http://gothamist.com/2012/02/11/time_to_make_nice_with_the_landlord.php We're still making fun of people for moving to Brooklyn, but we're eating rice and pinto beans five times a week for the privilege: according to a report released by New York City's largest real estate firm, Manhattan rents went up in January, a time when you can typically count on snagging a deal. "While a few more landlords... [more]
http://gothamist.com/2012/02/11/time_to_make_nice_with_the_landlord.php
We're still making fun of people for moving to Brooklyn, but we're eating rice and pinto beans five times a week for the privilege: according to a report released by New York City's largest real estate firm, Manhattan rents went up in January, a time when you can typically count on snagging a deal. "While a few more landlords used incentives to attract clientele…building owners were able to charge more than they did during December, which is unusual for this time of year," Citi Habitats president Gary Malin says in a release. Malin is more blunt speaking to the Times: "Everything at this point is going in landlords' favor."
The report notes that rent for the average Manhattan apartment rose 5% compared to last year, to $3352,
Suggestions for keeping your landlord from raising rent: baked goods, not leaving a trail of ooze down the stairs when you take out the trash, and blackmailing him about that weird thing he does with his cockatiel on Wednesday nights.
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Response by huntersburg
about 14 years ago
Posts: 11329
Member since: Nov 2010
>Manhattan rents went up in January, a time when you can typically count on snagging a deal. "While a few more landlords used incentives to attract clientele…building owners were able to charge more than they did during December, which is unusual for this time of year,"
Recently we had a poster named Heisenberg, but she didn't even know about the physicist's famous principle. It's the same as the January effect in the stock market, an observation that isn't so true anymore. Others just call it reversion to the mean.
January, February for several years was the best time to rent a new place. But landlords aren't fools, many offered incentives of free months to get new tenants but to keep the stated rental price high which leaves the landlord in a stronger position for higher rent come renewal time for those tenants except inododo who are disinclined to move every 1-2 years. But it also had another effect that's positive for the landlord - those 14 month leases begun in January or February, or 27 month leases from January or February meant that all of those early year leases have shifted to renewals in the early Spring. So finding a place for January or February is more difficult with lower available inventory, and finding a place in April puts the tenant in a newly crowded market that perhaps the bargain hunter is unprepared for based on the last lease time.
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Response by jim_hones10
about 14 years ago
Posts: 3413
Member since: Jan 2010
inonada will belp you geta free apartment just by offering to put the landlord on his shit list
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Response by Riversider
about 14 years ago
Posts: 13573
Member since: Apr 2009
Construction in multi-family homes is picking up. Developers would not be entering this business if rents were not increasing. If this were not true, then where are the head line stories about lower net rents?
>Manhattan rents went up in January, a time when you can typically count on snagging a deal. "While a few more landlords used incentives to attract clientele…building owners were able to charge more than they did during December, which is unusual for this time of year,"
Recently we had a poster named Heisenberg, but she didn't even know about the physicist's famous principle. It's the same as the January effect in the stock market, an observation that isn't so true anymore. Others just call it reversion to the mean.
January, February for several years was the best time to rent a new place. But landlords aren't fools, many offered incentives of free months to get new tenants but to keep the stated rental price high which leaves the landlord in a stronger position for higher rent come renewal time for those tenants except inododo who are disinclined to move every 1-2 years. But it also had another effect that's positive for the landlord - those 14 month leases begun in January or February, or 27 month leases from January or February meant that all of those early year leases have shifted to renewals in the early Spring. So finding a place for January or February is more difficult with lower available inventory, and finding a place in April puts the tenant in a newly crowded market that perhaps the bargain hunter is unprepared for based on the last lease time.
inonada will belp you geta free apartment just by offering to put the landlord on his shit list
Construction in multi-family homes is picking up. Developers would not be entering this business if rents were not increasing. If this were not true, then where are the head line stories about lower net rents?