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1 month is a low security deposit a lot of landlords want 2 months if you don't have the best of the best of credit you always have to pay the first months up front and the broker fee is generally between 12 to 16 percent of the total years rent
Rent is paid in advance - first month
Landlord will expect a security deposit - generally one month unless there is some unusual circumstance
And if there is a broker involved and it is not a no fee listing, yes, the brokerage fee
Hi, I was wondering the range of how much I should expect will be due with/without broker fee for a $2,000/mo studio? i.e. is it common to have 1st months, a deposit (equal to 1 month), and broker fee (if broker is used)
This building seems great, but are there any availabilities? I'd consider this depending on price, but right now I'm leaning to The Beekman Regent.
116 Franklin is conveniently located between West Broadway and Church in the middle of the North side of the block . Th loft in this building are wonderfully square. with almost 50 feet of South facing windows, soaring original tin ceilings and original hardwood floors. If you are looking at classic old school TriBeCa loft space, this is the real deal...even the glass in the original windows is watery! A true gem of an old world turn of the century loft building. Most kitchens have granite counters, viking ranges ,solid wood cabintry. the 2 bedrooms are in the rear...super quiet, big closets and storage. The owner occupies the top 2 floors and keeps the manual elevator but will allow tenants to use it for moving in, and occasionally if you have a big deliver of some kind...bottom line, the lofts should be considered walk ups.
Does anyone have any information about a possible 1bed/2bed CONV opening up this summer under $3000? Looking for anywhere in Manhattan below 59th. Thank you!
This is far from a 'luxury building'. Tenants have been dealing with constant construction noises (starting at 7am and weekends), rent controlled tenants are ignored by management to drive them out, new tenants are dealing with no gas/no internet/no cable/, water and electricity shut offs weekly for 'construction', leaky ceilings and holes drilled through walls. Before renting in the Arthur, be sure to ask any current tenant how 'luxurious' the building is.
I'm already convinced Julian!
All I can say is if you've never been to the building you need to see it for your own eyes. The units are drop dead gorgeous and have the feel of opulence and grandeur. One cant help but feel like royalty here and the staff only adds to that with how polite, charming and courteous they are. The building is beautiful, the location is quiet, transportation accessibility is easy and tons of famous restaurants and bars nearby. Great place to live and call home.
I agree with several of the messages above. I was in the building often for about 6 months. The staff of the building was one of the nicest I have dealt with in 9 years in residential real estate. The sponsor was more than reasonable during any negotiations and offered to go above and beyond what most landlords would do in certain situations. He frequently asked myself and my colleague Wendy Jodel's opinion on how he could improve the apartments. We also had the opportunity to meet several tenants in the building who all expressed that they were very happy with the way the building was run. Just my two cents!
FC - Still wondering about your RW identity; if it is as one theory goes, you don't live in you mother's basement; if it as competing theories go, you are never leaving your mother's basement regardless of any decisionmaking power you imagine you possess.
I'm really starting to think, if I ever move out of my mother's basement (can't beat the rent!), I might really consider moving into this Beekman Regent building in Manattan. If my biggest concern is who else will I fit in my king-sized bed and at my dining room table, then I can truly feel like I am at Home.
This is a little too pricey for such a low floor unit. I would expect this price on a top floor but nothing lower than 15th.
Hoodia. Net effective rents are based off concessions. Meaning if they are offering one free month on a 12 month lease term the net effective rent is based off 11 months. example: rent is $3,000. $3000 x's 11 month's (taken out the 1 month free)= $33,000/ 12 months (lease term) $2750 is the net effective rent. Please keep in mind you aren't always paying that rent as sometimes they are just giving you 1 free month and not breaking it up over the course of the lease in which your rent will remain at $3,000 with a certain month for free.
What is with Net Effective Rents? They list both that and a free month. No wonder there is so much distrust in the rental world.
