For Rent in New York>Question Details

Raffles, Home Buyer in New York

Will it be hard to find a tenant for a one-bed, one bath at this time of the year in November? This apartment is 800 Sq ft, fully renovated.

Asked by Raffles, New York Thu Nov 8, 2012

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17
Michael Richman’s answer
In New York City there are people looking for apartments throughout the year. However, while there is demand for rental units all year long, that demand is not spread out evenly over the entire year. We have just entered the slowest season which normally lasts until February. It will probably seem difficult relative to the spring and summer because there are fewer people in need of an apartment at this time of year. Apartments that are priced to current market conditions and are in move-in conditiion do rent at any time of year. In choosing a broker, it is important that you select someone who is not only experienced in the rental market, but also understands how to appropriately market apartments according to the season.
1 vote Thank Flag Link Sun Nov 11, 2012
Hello Raffles. Apartments in New York rent whatever time of the year it is as there is an extremely low vacancy rate. Even with your additional description below, it needs to be seen by a broker first before it can be priced. The square footage is very good for a one bedroom apt and it should rent quickly. The location, doorman and pet friendly environment are great features and will cause many to consider your apt.

Now, it is your turn to make a decision and get a broker in there to look then discuss. You have many to choose from and I ask for your consideration to list and rent your apartment. Keep in mind the renter will pay the commission fee, not you.

I can be reached through Trulia via e-mail or my direct cell number listed on my profile. Good luck with whatever you decide.
1 vote Thank Flag Link Thu Nov 8, 2012
Raffles, its been a strong rental market in most parts of New York City all year and in fact, last year this time was booming right through the holidays so this year may prove similar. In any market the key to successful rental is pricing according to the market you're in and giving the unit as much "curb appeal" as possible (meaning, painting if necessary, fixing items needing repair, upgrading out of date ot non-working fixtures if necessary). You can of course still find a tenant even if you are listing a unit that is in rougher shape but you'll take a hit on the price unless you are in a VERY sought after area. I'd be happy to help you understand the value of your unit if you like. Please feel free to call or email me. Charlie Summers, SVP, Bellmarc Realty 917-376-1648 or csummers@bellmarc.com
1 vote Thank Flag Link Thu Nov 8, 2012
Hello Raffles,

What makes an apartment difficult to rent is trying to get a rent higher than what the market dictates. There may be some truth that less people are looking to rent this time of year. But it you are priced correctly, there should not be difficulty in renting the apartment. Hope this helps. If you would like some analysis, please fee free to contact me.

Yul Park
RES Sales & Marketing Corp.
320 West 37th Street, Suite 301
New York, NY 10018
Cell: 917-647-2717
Fax: 646-537-2626
http://www.RESnewyork.com
1 vote Thank Flag Link Thu Nov 8, 2012
Hi Raffles, I have customers looking for one-bedroom apartment now. Please write me at kchung@kianrealtynyc.com and let me know which part of Manhattan you are at. May be it would be a good match. Thanks, Kris
0 votes Thank Flag Link Tue Nov 13, 2012
It will depend on the location and general appeal, although in general vacancy in Manhattan is less than 1% and rentals go fast. Before putting it for rent check with a broker about comparable prices in the building and the area to determine the correct rent amount. Let me know if you need assistance renting - I would be happy to help.
Elena Ravich
Rakita Realty
646 593 7207
0 votes Thank Flag Link Tue Nov 13, 2012
Hello Raffles:

I would suggest that you determine the minimum you will need to clear in order to cover your mortgage payments first and then we can address if the price you need to rent is within the market value. We can tweak the rental price to meet your needs depending on how quickly we need to rent it. My business focuses on a majority of the financial institution relocating new recruits so I do 1000s of rentals a year.

I would be happy to provide you with a comprehensive market analysis if you would like to discuss your rental in more detail over the phone. Please feel free to reach out to me.

Warm regards,


Christie Yamron
Broker / Owner
CNYC PROPERTIES, LLC
Manhattan
108 E 31st St. Ground Floor I New York, New York 10016
O: 646 559 1796 I M: 786 797 6777 I F: 917 591 8260
0 votes Thank Flag Link Sun Nov 11, 2012
Raffles,
Obviously it will be very easy as there are so many displaced from their homes due to hurricane Sandy here in lower Manhattan, Brooklyn and elsewhere in the tri-state area- some who are displaced temporarily for a month to 6 months in Fidi and some permanently as their homes have been completely destroyed.
0 votes Thank Flag Link Fri Nov 9, 2012
Depending on location! I don't believe you will have a problem renting it as there are always people moving in this city.
0 votes Thank Flag Link Fri Nov 9, 2012
Hello Raffles, it sounds like a very well-renovated unit and a great location and building. I'm familiar with some of the buildings in the 400 block of East 64th - if possible, would you be able to shoot me an email with the exact address? I can price it for you.
Charlie Summers, Bellmarc csummers@bellmarc.com
0 votes Thank Flag Link Thu Nov 8, 2012
Hello Raffles,

What is the address?

What floor is it on?

What is the exposure?

Could you email me pictures?

I will run a Free CMA (Comparative Market Analysis) for you.

Thank you.


Best Regards,

Raoul Sodogandji
Member of ELITE
Licensed Real Estate Agent

(o): 212.252.8772 (EXT.782)
(c): 347.993.8333
(e): raouls@nestseekers.com

" It is common in all businesses that the level of customer service, is usually based on income generated from that service given; which is fairly unfair to those who need just the same service of selling, buying or renting in New York City.

That's one of the reasons why we came up with ELITE. It is the highest standard level of same service given from a $2000 rental to a $40 Millions sale, and instead of treating the customers differently, we've decided to give them the ELITE service.

Let's help you with our services, no matter your budget, what you are selling or want to buy, we will give you and your referrals the same best experience ever lived. "
0 votes Thank Flag Link Thu Nov 8, 2012
just to clairfy I do not intend to rent this out myself and will need help from a broker. But I need to do my math to make sure that my mortgage payments are covered (or not) by the "projected" rental I can get.
0 votes Thank Flag Link Thu Nov 8, 2012
More details on apartment: The apartment is on 64th street between right off First Avenue. Fully renovated with new custom-made california closet, Robern and Ronbow bathroom fixtures, moldings, custom made bookselves (white), all new kitchen granite counterpart and new appliances.

Its a doorman building. One pet allowed.

How should this be priced?
0 votes Thank Flag Link Thu Nov 8, 2012
No it would not. Yes, there are fewer people looking for an apartment, but there is also less inventory. As long as it is priced and marketed correctly, it should rent.

Please let me know if you have any other questions.

Thank you,
Sergio

Sergio Ayo
Bond New York Properties LLC
1776 Broadway 19th Floor
New York, NY 10019
Office: 212 582 2009 ext. 502
Mobile: 917 678 4164
Email: sayo@bondnewyork.com
0 votes Thank Flag Link Thu Nov 8, 2012
Probably not. However without other specific information such as location, condition, amenities, requested rent, and terms it's hard to provide an accurate answer.
0 votes Thank Flag Link Thu Nov 8, 2012
Maybe not. As a result of Hurriane Sandy, many people are displaced. It will be temporary but you may get more than usual from the tenant's insurance company which could get you over this typically slow period of time for rentals.
0 votes Thank Flag Link Thu Nov 8, 2012
Hi Raffles,

It should not be. Feel free to contact me if you would like me to market and rent your apartment.

Best,


Laura Thierer
Licensed Real Estate Agent
Ardor New York
c: 914-426-0075
Lthierer@ardorny.com
0 votes Thank Flag Link Thu Nov 8, 2012
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