Renting a Condo

Any thoughts on the question above?

We sublet a condo unit a few years ago and had a generally positive experience. The condo's owners lived overseas, but their daughter and son-in-law lived in NYC and were very accessible when an appliance in the apartment broke and needed to be replaced. We did have a lot of problems getting the building super to do little repairs for us which we never had in a rental building. The security in a condo building might be better than a rental building. Of course, the other apartments on the floor might be owner-occupied and you could have problems if you don't follow the condo rules for the building. I wouldn't think that there would be much difference in rents for a condo unit than a rental unit, but in this market, you might get a break from the condo owner. Good luck!

that hasn't been our experience. we've been looking at full-service upper east side rentals/sublets. with condos, you tend to have nicer fixtures and features, and we've found them more expensive than rentals. good luck.

When I've rented, I've preferred to rent in new condo developments instead of rental buildings, because the furnishings are newer and higher end, and the residents tend to be more upscale as opposed to a bunch of kids.

One downside in the current environment is that a lot of owner investors bought condos to flip in 203 yrs, so they could quadruple their money, which they thought was normal (!). Now that the market has corrected, a lot of these people are under water and will decide in a few months or a year to simply get out at all costs. Some realize they have a lease and can't do anything until you leave, others aren't so realistic.