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July 29, 2009
Need Renting Advice
I'm in the process of selling my beautiful apt. in prime Park Slope in order to lower my monthly expenses. As I'm closing in on my closing date I ran out of time for a place to buy and just switched my gears to looking for a rental. The problem is I've been an apt. owner for 24 years and only rented one apt. briefly prior to then. I'm feeling overwhelmed and underwhelmed at the same time with what seems to be out there. I'd love to figure out how to tell good deals from scams on CL, for example. And while the general consensus is that it's a renter's market out there, I'm finding it difficult to convince some brokers to even show apts. I'm looking in Park Slope/Windsor Terrace/Greenwood Heights/Prospect Heights/Kensington (close to Prospect Park). Thank you for any advise, leads or even broker recommendations.
Comments
I know of a good rental agent. He can be reached at adamtorres86@gmail.com or 321-946-5389. He specializes in the area that you are looking to rent in. He has no fee and fee apts. Let him know Gowanus_Bklyn refered you.
Posted by: Gowanus_Bklyn at July 28, 2009 9:33 PM
If you are from Brookyln then try to focus on "by owner" listings at first. It's the height of the rental season so many brokers besides (some)being lazy, are probably overwhelmed, you should focus on 15 days before you need to move, telling a broker or owner that you're looking for sept 15th isn't going to get you many callbacks. Anything, esp over $50 you should pay by M.O or cert check. Eventhough, you're coming into some cash, get your paperwork sorted so when you see something you like, you can pounce asap. Good Luck.
Posted by: Crownlfc at July 28, 2009 11:10 PM
Gowanus_Bklyn (or, perhaps, Adam Torres): 321 is a Brevard County, FL area code...specializing in brownstone Brooklyn?
Posted by: vinca at July 29, 2009 1:19 AM
I am in the same situation as you. We are supposed to close on our house in PS at the end of August(still waiting for a close date) so I have started looking for a rental apt (1-2 BR) in the Park Slope/WT area. After seeing 3 apts last weekened, we have now switched gears to trying to find a condo turned rental as I was shocked at the prices building owners were asking for not well kept apartments.
I have given up on Craigslist as I find so many listings to be suspect. I can never seem to find the real listings by owners, so if you do- good luck. I have been checking the major brokerages websites daily and then just reaching out to them via email. This week I found many of the agents to get right back to me as they are now starting to fill apartments for Sept 1, whereas when I was emailing last week inquiring about a Sept 1 move in date, I was pretty much ignored!
So I would go on the sites of Corcoran,Warren Lewis, Ideal Properties,Prudential Elliman and see what you can find
Good Luck, you will find something to your liking am sure
Posted by: gemini10 at July 29, 2009 8:41 AM
I would also look at the major realtors websites...and check out the new construction rental bldgs where you may get break on realtor fee/rents on initial lease.
Posted by: Petebklyn at July 29, 2009 9:18 AM
How long for? My 1-bed in PS is vacant as of Aug5 and, due to my dithering about converting (forum post about joint ownership), I cannot rent it long term, but it may work for you.
cmurthi [youknowwhat] seeinggreen.net
Posted by: cmu at July 29, 2009 9:25 AM
Sorry that I have no specific advice except to note that my block of oldtimers, when not using word of mouth, mostly continues to use the brokers they have used for years: Warren Lewis, Heights Berkeley Realty and Brooklyn Properties. There are a few owners who use Craigslist, but most do not. This is the case, even realizing that the economy and market have changed, and that renters are hard-pressed to pay realtor's fees in addition to first, last and security. In recognition of the latter, rents have been reduced, or some other wiggle room provided to well-qualified tenants. Can't say that this is what you'll find across the board, just saying that this is what's happening on my block in PS. Good luck with your apartment hunt.
Posted by: vinca at July 29, 2009 9:33 AM
There are good listings on craigslist, but you have to wade through the crap and check a few times a day to keep up with it.
It really helps if you filter your search.
