Thursday, June 12, 2008

Increased Activity

This is the peak rental season. Once Memorial day came and went, I noticed a lot of out of people who came into town to vacation, were multi tasking and getting the good apartments. This happens every year and it leaves the native New Yorkers scrambling to find suitable housing. You'll notice the number of posts I can enter here has dropped off monthly as well. Quite simply, if I am out showing apartments, it makes it tought to sit at the desk and write!

I have noticed that there is a shorter timeframe of apartments sitting vacant that are well priced and in good locations. This is normal for this time of year as well. The only size of apartment that has dropped at all in the past year is the one bedroom. All other sizes have increased this year.

There are a lot more "OP" concessions being offered at this time of year than normal. This indicates that the landlords are looking to fill the units as fast as possible. These units are usually a little higher priced, due to superior location, level of amenities and quality. In the end, the old addage is true, you really do get what you pay for. Even if you don't pay our fee directly, you will have a higher monthly rent that you pay the landlord.
Feel free to write with your thoughts and feedback.

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