I think you did something wrong. It normally requires no approval on SE
Is it normal to wait 3 days for them to approve an apt rental listing? I am still waiting. I don't understand it, I'm not selling property. I am just trying to list a rental by owner, 2 BR in Brooklyn. I paid $150 for a 2 week listing and my listing is STILL AWAITING APPROVAL. Pretty soon the 2 week listing I paid for will expire. IS THIS NORMAL?????
Are here still heat problems in the building? Any other landlord issues?
What are the regulations for lease renewal and rent increases in a sponsor unit in a co-op generally? Also, what are some of the the pros and cons of renting a sponsor until in a condo vs in a rent stabilized bldg? Thank you for any help you can provide!
Not sure what is being debated here, but regardless of what the DOS says, 15% *is* pretty standard. And if landlords choose for the renter to pay, that is just capitalism. Nobody is forcing anyone to rent the apartment.
"You get absolutely nothing when you pay a broker fee. Owners should pay"
Truer words have never been spoken. Landlords are parasites, although not as much as rental brokers. In any event, the payment arrangement is backwards.
OMG just rent a more expensive place. 15%! You get absolutely nothing when you pay a broker fee. Owners should pay
Very creative, advertising in the form of criticism. What do they call that? - native advertising?
Sounds as if you're paying for electric heat. Ask the super whether the boiler in the cellar is for more than hot water.
I see now it is posted. There must be some glitches as many other tenants tried to post without success. What I wanted to say is that the building is not finished and all the tenants are facing many problems( water leaks, window that do not seal well, cold etc...) however the biggest problem is the electricity bill. It ranges from 300 USD(studio) to 900USD(2 bedrooms) and it has not been explained well why this happens. We do assume we are charged for something we are not using or our meters run in an unusual way. Do not move until this issue of the electricity has been solved as you would end up paying so much for not even using your apartment.. The rest is fine and it is a very nice building.
Why my comments and those of many others living in this building are not posted? this is not a transparent service.
always check the management company of any building you rent in.
I think I know what neighborhood this is in.
Yes. Interview a few brokers by phone and stick with one. You should just pay the fee because they will find you an apartment and in the end, it's worth it. Besides, if the owner pay the fee or any part of the fee, he makes up for it by charging a higher rent.
I am new to this fee broker world and so far what I see makes me want to pack my bags and leave NYC. All I want is a place to live! We were shown an no fee apartment and the same night submitted our application. The next day the agent calls us to tell us the landlord switched to pay only half the fee; however, he agreed to continue processing our application and of course charged us application fee. Because the whole thing smells fishy to me at this point because no deposit was taken and have a hard time believing he is going eat the fee. So I googled the apartment again and noticed it was relisted by a different broker charging a one month broker fee. When I googled I found the name of the management company of the apartment building and they also own 6 other buildings in the area, but when I tried to call direct then number has been disconnected. This is a large 6 story apartment building so people live there - thoughts to what is going on. Are we out our application fee and just keep looking??
In my old RS tenement, hot water was included in the rent but heat wasn't. Landlord only had to provide a means of heating (space heaters with chimneys to the old fireplaces) but tenant paid for fuel. That's why the RS rent-increase amounts are different depending on who pays for heat.
Or it could be that the wall units are supplied with heated water or steam by the building, the cost of which is in your CCs. Then the tenant's electric bill would cover only the cost of running the fan in the wall unit.
Then there're buildings where every apartment has its own water heater. too, so the tenant pays for that as well. In every case the lease has to be modified to fit the apartment's utility situation and is clear about who pays for what.
You agreed to provide a heated apartment, so will have to cover that part of the ConEd bill attributable to the electric heat. I don't know how you'd divvy it among heat, AC, and the rest.
Why is the electric not in their name?
I have a tenant who signed an universal lease. The following utilities are included in the rent- heat , hot water, gas. Apartment has a wall units in every room for ac/heat. tenant is refusing to pay electric bills.Please advise
Wow! In an industry dominated by imbeciles, this agent is truly a special kind of stupid. Bizzarro capitalization being the very least of it.
Or maybe this thread was meant to be charmingly self-deprecating?
