The state of New Yorks Bangladeshi landlords
Title
The state of New Yorks Bangladeshi landlords
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Vtmbh article article order
3
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Since 1993, several hundred Bangladeshis have bought buildings in Brooklyn, Manhattan and Long Island through newly-licensed Bangladeshi real estate agents, and rented the buildings to tenants. But as the recession hits the Bangladeshi community, landlords face growing tenant delinquency and are selling their buildings in Queens, and relocating to comparatively cheap areas in Long Island, Brooklyn, Richmond, Staten Island and the Bronx.
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The state New Yorks of Bangladeshi landlords, Weekly Thikana, 28 June 2002. Translated from Banlga by Moinuddin Naser
Many Bangladeshi landlords who live in Queens and Manhattan face growing dilemmas. They have problems making their mortgage payments because their tenants are not paying their rent on time. Therefore, they sometimes keep their buildings vacant until they find reliable tenants. With the buildings vacant, they still have trouble with their mortgage payments. As a result, owners who bought houses with small down payments face hardships paying off their mortgage.
Since 1993, several hundred Bangladeshis have bought houses in Brooklyn, Manhattan and Long Island through newly licensed Bangladeshi real estate agents. Many became building owners with only a five-to-ten percent down payment. As a result, their mortgage payments are higher than average. However, they were easily able to manage the payments from the rent they collected. As a result, many Bangladeshis enthusiastically pursued home ownership, usually at no additional cost than their previous monthly rent. To buy houses, they often spent all of their savings and applied for a lot of credit.
Most owners preferred Bangladeshi tenants. But now things have changed, as many landlords and tenants are tangled in litigationleaving many owners without rent payments for six to seven months. In many places, it has been hard to find tenants. As a result, the owners, who depended on the tenants rent to pay the loan, have failed to repay the outstanding installments. Therefore, many Bangladeshis have had to work overtime and their wives have taken jobs as well, leaving their children unattendeda bad situation for the family.
The landlords of Bangladeshi community are relocating to the cheaper areas of New York. Tenants are also moving to these cheaper areas to reduce their rent.
Many Bangladeshi homeowners are selling their houses in Astoria, Jamaica, Elmhurst, Long Island City and Jackson Heights, and relocating to comparatively cheap areas in Long Island; Brooklyn; Richmond, Staten Island; and the Bronx, where their presence contributes to the law and order of their neighborhoods.
Many Bangladeshi landlords who live in Queens and Manhattan face growing dilemmas. They have problems making their mortgage payments because their tenants are not paying their rent on time. Therefore, they sometimes keep their buildings vacant until they find reliable tenants. With the buildings vacant, they still have trouble with their mortgage payments. As a result, owners who bought houses with small down payments face hardships paying off their mortgage.
Since 1993, several hundred Bangladeshis have bought houses in Brooklyn, Manhattan and Long Island through newly licensed Bangladeshi real estate agents. Many became building owners with only a five-to-ten percent down payment. As a result, their mortgage payments are higher than average. However, they were easily able to manage the payments from the rent they collected. As a result, many Bangladeshis enthusiastically pursued home ownership, usually at no additional cost than their previous monthly rent. To buy houses, they often spent all of their savings and applied for a lot of credit.
Most owners preferred Bangladeshi tenants. But now things have changed, as many landlords and tenants are tangled in litigationleaving many owners without rent payments for six to seven months. In many places, it has been hard to find tenants. As a result, the owners, who depended on the tenants rent to pay the loan, have failed to repay the outstanding installments. Therefore, many Bangladeshis have had to work overtime and their wives have taken jobs as well, leaving their children unattendeda bad situation for the family.
The landlords of Bangladeshi community are relocating to the cheaper areas of New York. Tenants are also moving to these cheaper areas to reduce their rent.
Many Bangladeshi homeowners are selling their houses in Astoria, Jamaica, Elmhurst, Long Island City and Jackson Heights, and relocating to comparatively cheap areas in Long Island; Brooklyn; Richmond, Staten Island; and the Bronx, where their presence contributes to the law and order of their neighborhoods.
Vtmbh article date
2002-06-28
Vtmbh article edition
25
Vtmbh article hit count
174
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1
Vtmbh article original language
Bangla
Vtmbh article publication
Weekly Thikana
Vtmbh article section
news
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Vtmbh article title
The state of New Yorks Bangladeshi landlords
Vtmbh article translator
Moinuddin Naser
Source
born-digital
Media Type
article
Original Name
Since 1993, several hundred Bangladeshis have bought buildings in Brooklyn, Manhattan and Long Islan
Created by Author
yes
Described by Author
no
Date Entered
2002-06-28
Collection
Citation
“The state of New Yorks Bangladeshi landlords,” September 11 Digital Archive, accessed October 1, 2026, https://911.dev.chnm.gmu.edu/items/1432/.