Skip Navigation

Rental at 20 River Terrace

Started by LASKETCHER
about 16 years ago
Posts: 1
Member since: Oct 2009
Discussion about 20 River Terrace
What's with these lease takeovers that don't include 2 free months and a 20% cut from the prior rental price?
Response by evnyc
about 16 years ago
Posts: 1844
Member since: Aug 2008

To which listing are you referring? A lease takeover is usually handled between the current lease holder and the incoming tenant, which means that the incoming tenant agrees to take the lease on the same terms as the outgoing tenant. No special offers apply. In a hot/rising market, they can be advantageous to the incoming tenant; in a declining market, the current lease holder is essentially competing with the management company to get the place rented and any concessions would be coming from the current lease holder.

Ignored comment. Unhide
Response by evnyc
about 16 years ago
Posts: 1844
Member since: Aug 2008

Ah, I see, the lease assignment is being listed by the current tenant with the broker at Corcoran. The management appears to be offering to pay the broker's fees for the other listings. Hint: if you go in to the management office without contacting the no-fee brokers, you may be able to get an extra concession on the rental. Worked for me and the rental market has not exactly rebounded since then.

Ignored comment. Unhide
Response by antonio101
about 16 years ago
Posts: 1
Member since: Oct 2009

Rental market has not rebounded. Now that it is after September.

Ignored comment. Unhide

Add Your Comment