Owner renting out my apartment, any advice?
Started by jcnyc19
over 6 years ago
Posts: 1
Member since: May 2012
Discussion about
Hi all, I am planning to rent my 1 bed coop apartment in Chelsea. I am not planning to use a broker because a 15% hit to potential renter means less rent money so please do not try to persuade me otherwise. I'm looking for a July 1st move in date, furnished or unfurnished. As I live in a coop, it requires board approval (but they are pretty chilled for the most part) so I think I need to have more of a time buffer. I am thinking of listing in the beginning or middle of May but not sure if people start looking this far in advance for an apartment. When I was renting, I always looked at the beginning of the prior month. I already know to switch my home insurance as well so any other advice would be appreciated especially if you've done something similar.
May is fine as long as you have priced it appropriately. Yes. They do look that far in advance. Get a hold of the board application, skim through to make sure nothing is out of the ordinary. Try to find answers to questions a potential applicant might have so the process will be smooth.
Well, I'm a broker so I've done multiple co-op subleases. My tip for the day is to find out the building rules for subtenants and make sure that the way they differ from the regular building rules is clear in your ad. You don't want someone to glance at StreetEasy or a similar site, become interested because they love your building's roof deck, and then find out later that they can't access the roof deck because they're not a shareholder.
ali r.