This guide is general information, not legal or tax advice. Rules change, so confirm current requirements with the relevant agency or your attorney.
It depends on your time, how close you live to the property, how many apartments it has and how comfortable you are with New York City's rules. Many Brooklyn owners self-manage a two-family house they live in. Others hire a manager once they move away, add apartments or would rather have the day-to-day handled. This guide sets out what the work involves either way, so you can make the call for your own building.
What does managing a Brooklyn rental involve?
- Leasing. Pricing the apartment, marketing it, showings, screening applicants with the same written criteria for everyone, and preparing the lease with the notices and disclosures that apply.
- Rent and money. Collecting rent, following up when it is late, holding security deposits the way state law requires, and keeping records your accountant can use.
- Repairs and emergencies. Finding vendors who are licensed where required and insured, and answering urgent calls at night, on weekends and during cold snaps.
- City and state rules. Registrations, annual notices, inspections and heat season, depending on the building.
- Turnover and renewals. Move-out walk-throughs, getting the apartment ready, and renewal offers on time.
Which rules apply whether you self-manage or hire a manager?
Hiring a manager does not take the building's legal obligations off the owner. These are some of the rules Brooklyn owners commonly deal with. Which ones apply depends on the property.
- HPD registration. Buildings with three or more apartments must register with HPD every year, and so must one- and two-family houses where neither the owner nor the owner's immediate family lives. The annual deadline is September 1. HPD says a building without valid registration cannot certify the correction of violations or start a court case to recover possession of an apartment. If you hire a managing agent, the agent signs the registration too.
- Heat and hot water. Heat season runs October 1 to May 31. From 6 a.m. to 10 p.m., when it is below 55°F outside, the inside temperature must be at least 68°F. Overnight it must be at least 62°F. Hot water at a constant minimum of 120°F is required all year.
- Lead-based paint (Local Law 1). According to HPD, the law covers buildings with three or more apartments built before 1960 (or between 1960 and 1978 if the owner knows there is lead-based paint), and tenant-occupied apartments in one- and two-family houses built before 1960. Duties include an annual notice, inspections where a child under six lives, work by certified workers using safe work practices, and keeping records for at least 10 years. Separately, for most housing built before 1978, federal law requires landlords to give renters the EPA lead pamphlet and disclose what they know about lead-based paint before a lease is signed.
- Security deposits. According to the New York Attorney General, a deposit is limited to one month's rent and must be held as trust money belonging to the tenant, not mixed with the landlord's own funds. For apartments that are not rent stabilized or rent controlled, the deposit is due back within 14 days of move-out, with an itemized receipt for any deductions. Buildings with six or more apartments must keep deposits in an interest-bearing New York bank account.
- Good Cause Eviction. Since April 20, 2024, this state law has covered many market-rate apartments in New York City. Covered tenants can only be evicted or not renewed for a "good cause" reason, and rent increases above a set limit can be challenged. Exemptions include small landlords (10 or fewer units statewide, with every individual behind an LLC counted) and owner-occupied buildings with 10 or fewer apartments. Landlords must also give tenants a notice saying whether the law applies at certain times, such as when offering a new or renewal lease. Whether it covers a particular apartment is a legal question for your attorney.
Does a property manager need a license in New York?
According to the New York Department of State, anyone who collects rent or places tenants for a landlord, for a fee, generally must be licensed as a real estate broker. A company that only handles maintenance does not. Before you hire a manager, you can look up the license by name on the Department of State's public license search (eAccessNY). Windsor Fine Properties LLC is a licensed real estate broker in New York State.
When does self-managing tend to work well?
- You live in the building or close by, for example in an owner-occupied two-family house.
- There are one or two apartments and you have time for calls, including evenings and weekends.
- You are comfortable tracking deadlines, keeping records and keeping up with rule changes.
- You already have vendors you trust who are licensed where required and insured.
When does hiring a manager tend to make sense?
- You live out of state, overseas or far from the property.
- The building has three or more apartments, which brings more annual filings and notices.
- A vacancy is coming and you would rather not run the leasing yourself.
- The building has rent-stabilized apartments, which follow state rules on leases, renewals and registration.
- You would rather not be the one who takes the call when the boiler stops in January.
It does not have to be all or nothing. Depending on the property, some owners hire a manager for the rental apartments in a house they live in and keep everything else. Ask each manager what they offer.
How should you compare the cost?
Fee structures vary from manager to manager, so compare written quotes that list what is included and what is billed separately. On the self-managing side, count your own time, the cost of a longer vacancy, and what a missed deadline or a late repair can lead to. Windsor quotes every property individually; see pricing or ask for a free management quote.
What should you ask any property manager?
- Is the company licensed as a real estate broker in New York?
- Who answers emergency calls at night and on weekends?
- How are security deposits and owner funds held?
- What does the monthly statement show, and can I see the invoices?
- How are applicants screened, and are the same written criteria used for everyone?
- Which registrations, notices and inspections will you track for my building, and which stay with me?
- Are your vendors licensed where required and insured?
- How does the agreement end, and how are leases, keys, records and deposits handed over?
For a fuller checklist, including how to look up a broker license, see how to choose a property manager in Brooklyn.
How can Windsor help?
Windsor Fine Properties is a family-run property management company and licensed real estate broker serving Brooklyn, Queens, Nassau and Suffolk. Depending on the property, we handle leasing and tenant screening, rent collection, renewals, repairs with a 24/7 emergency contact line, NYC compliance support as applicable, and monthly statements through a secure owner portal. In Brooklyn we work in neighborhoods including Park Slope, South Slope, Windsor Terrace, Kensington, Bay Ridge and Dyker Heights; see all of Brooklyn.
If you plan to keep self-managing, our owner resources are free to use, including the compliance calendar for small buildings.
Frequently asked questions
Can I manage my own rental in Brooklyn?
Yes. Many owners do. The city's housing rules apply either way, and hiring a manager does not remove the owner's own responsibilities for the building.
Do I have to register my two-family house with HPD if I live in it?
According to HPD, no, not if you or an immediate family member lives there. If the house was registered before and you now live there, HPD has a Private Dwelling - Not Required to Register form. A house with three or more apartments registers every year either way.
Does a property manager need a real estate license in New York?
According to the New York Department of State, a company that collects rent or places tenants for a landlord, for a fee, generally needs a real estate broker license. Maintenance-only services do not. You can check a license on the Department of State's public license search.
Does Good Cause Eviction apply to my building?
It depends. The law covers many market-rate apartments in New York City, with exemptions that include small landlords (10 or fewer units statewide) and owner-occupied buildings with 10 or fewer apartments. Ask your attorney whether it applies to a specific apartment.
Can you manage just the rental apartment in my house?
Depending on the property, yes. Many owners live in one unit and have us manage the rental unit, with leasing, rent collection, repairs and monthly statements. The management agreement sets out in writing which shared systems we look after.
How much does a property manager cost in Brooklyn?
It varies with the property and with what is included. Windsor quotes every property individually, so ask for a free management quote.
