Metro New York Apartments

According to the 2000 Census, the most recent data available, about one-third of housing units in the United States are occupied by renters.

The relationship between a landloard and a tenant is a contract,whether month to month,year to year or even for several years.Generally,property owners are free to rent apartments for whatever the market will bear.In some caseslike New York,the laws define some tenants as "regulated"and limit rent increases those tenants are subject to.In most cases,state laws require landloard to provide at least the minimumaout of services that make an apartment "habitable."

Laws governing the interaction between landloards and tenants often apply statewide,and often differ from state to state .But there are also local laws that can vary from municipality to municipality.In New York City,apeals courtsin some boroughs have even interpreted the states rent laws differently from courts of equal stature in oter boroughs.

Between the tenants obligation to pay the rent and the landloards oblication to provide a habitable apartment lies in the grist for countless landloard-tenant lawsuits filed in municiple,county,and state courts.There are scores of potntial frictionpoints: Is the landloard providing all the basic services or just some of them?Is the tenant complying with the terms of the lease and house rules imposed by the landloard? Are their heaters warm enough for the winter?Are the neighbors noisy,or nosey,or nasty, if so can the landloard be held accountable?Is the landlord responsive to request for services?Are there rodents?Water leaks?Is the rent [paid on time?Is the tenant harboring a prohibited pet?

Then there is rent regulation, and all the issues that can arise because of it.

While landloards can evict tenants for not paying rent or following rules,the process can take months,even years.Also,tenants who have unresponsive landloards might not be able to get services,they might not even be able to get the landloard to accept rent.

Then there is the situation of rental tenants,often rent-regulated, in coops and condominium building into which the owners have poured countless dollars to make the buliding attractive,and up to date.Imagine the conversation between two co-op neighbors,one who has paid a million dollars r more for their apartment after surviving an examination of personal and financial details by the board and is now paying $3000,$5000 or more in monthly maintenance charges,and the neighbor who is paying a regulated rent of, say, $1000 a month while enjoying the same improvements and amenites provided collectively by the co-op corporation.

I guess the main thing to see is that make sure you have all your facts together on the property you are wanting to rent before you sign anything and make sure it is right for you.Check the contract you sign and the area you will be living and makesure it fits all of your needs from the schools to restaurants to markets and all the other things that will make your stay a beautiful one.'/

Weak sales, stalled construction, and strangled credit on Long Island were more than a few reasons for brokers to be glad to see the end of 2011.

Over this period according to the Multiple Listing Service of Long Island,Nassau prices have dropped around 12 percent , to an average of $533,692 in 2011,with 10,560 closed sales,in 2006.The numbers in Suffolk were worse . Prices fell nearly 20 percent, to an average of $365,993 with 8,956 closed sales, from $456,419, with 12,661 homes sold. 

Looking at last year by itself, averages in Nassau represented an improvement from $523,045. In Suffolk, averages represent a decline from $379,433.

Henry F. Weber, the president and regional director of Re/Max of New York, which is based in Garden City ,said the relatively scarcity of brokers would present a challenge for sellers, who should not underestimate the importance of finding the right one.

To make sure a potential agent is " active,successful and really knows what they are doing" ,he advised sellers to check the number of transactions that he or she has brought to a successful conclusion. " Some agencies have 800 agents and 600 transactions" he said.

If homeowners are serious about selling ,"they really have to price their homes accordingly", Mr. Weber said. In fact, the mantra that seemed to prevail among those assembled was" if its priced right , it will sell", or words to that effect.

Joe Meyer, a real estate speaker and sales trainer based in Woodbury who entertained fellow party goers with a standup comedy routine, took a more insouciant tack.

He recalled having worked in real estate in 1980 when interest rates topped 18 percent,and acknowledged, "This is another tough market we are going through"

Still, he advised sellers and buyers alike to keep in mind that "the economy is only as bad as your bank account".

In New York, the cost of a condo or co-op can seem an impossible hurdle.But along side the asking price is another figure that can induce sticker shock:the monthly maintenance fee . The fee can range from a few hundred dollars a month, for a small condo, to many thousands for an exclusive co-op.And as millions of owners have discovered, it almost never goes down and rarely stays flat. Often, the increases happen yearly.

Potential buyers should be concerned about the fee, not only because it is real money paid out of pocket every month,but because it has a direct impact on the property value.

The market rewards low maintenance and punishes high maintenance.Apartments with low monthly charges tend to sell sell for more,and those with higher fees for less.That is not to say that buildings are doing away with amenities.New condo projects tend to be full of perks like exercise rooms,screening rooms,children play areas and even pools.Yet all of these costs add expense.

Condos usually have lower maintenance fees than co-ops.That is because they have different ownership structures.Co-op owners do not own the real property.They own shares in a corporation:the co-op.Apartments though to be more desirable-larger ones, or those on higher floors with better views-have more shares than smaller ones, or those on low floors that face a brick wall.Since individual owners do not own the property,the real estate tax bill for the building goes to the corporation,which in turn collects those taxes based on the number of a members share, as part of the maintenance fee.

