Take my studio -- please!

Ali, I know that you're a broker, but could you at least try to be upfront with people????

I have a suspicion that people do not "run screaming" just based on having to submit a few recommendations.

So what's the rest of the story?

Come on, might as well let it all out because if you really want to rent this oasis in FiDi, you're going to have to give that sucker..er, I mean, future happy tenant, the full story eventually (possibly).

Ali r...I've noticed your comments on here and you seem sane and reasonable comes off a bit mysterious. Do u have an email address?..i have a question (if you dont want to give it that'sok)

I meant to say this particular post comes off a bit mysterious.

Slope, I am working with a renter now who is applying to take a sublet in a downtown co-op (not this one) and we have agreed that the paperwork required is more extensive than the paperwork that it took her to get into Columbia University. Board packages have 15-20 separate components, and they're pretty daunting if your alternative is a 2-page application form and a credit check.

For questions about this apartment -- I didn't mean to be mysterious, it's at 3 Hanover Square, you should be able to see pix here on this site -- or any other questions email me at work: ali [at] dgneary [dot] com

please put "streeteasy" in the subject line, because I get a lot of spam.

ali r.
---
Alison Rogers
Licensed Salesperson
DG Neary Realty
57 West 16th Street
NY, NY 10011

The problem is, in this climate it seems fewer people are willing to go through the hassle of renting in a co-op when they can get comparable deals elsewhere.

Well, that's what I'm looking for feedback on, what's the price point at which it's "worth it" to go through the hassle?

ali r.
{downtown broker}

Hi,

You know your business better than I do. So, bear with me if you%u2019ve already thought about the things I mention here.

Ok, so it%u2019s a hassle to fill out a board application. Consider scanning the whole application in your computer, then fill in all the generic info in the fields, even make a template for the reference letters. Then print it out.

Have a copy ready for anyone who shows interest and tell them to fill in the blanks; and get the ref letters; and then have them give it all back to you and then you put all the specific info in on your computer.

Assure them that this will be the easiest board application they will ever put together.

You could drop the monthly rent, but consider giving a month or two free rent, that way the owner can still have their monthly base in place should the market improve. What other concession, if any, can your client provide for a new tenant?

If the board application seems to be your biggest hurdle, try to alleviate some of the hassle.

Ali, I%u2019ve seen your posts and your website. You are thoughtful, helpful and appear sincere. You should be able to instill enough confidence in a potential customer in order to go through the process.

If I liked the apartment, and you said you%u2019d be organizing the application process so that I wouldn%u2019t be flustered or innundated with work (unlike some brokers who give a customer an application and tell them to fill it out and make 10 copies), I would definitely not let a board application stop me from going forward.

I mean you still have to provide ref letters and bank statements and landlord letter, etc.for a rental building.

Print out a one page fact sheet of all the advantages of living in a coop, too. There must be some people out there who will be ok with the extra effort of the board approval process.

Put the monthly rent at $1,500 or just below?

Good luck, if anyone can fill that vacancy, you can.

thanks Robert, those are all great ideas and v. helpful!

ali r.
{downtown broker}

You're welcome.

open house today (Sunday March 29) at 3 Hanover Square 4-A from 3 to 4 pm.

ali r.
{downtown broker}
646-322-6150

Ali: In general, many of the requests from co-op boards are nothing more than financial voyeurism. It is a rational decision to avoid this at all costs. Only when you finally need to open yourself up like this for a long-term purchase can it be described as a rational decision.

Why do co-op boards need ANY financial information on a renter? Isn't the owner still paying the maintenance and is responsible for it no matter whether the renter pays or not?

Patient & Modern: I went through this nonsense for a condo I was renting. I gave them very basic details, showed only one bank account (with alot of cash), one prior rental and one employer. They didn't check one single thing, not one reference, not the bank account, not the employer. They didn't even check my credit profile. I think in today's world the reality is that you can make up almost anything you want, no management company will ever confirm.

I have never served on a co-op board so I can only guess that the reasoning is that if you let your owners sublease to just anyone without a board approval process, then you break up the high standards that the building set up by using a board approval process to vet buyers.

Still, it's SO annoying when you're dealing with a tenancy.

ali r.
[downtown broker]

So how's this place selling Ali R.?

I'm looking for a studio and wouldn't mind FiDi.

Does this place have a listing on StreetEasy?

Hi Cmdr:

We are off market until after May 4 -- co-op board is meeting with owner.

After that, I think we have an app from someone who has seen it already, but as of this moment they technically haven't filed anything with me, so you should be able jump in line. We'd be talking about an early June occupancy, probably around the 5th. No pets.

Call me at 646-322-6150 if you want more details, or to schedule a showing.

ali r.
{downtown broker}