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Apartment rented out every year

Started by Kiwi
over 5 years ago
Posts: 0
Member since: Apr 2011
Discussion about
Hi everyone, I wanted to get some opinions. I came across what seems to be great apartment yet I noticed that it has been rented every single year going back like 8 years. Does this sound normal or does it seem like there is something wrong with this place? When I find a nice place to live, I keep renewing my lease. Either this landlord has bad luck with tenants or doesn't want to rent out this place for more than a year's term. It is also no fee so that means they are the ones paying to list it. I'm just a bit confused about this and would like some feedback on why this is done and why they don't just keep the people that are already there. I imagine it's a hassle to go through the renting process every year. Thanks to all.
Response by knoxtenant
over 5 years ago
Posts: 3
Member since: Aug 2017

If it smells fishy, it probably is... Can you see if rates was increased too much and that could be a reason tenants left?

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Response by pier45
over 5 years ago
Posts: 379
Member since: May 2009

I would be at high alert that an adjoining unit has a tenant-for-life who is terrible to live by. Honestly, why take the risk of your sanity for a year of your life, there are plenty of apartments out there.

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Response by pier45
over 5 years ago
Posts: 379
Member since: May 2009

One other situation where this happens, if it is a condo building, (I saw some clear examples of this happening in LIC years back) is a property manager & broker combo who manages units on behalf of foreign owners turns over the apartment as often as possible, seemingly in order to collect the extra fees that come with marketing new tenants. They fill the apartment quickly by keeping base rent low.

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Response by George
over 5 years ago
Posts: 1327
Member since: Jul 2017

Big red flag, regardless of the reason. Just skip and move on. Thank G-d for Streeteasy.

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Response by ToRenoOrNotToReno
over 5 years ago
Posts: 119
Member since: Jul 2017

Good comments Pier45. Makes a lot of sense

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