In addition,co-ops often have an underlying mortgage on the entire building,which is separate from the mortgage that buyers have on an apartment.So,the co-op maintenance fee often includes monthly payments on the underlying mortgage as well.

Condos are different.When someone buys a condo he is buying real property,just as in a house purchase.The buyer gets a deed and a separate bill for taxes directly from the city.Fees for upkeep have increased sharply over the last decade according to the Council of New York Cooperatives and condominiums,which publishes a annual report of co-op and condo charges based on data gathered from members.The council found that the median maintenance fees for co-ops on the West Side of Manhattan rose by 59 percent between 2000 and 2009( the most recent year for which it has statistics).Citywide,condo common charges increased by 38 percent over that same period.

So everyone please keep these fees in mind when you buy a condo or co-op because they will increase over time and it is a fee that must be paid.

So you have made up your mind, and you are giong to do it,you are going to move into your first apartment.You have been dreaming of this momment for all your life.You know exactly what furniture you want, what color the walls are going to be, all the details about your first major party but wait ! Before you get to comfortable with your new found freedom, beware. This is real life and a couple of late rent payments can damage your credit significantly.Have a huge party and the police will come .Make sure that your first experience out on your own is a good one and take a listen to a little advice from, perhaps, some folks who have learned the hard way.

Tip # 1- Budget wisely. Experts suggest, when you are looking for a place, the rent should be no more than 25-30% of your annual wages. Although you might fall in love with that two bedroom luxury apartmentin the downtown high rise, you have probably are not going to be able to afford it.An eviction will mar your credit report and will be seen as a big black "X" to other potential landloards. Take a look at your income after taxes and subtract your expenses.Include food, household supplies, phone,cell,car payment, car insurance, parking fees, credit card bills, clothing, cleaners, gas,internet,healthcare,school loans, and entertainment. What you have left is what you will be able to afford for your new place.Keep in mind that this total will need to include rent as well as any additional services, such as natural gas, water, electricity, cable, and garbage pickupif that is not included in your rent.Make sure to ask your landloard to put in writing what is covered in your rent and what is not.

Tip # 2- Think about the deposits. Not only will you need to afford a deposit on the apartment itself but you might also need to pay a fee to have your electricity turned on, phone hooked up, cable statred, etc.The security deposit is most often equal to one months rent and the other deposits will range anywhere from $25 to $100. If you are moving in the middle of the monthyou may have to pay for the remainder of that months rent as well as your first full months rent before you allowed to move in.

Tip # 3 – Use credit cards in moderation. Lets face it, we have heard hundreds and hundreds of times from hundreds of people that we should just take all our credit cards and shred them. Nothing good can come from having them around.If you dont have the money, dont spend the money.Wrong !  Having credit cards and and paying off your debt in a reasonable time will strengthen your credit report.In order to establish credit, you need to have credit.We need to be real here, there are times in everyones life when you need a credit card. Dont worry about using it. Dont feel the guilt. But, dont be careless either. When you use credit cards, make sure that you pay your debt down and avoid carrying a balance for over three months. Rather than depending on your credit card as a way to make ends meet every month, know that it is there in case of an emergency or if you just NEED to have that new pair of shoes. 

If you have been thinking about buying a home lately for the first time your chances of qualifing for a home mortgage might be better if you have had a history of paying rent on time.

Last year Experian, one of the three leading credit-reporting companies, added a section to millions of credit reports showing on-time rent payments,and raised credit scores of many people.The company said that this year it would add in negetive marks, including mentions of bounced checks or of tenants leaving before a lease was up.

Now two other companies, Corelogic+FICO, are planning a new credit report and score that incorporates payment histories from landloards, as well as payday and other nontraditional loans , child support and possibly utility and mobile phone bills.So everyone please pay those bills on time.

Around 35 % of households nationwide were renters in 2010, according to the most census data, while in parts of New York City , three quaters or more rent.

Incorporating rental payments into credit scores could affect millions of people who have not established credit histories through credit cards, student loan repayments and other credit sources.That includes recent college graduates, students and some divorced people.

People who have lost their homes to forecloser and are now leasing may be able to rebulild their credit history by being very responsible renters.

CoreLogics Core Score will cover about 100 million people. The three other major credit reporting companies, which also include Equifax and TransUnion,  have reports on 200 million people. Their reports are available for free once per year at annualcreditreport.com. TransUnion collects rental information and shares it with landlords, but Experian is the only one of the three so far to add rental history to credit reports.The eyes are upon us so please stay up on those bills.

