NEED ADVICE Management is asking for 3-months Security

Sorry, I wasn't clear, but 3 months security + 1st months rent which is 10,480.

before you walk I would counter their offer. 1 month security, 1 month free rent, $5,000 decorating allowance and a $100 itunes gift card. Since it is getting late in the day, tell them they have till noon tomorrow, or you walk.

absolutely not. This is as normal as purple dogs and pink cats. RUN as far away from this place as you can.

with patient and alpine - run to the bus stop and catch the next bus.

I always thought that first month, last month & (equal amount) security deposit was pretty standard.

1. The rental market is quite soft. For someone that makes 40X rent and has several months of rent liquid, these terms are absurd.

2. Do you make 40X rent? If not that could be one reason they're asking for more. You note that you have a guarantor which usually indicates not meeting the 40X threshold.

3. The rental market is soft - they could be bluffing about the other potential tenant. If yer not married to the place and have time to research the plethora of other options if you don't get it, you could call their bluff.

i'd listen to patient09 - sounds about right

their behavior is soooo 2007

supposedly they have a counter offer for 2900... i don't know how true that is. but he needs to know by the end of the day, the management company is called Provident Management btw.

Hehehe - sounds like one of Petrfitz's apts. He can ask for and demand whatever he wants because people are clamoring to get into his buildings! After all, it's still 2007 in his mind...

Yeah, I don't make 40 time the rent, but my guarantor can cover 80 times twice over and have excellent credit. I asked them why 3 months deposit and they state my guarantors are out of state. I talked them down to 2 months since I've first posted.

The other offer is a fraud. Why would they still be talking to you for 2595 if they could take 2900?

i was first apparently.

why would they even consider you if they have someone offering $2900. doesn't make sense. the power is in your hands, not theirs.

should i ask for the other people's app. to see if it's legit?

the property manager is named Mark Nagel.

no. tell them your offer is security deposit and first month's rent (5190). otherwise find another place.

dru dru dru...cmon. you're not real are you? first means nothing. see the other's app? this isn't Mayberry.

They wouldn't give you the other application even they had one, but there are plenty of places to rent in the city.

I'd refuse, and tell them you have another application elsewhere and that mgmt company only wants 1-month plus they are giving you a free month of rent. Tell them you like the 77 2nd ave place better, but money is money and if they are really serious about 2-months security deposit, you will have to go elsewhere.

unless of course you have time to find another place, and in that case make the same offer but with them owing you one month free (usually done as a 13th month). or alternatively have the owner pay the broker fee if there is one of those involved.

i think I'm just gonna show up to the management office, with 1 month security and 1st month's and say take or leave it!

no broker involved THANK GOD

Good luck! Keep us posted!

I'm at work right now, gonna go hit up the place at 4pm. will keep you guys posted. thanks.

and demand the itunes card

i don't have itunes on my computer.

I had a LL ask me for three months security and I walked but the LL told me they ask if the person doesn't have a job (I didn't) and it takes three months in court to evict someone...I found an apartment in which the LL required first and last based on my credit. Keep looking.

Reislamerica thinks you should sign for the 3x months and then sue them to get it to 2x... apparently that's the "COOL" thing to do nowadays.

Run away from there. There are hundreds of apartments for rent in the city.

ask for a Gray's Papaya gift certificate then.

SO. just got back... mixed results. Apparently there was a counter offer, for $2900, he showed me the email with some pdfs attached with some of the forms. Didn't actually show the forms.

The manager (Mark Nagel) wrote out the lease to start 4/20/2009 to 4/20/2010. I asked him could you push it back to the 24th? Who honestly moves in on a Monday? He said that they wouldn't move the date. Mind you this is all pro-rated for the month of April. He talked to his boss and came back stating that I either take the 4/20 move in date or he will send in my bid along with the $2900 offer to the landlord in CA. I gave him a month deposit for good faith to show that I'm serious and said he would get back to me.

The other applicant states that she makes 55k and the other needs a guarantor, which the father makes 110k. (Bid: $2,900) vs. me, 40k + sister (student @ Cornell) + $500k guarantor backing (Bid: $2595, which is asking rent)... which would you take?

in this market why would you negotiate against yourself or idiots? young jedi, Rule #1, never have just one rental in play... it makes it that much harder to walk away.

Try to negotiate a 1 or 2 month extension on your current rental as April is an odd rental cycle. Once done take you time as June has historically been a active month... or just rent a Rushmore unit for $1000/ month.. :)

Never be afraid to walk.... not in this market.

you gave him a check? what did you get? you're not really serious are you? please tell me this is a joke.

It is standard on cases that require extra security -- it is a lot easier to begin the process of eviction if you drop the ball than to get the ous guarantor to pay....

move on. find another place. w67th is correct. you're negotiating against yourself.

My GOD TOP is weak and or naive.

or desperate?