Rental prices - rules of thumb? ideas?
Started by GettingOut
almost 17 years ago
Posts: 64
Member since: May 2008
Discussion about
So with all the take about buying vs renting, I am a seller that made the decision to get out. I have a downtown 2br / 2ba that was bought in 2006 and am close to signing a contract that, including my renovation and broker fees, will put me about 7% in the hole. Definitely consider myself very lucky to make it out without getting killed. The plan is to trace up to a 3br rental for a year or two, then make a call whether to buy again. So now the question is whether there is a rule of thumb (similar to the $1k a foot for sales) that can be used for rentals. I'm looking mostly in the Village and want a doorman. Ideas / thoughts? Any good no fee sites is also appreciated since Craig's List seems like there are lots of sketchy characters on it...
I have some bad news for you: there are so few 3 BR apartments in the Village period that you are probably going to be paying a fairly steep premium unless you switch neighborhoods. OTOH, I'd go visit any of the new projects in the area (where most of the 3 BRs are going to be, and where you can redily still access floorplans and know which buildings are even good possibility)and if they are "complete" see the super and let him know you'll show your appreciation if he hooks you up with a vacant apartment and if they are not complete hit the sales office and when they tell you they aren't renting find some way of making yourself memorable enough to someone there that when they start renting themselves or hear of a purchaser who is going to rent, they will contact you.