually available in many shades including ivory, white, or neutral, or stained hues like dark mahogany to light pine etc.

As for controls, wood blinds obviously could either tlit, to control light and privacy or raise and lower. Some brands offer cordless controls for a cleaner look and are perfect for child and pet safety as they eliminate the much discussed window blinds cords.

In New York City, we all deal with limited space. Many of us dream of having multi bedroom apartments and homes, but in reality NYC families often have to squeeze two kids in one bedroom. As parents know, siblings grow up with competing likes and dislikes, making it difficult to share spaces. The goal, then, of designing a bedroom for two kids is to delineate space and demarcate territory, while at the same time maintaining each child’s identity. How is this done? Focus on how your children’s different tastes and interests complement each other instead of compromising on a middle ground or alternative that neither child likes.  In this article, I’ll highlight several ways of how to balance opposing opinions and strike an overall cohesion in a shared kids room.

Create More Space with Varied Elevations

To begin, varying the elevation of the room’s furniture is one way to maximize utility in a limited, shared space. For instance, lofting one of the two beds frees up floor space for a desk or dresser while creating a more dynamic organization of the room. The Ducduc Austin Bunk bed smartly elevated one bed, but add storage cubbies that can be used as a nightstand, clothing storage, or a bookcase. Likewise, rethinking storage spaces by installing wall mounted drawers or floating shelves along the empty faces of the room allows you to play with more creative types of furniture.

DucDuc Austin Bunk Bed in wood finish for $2,795

Choosing Colors: Think Complements, not Opposites

Coming to an agreement on a room color or style may be one of the most difficult aspects of sharing a room. However, disagreement need not always be opposition. Instead of focusing on the differences between each child’s tastes, try to find ways to complement their differences and highlight their individuality while maintaining overall cohesion. For example, identifying each child with color and color blocking the room will streamline the room’s design while incorporating each child’s favorite color.

This can be achieved by buying the same bedding in complementing colorways, mixing and matching throw pillows, or even painting furniture pieces such as headboards and dressers in coordinating colors.  Also, incorporating monograms or symbolic images such as a favorite animal from the same collection into the room’s decor are simple ways to embrace difference while respecting each child’s interests.

No Walls? Divide Space with Visual Design Cues

Finally, using accent pieces as visual partitions instead of physical walls to demarcate territory is a more thoughtful way to achieve the feeling of uniqueness and privacy. For instance, subtle details such as laying out two different, but coordinating, smaller area rugs over a large rug can help define a space. Also, designating one large space for each child for individual expression–a place where they can hang their own creations, display their collections, and curate their thoughts and interests–gives them an outlet to be themselves without interfering with their sibling’s space or clashing with the room’s overall design.

This can be achieved through installing two chalkboards, pin up boards, or bookcases. This way, kids will feel a spatial isolation between the two halves of the room and gain a sense of distinction and privacy within a shared space.

With these tips in mind, you and your children will be able to jointly design a well-planned yet multifaceted room.