Rental Q&A via the NY Times

“The Rights of Condo Renters”

“Common Charges and Tenants”

“Retirees See the Value in Rentals” via the NY Times

I love this article that appeared in last weekend’s NY Times Real Estate section. Although it covers New Jersey, the discussion of retirees chosing to rent rather than own hits many of the points I try to highlight on this blog–namely, the burdens that can sometimes accompany the responsibilities of homeownership. Home-ownership is less attractive to older adults seeking lower taxes  (which are paid by their landlords); freedom from home maintenance chores such as gardening and snow-shovelling, not to mention that all the bad publicity about mortgaes and the housing crisis has been making being a renter more appealing.

Rental Q&A via the NY Times

“When it’s permissabile to break a lease”

“The rights of roommates”

Media Coverage of Citi-Habitats October Market Report

Ny Observer:

“Still Gotta Pay to Live in Manhattan”

“Renter’s Market in Manhattan? You Betcha!”

Curbed:

“Cheap LES Studios Still Not That Cheap”

Manhattan Vacancy Rates By Neighborhood: August 2008

West Village bucking the trend, with a vacancy rate hovering around 50%. Vacancy highest in the UWS, unsurprisingly the vacancy rate in the Financial District and BPC is also higher than May.

See also: Manhattan vacancy rates by neighborhood, June 2008

Manhattan Vacancy Rates Continue to Rise.

Manhattan is still a place where people want to live and where many people have to live because of their jobs. In the late 1990’s, vacancies hovered around 4%, and anything under 5% is still considered to be an extremely tight market. We’ve all gotten used to a frenzied, feverish tone being attached to all things real estate, whether the market’s going up or going down. On this chart we can see the gradual and steady rise of vacancies since May. Anyone think we’re gonna hit 4% by the middle of winter?

See also: Manhattan Rental Market Vacancies, June 2008

How Does Your Rent Compare? Citi Habitats Releases August Rental Market Report

Gloom! Doom! Etc, etc. Vacancies are up, apartments are sitting on the market longer and renters are being offered ever more incentives to sign on the dotted line. The higher end of the market is definitely the most negatively affected by the economic slowdown and the problems on Wall Street, so it’s no surprise that the Financial District and Battery Park City are currently the best neighborhoods to cash in on landlord-offered incentives like a free month’s rent and no broker’s fee. Units that are priced competitively in relation to market conditions, apartments that are located in  desirable neighborhoods like the West Village or are exceptionally renovated are moving as quickly as ever. Now, on to the charts! When compared to the chart of average rents in June, the table below shows some contraction in the one-,two-, and four-bedroom categories, but a small increase in the price of three-bedrooms.

Luxury Rentals = Gated Communities?

This past weekend the NY Observer made the assertion that luxury high-rise rentals are the NYC version of suburban gated communities. Private, privileged, serene, staffed; some buildings do seem to offer the New York version of the house with a lawn, garage and pool in the backyard but at a price. Read the full article here.

What are the Top Five Things That Renters Look For?

Courtesy of Apartment Therapy. Obviously, the top five things are not the same for everyone but there were a lot of repeats: on-site laundry, nice kitchens and baths, aesthetically neutral decor and storage space were high on many people’s lists. What are the main features you desire in a rental apartment?

“How to Cope with the NYC Rental Kitchen?”

This question is brought to you via Serious Eats…

Rental Q&A Courtesy of the New York Times

“Paying Moving-Out Fees in a Rental in a Condo?”

“Stunned By a Lease with a 25% Rent Rise.”

Luxury Rentals Offer Tempting Incentives

As the economy slows, large luxury rental developments are having a more difficult time attracting tenants. In order to remain competitive these buildings are offering a range of perks from covering moving expenses, paying broker’s fees and waiving security deposits to free morning breakfasts and maid services. Some are even offering up to two months free rent!

Read the full NY Times story…