It seems like everyone on the planet is scurrying to find an apartment

  1. June 6, 2017

    I am surrounded by madness. It seems like everyone on the planet is scurrying to find an apartment. My phone doesn't stop ringing, the requests for help land in my inbox like pouring rain during a thunderstorm, and those lucky enough to have my cell number have resorted to texting me messages like "Do you think its realistic to be looking for a one bedroom in a doorman building in the Flatiron District for less than $3,000 per month?"

    I find myself being as much of an advisor as I do someone who matches a person or persons to the right apartment. People never, and I mean, never have an accurate idea of the real rental price of an apartment.

    "I saw 20 one bedroom apartments priced below $2500 on the Upper West Side," one woman insisted.

    "Did you actually walk into those 20 apartments?"

    "No, they were online."

    People trust the wrong source and therein lies the problem. They rely on misleading information found randomly in online ads to gauge the rental market.

    Almost 95% of anything anyone sees online is misleading. Maybe 5% of the ads one stumbles upon online are real. The rest are intentional baits. Come-ons. Hype. Lies. Garbage. Some are merely left over ads for apartments that are already rented. Sadly it means that anyone looking for an apartment (even someone who has rented in the city before) will have an 'ouch' moment when they realize what the truth is.

    It will always cost a little more than you think and if a person's budget isn't expandable it means that person will have to be open to a different neighborhood.

    For my AptStar Program I have to weed out people whose expectations are completely in the Land of Oz. I don't have an apartment making factory in the back room (although at times I certainly wish I did).

    I just spent an exhausting week finding the perfect apartment for 4 different clients. And each one was incredibly happy with their choices.

    "I love this building. I love this apartment," a first time renter squealed into the phone just before applying for the second apartment he saw on his search day.

    It may have cost him an extra $150 than what he wanted to spend as his initial max rental amount but he saved over $7,100 in broker fees -- meaning he's actually saving money when it's amortized during the course of the rental period.

    So in the end the apartment cost him $500 less per month than it would have cost him had he done it any other way.

    My day has begun. Its beautiful today. Seventy degress and sunny. My phone is ringing, my inbox is full, and I have text messages to return. New clients want their apartments and I'm going to find the perfect one for each of them.

    Rental season is so here. If you're one of the many searching for a new apartment this summer, slow down, and breathe, it's going to be okay.

    Love,

    Kirby


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