Apartment to rent out - advice

JohnMiller: ali r. would know more but I think with people being displaced because of hurricane damage, you may have takers for a nice, dry ,clean and warm apt.

If you own in a coop, go over the bylaws and terms required to sublet your proprietary lease.

Rental market is very tight. Doesn't matter what month. Real value-add is choosing your tenant and pricing.

Need to speak to managing agent's office first

I just put my one bedroom on the market and within two weeks had a tenant. Since this is my first time renting I used a broker and they did all the work including credit check and board package. The tenant paid the fee and I got lots of advice from the broker from getting the apartment ready to rent to how the lease is handled etc.

I think the market is very tight so you should have no problem finding a tenant even in November.

@lovetocook: congratulations two weeks is fast to find a tenant. who did you use as your broker if you dont me asking.

If not being able to have a tenant for a couple months stretches your financial situation, why don't you consider selling the place - this thought is regardless of whether or not the larger apartment you are contemplating is for you to rent or purchase.

thanks Truth. REBNY is certainly working to come up with lists of apartments for those displaced -- but those are "no-board-approval" situations. Any in need of housing due to the effects of Sandy isn't going to wait for a board.

However, the market is still pretty tight, and I would think that your chances of getting a tenant are pretty good if you're not insane with your pricing.

I would suggest using a broker since then the broker will coordinate with the managing agent, get the board package, etc. I don't work the Upper East Side but maybe Jacky Teplitzky?

Also, don't forget to switch over your insurance coverage once the place is no longer your primary residence.

ali r.
DG Neary Realty

My broker is with a small firm that actively list apts in my building on the uws. I agree with Ali that you should use a broker that handles the ues and is familiar with the building and the management. It will the process so much easier for you.

Met a couple last night who have just submitted a package to rent an apartment uptown.
They were living downtown in the zone, it's still a mess in their building.
Their lease is up in Jan. so they moved in with the wife's parents.
Husband said: " I don't mind living with my in-laws for another month or six weeks as long as there
is a light at the end of the tunnel."

JohnMiller might get a renter in a similar situation.

Thanks all... appreciate the advice!

I've been leasing apartments on the UES for the past 10 years. Feel free to reach out with any questions. Good Luck!

Rent out this apartment because rent market is trendy today's .Feel free to rent this with reasonable price..

To rent out the condo, did you have to hire lawyer ?