When demand is up the prices increase. When demand is down the prices decrease. Just look at places and if you find one that meets your criteria make an offer. Rents are negotiable. Also, when you come with dogs and cats a owner wants to assure themselves that if there is any damage done by the animal they can repair their place or recoup some of their expenses. Also, you can always look at rental around that particular area.

Mac,

Our recommendation is to check websites like craigslist.com or apartments.com or rent.net – look up similar units as there are always many on the market.

Best,
Dream Town

It depends...whats the sq footage and ammenities included? When I rented in that area all I paid for in utilities was my phone and cable - but I had a generous landlord. You can get all the comparables data you want from the Realty folks - but you should really think about things from the renters perspective. Its a 1 bedroom - which means a single guy/gal occupant & maybe their significant other. Lots of single folks can find roomates and share a bigger pad for alot less and depending on their circumstances - rents 15 minutes to the north and west are much cheaper. If you're renting to a student or career changer they may not renew with you based on your price. Its not that you're priced unreasonable - its that when paired with life's other expenses - the rent cost will come under the microscope. And dont t forget - salaries have all but frozen - many folks arent making what they thought they would and employers are paying alot less - and willing to hire those who will accept the lower salaries.

There are ideal renters with deep pocketed parents or newly divorced folks with hefty alimony income and folks that think $1400 is a steal because NY bedrooms are twice the cost - BUT if you're looking for a long term tenant - making the rent a tad lower could secure the occupancy and that may be worth more than the constant turnover from tenants leaving for cheaper pastures.

Whats the address? Email me and I'll check the comparables. The market is 5-10% down for sure.