Renting Out Apartment in Two-Family House
Our wonderful tenants of many years will soon be moving out of state, so we will be looking for new tenants. Are there any new landlord/tenant rules from the last year or two we should be aware of? What about the eviction moratorium? Anything new we should do? Thank you.
cate
in General Discussion 4 years and 7 months ago
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cate | 4 years and 7 months ago
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Thank you for the Listings Project rec.
firsthome | 4 years and 7 months ago
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I just found out a week ago that my tenant is moving out of state too. I listed on Listings Project this last week, had over 20 people email me and 4 applications within days. I was floored by the response, never had that much interest before. I highly recommend Listings Project over any other platform for their quality of applicants.
cate | 4 years and 7 months ago
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Thanks everyone for this excellent advice. The situation doesn’t sound pretty for the landlords. We always rent no fee but we do like to take first and deposit.
dorkofwindsor | 4 years and 7 months ago
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“Anyone looking is flaky”
1000% agree. window shopping is the new normal. Call existing tenant to find a good time for a viewing, then email back prospective renter —> ghost. This is happening for 80% of inquiries.
So we made a video and now send that out first, if they are still interested I will schedule a viewing. Obviously verbally asking if the person is employed and not in arrears on rent before viewing is a given.
evan | 4 years and 7 months ago
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Hi Cate – separate from rules/regulations, but given the overall climate that no-permitz describes, if you’re planning to try renting the apartment out yourself (vs w/ a broker) we’ve found that Craigslist is unfortunately turning up fewer promising applicants than usual. I might recommend the Listings Project (https://www.listingsproject.com/) which is actually a weekly newsletter that renters subscribe to; seems to attract more serious applicants and we have friends who swear by it. Good luck!
yudashasom | 4 years and 7 months ago
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Supply is high, rents have slightly fallen. Anyone looking is flaky, making wildly low offers, playing the field and looking months out. A month or two and no fee are the norm.
Make sure you can verify they are currently employed, have some money in the bank. Since they live in your house/with you, meet them. Don’t take any chances on people with weak financials (esp. now that you can’t collect extra security and of course the eviction ban).
And there’s always an adjustment period with getting to know new tenants/them getting to know you. It will take time to adjust. Set the rules/expectations up front, or early on.
StreetEasy charges $6/day to agents for rental listings. Can you believe that?! It’s really terrible. So many don’t even want to take rental listings at this point..
cate | 4 years and 7 months ago
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Maybe no-permitz, ironballs, arkady or one of the other landlords on the forum might have some thoughts. Thanks.