Soft Rental Market?
I’ve rented 2 floor-thrus in my Fort Greene brownstone for the past 3 years with no problem, but I always use a broker. Suddenly, I’m having trouble. Has the bottom fallen out of the rental market already? Has anyone else had to lower rents? I’m probably going to list it on craigslist – any other…
I’ve rented 2 floor-thrus in my Fort Greene brownstone for the past 3 years with no problem, but I always use a broker. Suddenly, I’m having trouble. Has the bottom fallen out of the rental market already? Has anyone else had to lower rents? I’m probably going to list it on craigslist – any other ideas?
I assume you all have rental property then to be able to comment on this. While I did get a viable candidate from craigslist and rented an apartment to them which so far has been great, I also got plenty of people who’s financial background clearly shows they have no intention of paying any of their bills until they are chased or are so bordeline financially you wonder why are they looking at your place with that kind of rent demand or how many people are actually moving in when they say it’s just them or when the rent will stop coming (Month 2, Month 3..?) For this I have no time to waste and the brokers do the work for you. Some just walked when being presented with such applications and forms. One was so bold to tell me that I would not get any information on them as they only “Paid Cash” for everything. Yes “Winners”. I have but one criteria and that is the ability to pay. Professional tenants do exist.
Hi Lisa,
I’m actually looking for a new 2 BR apt in the neighboorhood as my little brother (16) attends Brooklyn Tech. My present lease is up in March. I have a good job, that is not going anywhere, we are a relatively quiet duo as I work all day and he has school and track and further, we have a small cat. Please email me at tiffytiffr@gmail.com if your apt meets the above.
Thanks,
Tiff
I am sure that if your rentals are reasonably priced, you will have no problem unloading them thru CL swiftly. Rob, etc are correct. These days, hardly anyone is going thru a broker for a rental because the fees just aren’t justifiable and people don’t have the money to toss out on a broker. And the old rumor that brokers had the “best” or “nicer” rentals is total BS, probably thanks to CL.
While I wouldn’t SCREAM IT SO LOUD, I tend to agree with Rob (and I’m a landlord). I’ve always FRBO’d the rental in our house. The prospective tenants are happy about no fee, I learn a lot about what they would be like as tenants from watching them look at the apartment and from the questions they ask, and I get a feel for the market. Much more info than you get distilled through a realtor (“they would be really nice tenants”). While a credit check is always prudent, every prospective tenant I’ve liked has checked out fine. No one needs a realtor to gain access to the market because nearly everything is on CL.
By the way, to the OP:
I know several people who are looking in Fort Greene right now who may be interested. Can you post more info on your rental?
No offense to non-human apes.
I agree with Rob – there’s no need for any renters to use a broker in Brooklyn, so as rents are falling anyway, why would anyone waste time on a place where you pay 15% of the annual rent just for some ape to open the door for you?
List it yourself, its pretty easy to screen. And in any event you’ll do no worse than an uninterested broker.
“Plan on seeing some real winners via craigslist.”
I don’t think that just because people don’t want to pay $4500 to a broker (for doing next to nothing) makes them any less of a “winner” than someone who does.
it’s pretty simple why you were having problems using a broker. NO ONE USES BROKERS ANYMORE! NO ONE WANTS TO PAY A RIDICULOUS FEE TO SOMEONE OF 12-15 PERCENT OR EVEN JUST A MONTHS WORTH OF RENT FOR DOING NOTHING! the word has been out for quite some time. apts with broker fees will not move for the most part and brokers are the new rotary telephones!
*rob*