That was disrespectful - you were supposed to capitalize Sponsor when you posted. You better be more mindful of who is paying you.
From the minute you walk in the building,you feel special and will be well-cared for. The building is kept up and the sponsor himself lives in the building. The apartments are grand and spacious and most have fabulous views. There are so many different floorplans available which makes it more special. From the Doorman,Concierge and Super, they only want to please you and your family. As a broker,I see many buildings in the city. The Beekman Regent is always a pleasure to show in.. so I felt I had to write this.
When you rent a tenant, do you have to be careful to pay the nanny tax?
I have worked with the owner and have rented numerous tenants in this building. All of which have been extremely happy with the services and continue to have strong relationships with them.
This building to me is one of the best condos in all of NYC.
I think "rough" means the areas next to housing projects. I guess the assumption is that these "rough" people are up to no good and travel only close to the projects.
flyflyfly84, tell us more about you and your fiance.
Life is cheap in Harlem.
There are no rough parts in Harlem don't let these people fool you. Don't bother them and they wont bother you. I went to High School in Harlem never had a problem.
What would you say is the "rough" part in East Harlem?
The rule in my building says "the floors of each apartment must be covered with rugs or carpeting to the extent of at least 80% of the floor area of each room, excepting only kitchens, bathrooms, closets, and pantries."
I assume this means the entire floor area, not just the floor area not already covered by furniture. Is this correct?
Also, anyone know if hallways are in general covered by the 80% rule?
You can't just be made a shareholder. If the shares belonged to a deceased relative the shares are probably in an estate which would have to be settled. If it has been settled and she has inherited the shares she still needs to be approved by the board and she must fit in the HDFC regulations. That said many HDFC boards don't follow all the rules. If you want to effect any change in the situation I suggest you run for the board. I am sure there is more to the story but not sure a board would approve anyone as a shareholder who doesn't pay their bills.
Thank you for this info. I have found out that she has been made a shareholder but has not been granted the stockshare yet. She lived in the building during the transition but the unit was sold to a now deceased family member. The board seems mostly interested in money and has the understanding that she cannot be tried for anything other than arrears, at least until the arrears case is itself resolved. Do you know whether that is in fact the case? She has been in court with the building for decades and nothing has changed. Gas is not part of maintenance. I believe there is some interest in trying to offer a buy out but little optimism that she will accept.
Are you on the board? If she is in your HDFC she was probably the city's tenant before the conversion, wonder why she didn't buy her unit. I assume the coop owns the unit and will sell it when the apt is vacated. And she must pay her gas bill if it hasn't been turned off, if its paid for in the maintenance, you might be able to have it shut off. If you are the board you need to be persistent and patient it will take a long time, and your management company should lead the effort. You should sue for back rent but she probably doesn't have any money, but you might be able to garnish something. It's important not to get swayed by emotion. If the coop owns the unit you can try buying her out. Most HDFC coop's lawyers were referred by HPD and tend to lean towards the city's view of things and I don't think anyone wants to see this woman on the street.
The judge doesn't want her to be homeless. It has been in the bylaws for years that these dogs are not allowed. A lot of the stuff that she has done has been documented. I'm thinking we probably need to get a better attorney?
Sorry to say it, but the judge is probably favoring her situation for a reason.
Its really hard to prove animal attacks and negligence. I don't know much about politics, but the dog thing is probably not her only violation. If you are in a coop you and her neighbors might even be able to enact some sort of unpleasant rule that she will have to abide by. Even if its simple and petty, if she doesn't follow the rule it will give you more legitimacy in court.
Although the 25k in back owed fees can be a lot of $$ for some people.
If you really want to get rid of her befriend her, and get her to make bad financial decisions. I once had a terrible roommate that was like this.
Always late w the rent, she use and brake others peoples things. She would even wear other peoples clothing out, and then pretend that she didn't.
Eventually she wanted to go on an expensive and lavish trip to impress her new BF. When we finally went to court over the unpaid rent she didn't have the $$ the court decided she owed us.
Eventually we got back for the missed rent, but she did have to move.