Is rental market soft?
I am a brand new landlord in Central Park Slope, trying to rent out a 1500 sq ft duplex apartment — 4 Br, 2 Baths. Clean apartment, historical details, and a great location. Not in 321 school district, but prime Slope. Following the wisdom of this forum, I’ve been listing the apartments on Craigslist for…
I am a brand new landlord in Central Park Slope, trying to rent out a 1500 sq ft duplex apartment — 4 Br, 2 Baths. Clean apartment, historical details, and a great location. Not in 321 school district, but prime Slope. Following the wisdom of this forum, I’ve been listing the apartments on Craigslist for a few weeks now. I’ve had some interest in the beginning, but now the activity has slowed a bit. Is the market slow? There are very few comparable apartments, and prices very from $3K to $6K. What would you ask? Is this the kind of the apartment that better be marketed through brokers?
I was just getting ready to post the same thing as 3.50pm. Things are very slow I’ve had several people come to look at my apartments but no comittments. My apartments are borderline Clinton Hill/Bedstuy and I’ve never really had a problem but things are really slow right now….Price range 1600-1900. I know its not the Slope but the property is central to everything and nice.Not a bad block ! I hope u guys are right that things pick up in May.
Good luck all
4200 is too much.
Too much for craigslist
Too much for this market.
Too much for a rank and file wall street guy worried about how 2008 will turn out.
And yet, strangely, not high enough to make buying it with debt any better option than renting it.
its the time of the year. just wait it out till end of may. thats when things should pick up fast. also no pics is fine, i rented out my $1800 units with no pics over the years within days of posting on cl.
with slighty higher end i put pics.
It’s a brownstone, right? So one or two of those bedrooms are likely 6 feet wide, right? Better off to describe is as it is – 2 or 3 bedrooms, with 1 or 2 rooms perfect for home offices or nursery – and pricing it appropriately for what it is.
And posting ANYTHING on Craigslist without photos is just a waste of time.
Yep, I just did a Craigslist search – at 4200, your price is too high for market.
Bullshit. Many people rent “family-sized” apartments who aren’t families. (I am a single person who has owned and rented 3-bedroom apartments – I like having both an office and a guestroom. I know many like me, as well as couples, who like space, and are willing to pay for it.) And people with little kids move at all times of the year as well.
In my opinion, people are looking for rentals in NYC (including Brooklyn) ALL THE TIME.
Do you have pics of the apartment up there? Are they good ones? Do you have a good description, which gives the apartment seeker a good description of where the apartment is (if not the actual block)? Which trains it is near helps give an idea; also if it is near 7th ave, the park, or 5th ave. If you are looking through stuff online, you simply skip the ones posted by people who can’t be bothered to give enough information.
If you’re doing all that, then your price is likely higher than the market for similar apartments. (I notice you didn’t mention the price.)
Do you say “shares OK” in your ad? If not, you are cutting yourself off from most of the market. Most families looking for 4-bedrooms are looking to buy, not rent.
You have a an apartment of a size that is not often sought by families. Get creative. Post at grad schools, hospitals, etc. for working adults who want to share.
Good point, 5:11. School ends in May/June so OP maybe you should say in your ad that you’re willing to start a lease on June 1st.
Your marketing a family sized apartment during a time of year that families stay put. You have to rent it around the school semester/year changes.