NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

DeniseMang Posted: Mar 06, 2003 03:11 PM

NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

Hi girls. I have a question. Does anyone know what a one bedroom apartment in North Babylon goes for? This apartment has a huge bedroom (closet space GALORE), a FULL bathroom, living room, and full kitchen. It is also the second floor of a back dormered cape (so rooms are big). Any realtors out there, Marcellabella? It is also located in the Poet Section of North Babylon (nice block, neighborhood).

We don't want to overcharge but on the same token, we want to get what it is worth (we really need that extra income).

Any suggestions would be greatly appreciated.

Thanks.

Denise

MarcellaBella Posted: Mar 06, 2003 03:15 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

I would say easily 9-950.. but I'd have to see it hun.. That's what I got my gf for the apt in her upstairs..

DeniseMang Posted: Mar 06, 2003 03:20 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

Well he is already living there now with the owners we are buying from. He is paying $850 now, but his mother is friends with the woman he is renting from. I am sure he expects to be increased. I want to do $100 to $950 but my hubby thinks that is too much of a jump off the bat. He wants to do $900. What do you think of $925 maybe? I know you would have to see it, but its a really decent ap't. Not brand new appliances and stuff, but not shot down, you know. I would live there.

littlecat Posted: Mar 06, 2003 03:24 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

1000 - 1100

MarcellaBella Posted: Mar 06, 2003 03:26 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

I think I can almost visualize what it looks like.. tell him 950 or even 975 you can always negotiate.. when you buy a house, you DON'T have to keep the tenant.....

VickiC Posted: Mar 06, 2003 03:28 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

I wouldn't pay $1000 for a one bedroom apartment anywhere. I'm renting a two-bedroom in Massapequa that is 3-5 years old for $1000. It's not brand new appliances either, but the rest of the place is. And yes, I do realize that we were VERY lucky in finding this apartment - because it could easily go for $1200-1300 a month.

I would think that what he's paying now is appropriate, or maybe $900.

bethsiar Posted: Mar 06, 2003 03:28 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

I would definitly say it would go for at least 1000 min. If you want to be nice to him, charge less, but there is definitly someone else who would easily pay more than 1000 for that. My friend is a realtor and she told me every single year apartment prices go up by at least 10%. House prices are going down, but apartments are going up because they aren't being built. There is a limited amt available. I don't know a single person paying less than 1000 per apartment and that includes people in Manorville!

DeniseMang Posted: Mar 06, 2003 03:29 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

Oh yeah that I know. But he seems like a nice guy and wants to stay and we got positive feedback for the current owners. That is why I am so worried because i don't want to charge too much that he leaves, you know. Its hard to find decent people in this 'crazy' world.!

MarcellaBella Posted: Mar 06, 2003 03:30 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

Denise, I can find you someone, that's NOT a problem!! don't worry about that...

Question: do you have a sep set up or does the rent include utilities...

DeniseMang Posted: Mar 06, 2003 03:32 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

Oh I know that, and I would trust your judgment completely, sweetie. But we did tell him he could stay.

I don't know what to do!

DeniseMang Posted: Mar 06, 2003 03:32 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

The rent includes ultilities and all!

Betty Posted: Mar 06, 2003 03:33 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

I would say at least 1000 for a 1 bedroom with big rooms. My roommate was just looking (nassau) and they were all over 1000. She even looked at studios for 1000

MarcellaBella Posted: Mar 06, 2003 03:33 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

I would tell him 950-975..

DeniseMang Posted: Mar 06, 2003 03:35 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

Ok, thanks. I think that is what we will do. Say $975 and that way if he negotiates we can go down to $950. Thanks so much for your help, I will let you know what happens!

littlecat Posted: Mar 06, 2003 03:36 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

I didn't know there was someone already there. How much was he paying?

You can still raise it a little. If he is not a problem and pays the rent on time you definately don't want to drive him out.

My mom rents an apartment. It is 2 1/2 rooms (a bedroom, livingroom/kitchen combo and she gets 900. If you want someone new I would at least charge 975 because it sounds like your place is bigger and you don't want to attract deadbeats with a low asking price. That is why I said at least $1000

Suzanne Posted: Mar 06, 2003 03:39 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

Denise, if you like him and they have given him a good reference KEEP him, good tenants are VERY hard to come by.. You would definatly not want to loose him and get someone who is loud, or rude, or worse DIRTY, and then you have to worry about bugs...

DeniseMang Posted: Mar 06, 2003 03:41 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

Yes, this is why I am having such a dilemma. I want to charge what it is worth because obviously we are doing it becuase we need the money, but on the other hand, I don't want to drive him away. Although I don't think I would going up 100. I don't think he is going to find anything for $950 like he has. Plus the hassle of moving and he says he loves the location becuase he is only 5 min. from his job. So......

wacky Posted: Mar 06, 2003 04:10 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

Marcellabella, I didnt know you were doing real estate now.

My mom had an appt for rent, we would have given you commision.

Shoot.

Buttafli1277 Posted: Mar 06, 2003 04:22 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

My FH and I bought a house in N. Massapequa. We're also planning on renting the upstairs as well. It's a one big bedroom w/airconditioner. full bath, and kitchen/livingroom combo with another air conditioner. We were planning on asking $1200 including utilities. Is that too much??

bride04 Posted: Mar 06, 2003 05:02 PM

Re: NWR-APARTMENT RENTAL - WHAT TO CHARGE, PLEASE HELP!

Denise--I think you could easily get $1000 as long as it is in good condition. I would go a little lower though if you want to keep the tenant. Good tenants can be good to come by. Besides, noise, cleanliness, etc. you have to worry about getting the rent $ on time.

Jennifer--I think $1200 is a lot, especially if it is only a kitchen/LR combo. You could try though. You never know what someone is willing to pay. IMO, I would think $800-900 is more appropriate.