More accounts of rising net effective rents

i may be wrong but I think LL's are testing the water in hopes that they GET a lot of activity for high season. I think come Sept/Oct you will see the incentives return.

I farted

All these reports about the rental market recovering are bogus. What's happening in reality is that people upgraded to a better rental apartment for cheaper or the same they were paying. It obviously generates some activity but don't be misled believing the market is recovering. The NY job market hasn't recovered and until it does, there are no reasons to leave your roomate to live on your own or to move cross country to NY with any guaranty of prosperity.

if you raise the price, they will come.

w67thstreet farted

if you raise the price, they will come

Panic renting?

happy days are here again! I better run out and get an apartment at Silver Towers - they must be flying off the shelf!!

hee, hee.

I'm with one of the larger higher end rental companies... they just lowered some rents.

Separately, I noticed that archstone lowered some as well... apartments listing for less than they did a year ago.

Somwhere, if rents are lower and you expect they'll increase why not take a two year or more lock.

Here is a view from Wall Street: if the current mkt sell off continues (there are quite a few signs it may) bonuses will be down vs 2009, hiring will slow, and there is even a some risk of layoffs. The brokers' buzz about rents is a head-in-the-sand wishful thinking.

I'm gonna fart again.

And riversider, cause I expect rent to be lower in 1 yr, so why lock myself up? Ohhhhhhhhhhhh. I get it buy an condo so you can 'lock' in your 'rent w downpayment' for 30 years!!!!!! Awesome. Way to have liquidity for the about to be cheapest equity mkt In My lifetime!!!!!

I noticed that Related is advertising on Streeteasy with free gym memberships. That is a step back from the free month but still a discount to full ask. (Though I never understood charging for membership of an in building amenity, just as I don't like the resort charge at hotels).

RoseNYC - I check the listings in the Ellington (52nd and 8th). There had been a long list of available studios, then no vacancies. The "ask about our incentives" tag also disappeared. But now there's an tentative incentive offered in a recent online listing:
Two Bedroom
12-G
You can view this apartment with our doorman staff Monday-Sunday from 10am-6pm. No Appointment Required. This apartment is for immediate occupancy. Ask about special move- in incentives. You may be eligible for one month's free rent.

" /> 2 BR 2 BT $3,825

Has anyone noticed the slew of Glenwood advertising -- not just on SE, but on many blogs as well?

"The buzz among rental brokers and developers"

When have rental brokers and developers buzzed when rents actually WERE going up?

w67 -- the about to be cheap equity? Are you referring to real estate equity going forward, or stock market (before everybody else chimes in -- I don't care what others are thinking) just getting clarity from w67 on the point.... Tx

I moved into my current rental apt a year ago - got the apt with a lowball offer - surprised me a bit that they took it - just got lease renewal and it's exactly flat vs last year. Cojones says what?

Manfox. Equity mkts. It is much much more 'actionable' (btw I hate that word) than slowly seeing your leveraged equity go bye bye. Only 2.2k open houses this Sunday, come on borkers, it's a marathon. Go for the positive split, don't sandbag to do it.

Cojones says "So f-ing what? Some renter c--t anonymously claims some looser landlord doesn't whose d--k don't know which way is up did something stupid. You probably live in some crap building where no one wants to be, not in a quality Manocherian or Pan Am building."

Curious that we've never seen a same-line comp from cajones in 9 months of claims that rents have gone up.

http://www.calculatedriskblog.com/2010/06/have-residential-rents-bottomed.html

There is some evidence that apartment rents have bottomed ... at least temporarily.

The BLS reported this morning:

The shelter index increased for the first time since August 2009, rising 0.1 percent. The rise was mostly due to the index for lodging away from home, which increased 2.5 percent. The indexes for both rent and owners' equivalent rent were unchanged in May.

The OER measure was up slightly and tends to lag other measures of rents.

Rent now or be priced out forever.

This was posted earlier but worth repeating..
http://online.wsj.com/article/SB10001424052748704113504575264863146900120.html?mod=WSJ_NY_RealEstate_LEFTTopStories

At least three major Manhattan landlords have decided to stop paying broker's fees on some rental properties, signaling that many tenants need to brace themselves for extra expenses when apartment shopping.

This is a shift from last year, when landlords—desperate to fill empty units—would cover the broker's fee, typically a month's rent.

Doesn't seem to be working so well, if you look at their avails.