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First Time Home Buyers

Hi all,

I am currently looking to buy my first home in the greater NYC area and to help pay off the mortgage, I plan to rent out one floor of the house. I am a bit worried on the news that people are taking advantage of the no eviction laws and will refuse to pay rent even if they can. What types of actions can I do legally as a landlord to protect against these situations (i.e. deposits for the whole year)? I’m not sure about the whole legality of renting out my home and would appreciate any advice!

Also, if you think now should be the right time to buy or not, I’d love to hear your opinions too. Thank you!

submitted by /u/randomkid1108
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source https://www.reddit.com/r/RealEstate/comments/ijxuq5/first_time_home_buyers/
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