Seeking the right tenant within New York City is always difficult, but it is tougher nowadays. COVID changed everything for everyone. Rents, which used to be sky high in the New York real estate market, were suddenly affordable, yet there were no takers to rent them.
Even though the peak of COVID-19 happened two years ago, its ramification is still felt today. There are complete apartment buildings that are finding it difficult in leasing their units. Residential real estate and multi-family real estate felt the biggest burden of this scenario.
If you also have a vacant NYC apartment that you are looking to rent out but don’t know how to, we are providing examples of exactly how to achieve that.
Be Flexible in Negotiation
Before COVID, three things were guaranteed to happen. Death, Taxes, and NYC apartment raising its rents every rent cycle. However, things changed, and the sooner you understand and make peace with this notion, the better chance you have of renting your vacant apartment out.
Now you cannot expect the same high rents that you were once used to. You need to negotiate and be flexible in the offer you get. Because at the end of the day, you have two choices: settle for the new normal or keep your apartment vacant and earn nothing hoping to earn the same rent you once used to.
Provide As Many Answers As Needed
Attention to potential renters and how deeply you care for their inquiries can go a long way in a renter choosing you over others. This is why we believe if you want to be competitive in the current market, you need to provide as many answers as the potential renters might have, and that too with care.
If they see you as a trustworthy landlord, then the chances of them picking you over others are significantly higher, and this can take your vacant NYC apartment out of your hand as well.
Hire Professional Help
Our final tip for renting your vacant NYC apartment is to hire professional help, and when doing so, hire the best, like Milbrook Properties. We recommend this because when you employ the services of a professional, they do all the hard work for you.
They advertise your place the right way, find and vet the tenant for you and ensure that the tenant they bring in is quality so a long-term relationship can be established.
So, if you want to make your life a little more convenient, we recommend hiring professionals like Milbrook Properties now!