Forum Archive: Posts by: msrenovation224

Hello all– I am new to this forum and seeking advice on renting out an apartment. We have been in Brooklyn since 2008, and our tenant (who came with the house) recently left to accept a job in another part of the country. She was paying what we believe was under market rate, but we’re not sure, so I’d like to ask your advice on what the going rents are in our neck of the woods. We have completely renovated the apartment since our tenant left, and it is on the top floor of an owner-occupied two-family. New kitchen, new bath, fresh paint, new floors, etc. We kept all of the old detail as well, so it definitely has some of the brownstone “charm” that people love about these old places. The only thing we haven’t replaced are the windows, which are in good condition. The apartment is a full floor of a brownstone, about 900 square feet and is very sunny and bright. It’s 1.5 bedrooms – one huge bedroom and one kid-sized bedroom, with living room, kitchen, bath. The kitchen has all new appliances, including a dishwasher, but no washer/dryer. We’re located in the historic district of Bed Stuy/Stuyvesant Heights, close to the Utica Avenue stop. I have been checking out Craig’s List for comparable apartments and how much landlords are asking, but it’s been difficult to make direct comparisons since nothing matches up directly in terms of location/renovation/size. Nevertheless, we are thinking of charging between $1400-1500 for the place. Is this overpriced? Underpriced? We’d just like to rent it at a fair price, so I’m hoping you might be able to give us an idea if we’re out of line. Thanks.