This link (using Brownstoner's nifty url shortener):
Will call up a list of 1 bedroom and larger no fee listings in park slope.
The best way to further thin out that list is to put in price min/maxes. If you are looking for something in the 1700-2200 range, don't waste time looking at 1450 apartments, because you probably won't like them.
You can then bookmark the search results page and every time you go back to the bookmark it will do a new search with those parameters.
I usually click on the top ad, whether I'm interested or not, just so my browser turns the link purple and the next time I check I can easily see what was the last ad I saw.
The signal-to-noise ratio is awful, but there are plenty of legit ads. I think some brokers intentionally spam craigslist to make it confusing and less useful for people.
After you read a few hundred, it's pretty easy to spot legitimate ads.
As for brokers... I haven't bothered with one yet, although if I get to the end of August and am not satisfied with what I'm finding I might.
In 2007 when I last apartment hunted, I thought I was treated well by brokers from Brown Harris Stevens and Boerum Hill Realty. I was ignored, neglected or treated badly by brokers from a few other realtors. The broker from ArdorNY was particularly useless, rude, and annoying.
Watch out for realtors who try to charge you a fee for rentals that you could easily get on own for no fee (i.e., the realtor searches craigslist, finds an add for a no fee apartment, then takes you there and expects a few thousand dollars).
Good luck.
Posted by: northsloperenter at July 29, 2009 9:41 AM
I own 2 places that I rent & would encourage you to slog through CL. Brokers' fees, etc. are horrendous & it should be worth the work you have to do to avoid them. Also, if you meet the owner of the place you'll rent you get a better idea of how good a landlord he or she is.
Posted by: Arkady at July 29, 2009 10:02 AM
I've never had a problem in the past distinguishing owners posts from obvious brokers-posing-as-owners posts. Even ones which do a good job, you can tell within 20 secs of calling them. Perhaps you can post some and we'll point out the clues!
Posted by: dittoburg at July 29, 2009 10:06 AM
In Windsor Terrace at least, it is a lot of word of mouth. Have you tried the neighborhood listservs? I often see owners of 2 families renting an apartment through those?
Posted by: WTbound at July 29, 2009 10:07 AM
Screw CL. Stick to the Times. Skip the listings that don't locate themselves. The rental market is still in it's early stages of crashing so it might still be worth it to pay a broker's fee if you're that pressed for time (Hell, you're that much richer if you didn't get caught up in the REFI Ponzi) . Check cafes in the area too. Good luck. You'll be glad you didn't buy (historic boom/bust - take profits!). Wait till NY Case-Shiller stabilizes, YOY.
***Bid half off peak comps***
Posted by: Brownstones Half Off at July 29, 2009 10:18 AM
I'm an owner with a rental in Carroll Gardens and always use my broker (alan from Prudential Elliman) simply so I don't have to do all the background checking myself. I bet many owners do the same for the same reason - it's just less work. However, I think the best apartments (which my rental is not) are always rolled over to friends of the tenants that are leaving, which is why it's so hard to find good ones...
Posted by: gkw at July 29, 2009 10:20 AM
I recommend David Ogden at Mark David in Soho. Tell him Wendy sent you :)
Posted by: Tinsel5000 at July 29, 2009 10:23 AM
As someone who is looking (but in the Cobble Hill/Carroll Gardens area) I'm very much appreciating the tips on who to use to look. Please keep them coming!
Posted by: UnRed at July 29, 2009 10:35 AM
Don't waste your time with a Manhattan-based broker. Go with somebody who actually knows the neighborhood. I liked Ideal Properties on 7th Ave:
- http://idealpropertiesgroup.com/search/rentals
Posted by: DitmasSnark at July 29, 2009 10:43 AM
the owner pays the broker fee now. Use a broker! Most of the landlords that use Craigslist are a huge pain in the Arse to deal with.