In earlier days, relocating to different places is a really daunting task. However, with the help internet it is much easier in these internet technology days. Especially, in US, the apartment search guide will help you to resolve your issue. You are able to find different kinds of apartment and amenities from this guide. New York apartments are available in a wide variety of different neighborhoods and surrounding cities. You can easily find pet friendly New York apartments using apartment finder or search for apartment amenities like a fitness center, swimming pool or off-street parking. When you are trying to start looking for New York apartment, check this apartment rental guide, which has great advice on finding and renting New York apartments. Also this guide will help you to find Manhattan apartment, long island apartment and queens apartments. This apartment research guide will definitely help you to find affordable Long Island apartments for rent, questions to ask the landlord of your rental apartment, and how to make sure your apartment rental is right for you. Read the rest of this entry »

Prices are down across the board so far this year in urban, suburan, rural and shore areas, in both northern and southern New Jersey everywhere except areas close to Manhattan commuter train service, and in all prices categories,surprising,the uppermost.

What is perhaps scarier, market analysts say, is that mass foreclosure actions , which could futher hurt home sales, have yet to make their presence felt.

In August,after an investigation into lending practices at five big banks, a state Supreme court judge removed what had been a de facto moratorium on judical approvals of foreclosers.

In some other sates, banks are still in the process of recertifying their practices, after evidence of robo-signing and careless processing of loans came to light.

New Jersey has almost 30,000 homes stuck at different points in the forecloser pipeline according to court records.Their owners are months to years delinquent on mortgage payments, and lenders have gone to court, at least to begin proceedings to seize their properties, as is required in this state.

On average, the process was taking 708 days, or nearly two years, while the moratorium was in effect in New Jersey. After it lifted in Augest, new foreclosure filings did increase, and were higher 1,190 , up from 859 in July.

As of the end of August, there had been 68 percent fewer foreclosure filings than in the same period of 2010, with just 0.05 percent of homeowner households receiving a first-time notice of default. That equates to five foreclosure filing notices for every 1,000 homeowners. 

Maria Guillermina Chaux, the president of the Mortgage Bankers Association of New Jersey, says that short sales repesent about 90 percent of transactions now being handled by her bank(where a bank agrees to allow a sale for less than what is owed on the mortgage.) "At least some property is moving," she said, "but the prices are down, down,down."

By focusing on just the metro NY area, metronewyorkapartments.com proves to be unique and is destined to be the expert in the egion. With free listings and specials expect to see  this site populate with metro New York area rental listings and renters quickly.They are now accepting listings from both the private sector, property management companies, & from real estate firms. There is need for an online source for apartment listings in the metro New York area which is not a real estate broker and does not charge any commissions on leasing of an apartment.The areas covered in the listings are in the metro NY area: Manhattan apts,Brooklyn apts, Queens apts,Queens apts and Long Island .Thats it!

A wonderful feature is the latest Google Maps showing street views, birds eye views and amenites in the area. It will show you what is in the area for example, restaurants, schools, markets, coffee houses, entertainment , banks, parks, bars,

with pictures. or do a custom search and you will find anything you are looking for. Want mexican food ? No problem,do a custom search and you will have many to pick from with reviews from previous customers and some with even menues. Also it will show you how to get there and more.

Also, it has Walkscore, where it will tell you how long it will take to drive , walk, or use transit to your location destination and how far it is and how to get there.You have every thing you need to know about the neighbohhod you are looking for without ever leaving your home.Why spend valuable time driving around looking for apartments when you have a service like this. Any contact info. can be made at metronewyorkapartments.com or metronyapartments@gmail.com.     

FOR 12 years, ever since Warren Clamen and Guy Saint-Arnaud moved to New York from Montreal, they suffered from real estate regret. “We should have bought the second we moved here,” Mr. Clamen said. “But we didn’t have the wherewithal. We missed the boat.” Friends had bought homes and “were getting appraisals,” he said. “Every time it was, like, ‘My house is up 50 percent.’ ” The two remained in their rental building, Courtney House, on West 14th Street. “We are both creatures of habit and don’t like change,” Mr. Clamen said. Yet they did move within the building twice, each time to a unit that was bigger, better, higher. Moving was simple: they took the elevator. Read the rest of this entry »

Some Manhattan neighborhoods are assuming that vacant feeling the year around, because the people who own or rent apartments there actually live somewhere else most of the time.This explains why, in a city of bright lights,so many windows dotting the facades of Fight,Madison and Park avenue apartment bulidings are pitch dark every evening.

Wealthy out-of-towners have always had unused investment properties in the city.What is new is how many.

In a large area of the East Side bounded by Fifth and Park avenues and East 49th and 70th Streets, about 30 percent of more than 5,000 apartments are vacant more than 10 months a year because their owners or renters have permanent homes elsewhere, according to the Census Bureaus latest American Community Survey.

In one part of that stretch,between East and 59th Streets,more than half of the 500 apartments are occupied for two months or less.That is a higher proportion than in resort and second-home communities like Aspen,Colorado,PalmBeach Fla.Virginia Beach, and Litchfield,Conn.

The ranks of part-timers are growing.Since 2000,the number of Manhattan apartments occupied by absentt owners and renters swelled by more than 70 percent, to nearly 34,000 from 19,000. metronewyorkapartments.com