Posted by: brickoven at July 29, 2009 10:46 AM
I have the impression that rents are much more negotiable than they used to be. A friend is a landlord in Windsor Terrace, and she told me that nearly everyone who was interested in her studio apartment recently offered a lower rent than she was asking. She ended up lowering the rent by $200/mo in order to get a person with a good job and strong credit. (And, even though it is a beautiful, recently renovated apt with a deck on a quiet street, she had a hard time finding renters). So, I'd say to look at places that are slightly above your range, and if you find a place you like, make a pitch for a rent reduction on the ground that you are a stable, mature, responsible renter.
Posted by: Lesloaf at July 29, 2009 10:50 AM
Wow! Thank you all for taking the time to answer my questions and relate your situations!
Gemini10, how are you finding contacts for condos/turned rental? Through brokers? Good luck to you to!
Northsloperenter, your tips about Craigslist are very helpful.
WTbound, can you recommend specific listservs in Windsor Terrace? I'm not familiar with any of them.
Is anyone familiar with Destination Real Estate? I found them through CL. They have good photos and videos on their website and charge 10% as opposed to 12 or even 15% that big brokers charge. I haven't looked at any of their apts. yet.
Also, I went to see an apt. in Lefferts Garden yesterday, which I found on a flyer in a PS laundromat. It's a beautiful 2-bedroom condo being rented by owner for the price of a studio in PS. It's the first apt. I've seen so far in my search that was true to advertising, I just don't know if I'd be comfortable in Lefferts Garden.
Posted by: NewToRenting at July 29, 2009 11:00 AM
I like lesloaf's strategy.
Posted by: DitmasSnark at July 29, 2009 11:01 AM
"Screw CL. Stick to the Times. "
What the heck are you talking about BHO? Do you honestly think you can use the Times to find apts. for rent in Brooklyn?
What year do you think this is? 1989?
Posted by: northsloperenter at July 29, 2009 11:13 AM
I agree re: lesloaf's strategy. In addition, if you find yourself stuck, these sublet sites have been recommended on the forum in the past:
http://www.sublet.com/
fortgreenkidslist@yahoo.com
http://groups.yahoo.com/group/ParkSlopeParents_Classifieds/
http://www.homeaway.com/
http://newyork.backpage.com/online/classifieds/index
http://www.villagevoice.com/classifieds/ (powered by backpage)
Sublet board at the Park Slope Food Coop
http://www.vrbo.com/
http://harmonycity.com/
Posted by: vinca at July 29, 2009 11:16 AM
Am actually dealing with a jennifer from Ideal who happens to be really nice on email and very forthcoming about certain apartments details and location
so far so go
plus she got back to me very quickly
Newtorenting:
well I saw many of the large brokerages have apartments for rent at the Elan on first btwn 4th and 5th avenue, and many have rentals listed for the bldg on 19th and 4th - not super ideal - but you seem to be in a similar situation that you need a temp place to rent that is nice until you buy something new!
Do not use Ardor or Rapid Realty - they are both horrible
Posted by: gemini10 at July 29, 2009 11:18 AM
"Is anyone familiar with Destination Real Estate?"
Never heard of them, but their web site is certainly nifty.
They list individual room sizes for the apartments, which is useful if accurate, but they also list an apartment on Hoyt street and one on 24th and 4th as being in Park Slope, which is dishonest.
Not sure what to think of them.
Actually, I just Googled them and found some negative reviews on Yelp:
Not sure how much faith to put in a few random reviews on Yelp, to be honest, but, like any smaller broker, I'd be careful with them, esp. if they start asking for money.
Posted by: northsloperenter at July 29, 2009 11:26 AM
"Do you honestly think you can use the Times to find apts. for rent in Brooklyn?"
Yes.
***Bid half off peak comps***
Posted by: Brownstones Half Off at July 29, 2009 11:30 AM
BHO -- OK. But you are wrong.
Posted by: northsloperenter at July 29, 2009 11:32 AM
BHO - do you mean NYtimes.com?
perhaps the webiste might have updated rental listings as the brokers would have to pay for the ad....
Posted by: gemini10 at July 29, 2009 11:38 AM
No, northsloperenter. You are wrong. There are plenty of listings on NY Times. You'll have to pay a broker's fee because the listings are expensive (they at least have to recover that cost plus the effort). Maybe streeteasy or something else is better. I don't know. But the Times is absolutey doable. I know people who have had luck renting or renting out.
NewToRenting - Let us know if the Times works for you.
***Bid half off peak comps***
Posted by: Brownstones Half Off at July 29, 2009 11:38 AM
I've heard Awaye realty is good (NOT!!)
Posted by: dirty_hipster at July 29, 2009 11:58 AM
I've always had the best results when using small local brokers who know the neighborhood.
Posted by: dirty_hipster at July 29, 2009 11:59 AM
Okay, no-fee aside, what online resource beats the NYTimes.com for the most efficient rental search?
***Bid half off peak comps***
Posted by: Brownstones Half Off at July 29, 2009 12:05 PM
The listserv I am thinking of is KWT at yahoogroups. There are lots of these very nabe-specific yahoo groups that post listings periodically, and you can always post an ISO on them.
Posted by: WTbound at July 29, 2009 12:18 PM
BHO -- I see while you are waiting for sale prices to drop by 50% your approach to rental pricing is "just let the renter get screwed".
The NY Times print edition, is worthless. NYTimes.com has a bunch of properties brokers are highlighting. They are listing the same properties on craigslist.
craigslist has everything nytimes.com has and more.
Posted by: northsloperenter at July 29, 2009 12:22 PM
I'm a brownstone owner/landlord in Boerum Hill and I often advertise my available apts. on CL. The last time one was empty, I saw a note on the local listserv from someone looking for an apt and ended up renting to them before I even had time to post an ad. I get a lot more inquiries from CL than I ever got from the NY Times. I don't like giving my apts to a broker as it means the tenant has to pay a huge fee. I don't find that the brokers do much due diligence. It's very easy for a landlord to vet tenants themselves.
Posted by: coppermaven at July 29, 2009 12:32 PM
Speaking of realtors trying to get people to pay a fee for a no fee apartment on craigslist...
I just stumbled on this which I recognized because I the original "no fee" ad made me post about people expecting cash for security deposits.
Now I see Corcoran is listing this place under the "broker fee" section of craigslist.
Original 'no fee' ad (which is fishy in its own right):
Newer Corcoran 'fee' ad:
Interesting stuff...
Posted by: northsloperenter at July 29, 2009 12:33 PM
UnRed, I highly recommend Jeff Gallo at Corcoran in Brooklyn Heights. I've used him twice with great success.
Posted by: CarrollGardened at July 29, 2009 12:36 PM
If you're going with a broker, stick to the old ones with a storefront in the neighborhood you're looking. They have connections and they are legit.
The guys who pose as owners on CL aren't even licensed brokers. They are scam artists.
I have had good luck with the owners-only section of CL. Most of the listings are bogus, but you can weed them out in ten seconds, either by reading the ad or talking on the phone. If someone posting as an owner says they're a "management co," forget it. They're unlicensed and they'll ask for a broker's fee later. You may not even wind up with an apt.
Most of the real owners either post (1) very terse ads, such as "one bedroom, first, last, must have good credit" or (2) information-rich ads with lots of info and photos. They'll say things like "We live in the building, so respect is important to us." And "No brokers."
If there's a lot of hot air and sales talk, it's a broker ad.
Posted by: mopar at July 29, 2009 5:31 PM
Not sure if anyone will see this here after so much time, but I just wanted to update you all who were so kind and helpful with your advice. I signed a lease on a small, but lovely one bedroom in Windsor Terrace, which I found on CL by owner.
Posted by: NewToRenting at August 27, 2009 11:42 PM
Congratulations, that is awesome. Hope you will be very happy in your new apartment.
Posted by: mopar at August 28, 2009 12:04 AM
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