Do people want lower rent or freshly renovated

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Forum -> Inquiries & Offers -> New York related Inquiries

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amother

Wed, Dec 30 2020, 5:40 pm

For 3 bedroom rental apartment in Brooklyn would people prefer lower rent, and fixing up is on them-I.e. paint, scrape, adding closets if wished for, or would they prefer freshly renovated but the rent would go up by a couple hundred a month.

amother

Pink

Wed, Dec 30 2020, 5:41 pm

Most people give it out nicely fixed up so they can charge more rent.

amother

Silver

Wed, Dec 30 2020, 5:42 pm

amother [ OP ] wrote:

Most people find something in between attractive. Walls should look fresh not dirty or scratched but they'll be more ok with floors that are scratched and not scraped. They want to visualize clean and airy and also want low rent. Find a way to work with that. Clean. Simple paint. Kitchen well maintained. Done.

amother

Mauve

Wed, Dec 30 2020, 5:46 pm

I could not find any renters willing to take an apartment they needed to invest in. Once I put in the money, I had several ppl interested in the apartment. This was my experience.

amother

Magenta

Wed, Dec 30 2020, 5:52 pm

More rent for nicely fixed up

amother

Wed, Dec 30 2020, 5:55 pm

What’s the going rate for a 3 bedroom 1 bath, nice dr+lr and kitchen?
For both types....

amother

Wheat

Wed, Dec 30 2020, 6:27 pm

How many square feet? My DH and I are actually looking to rent an apartment in Brooklyn

And we prefer lower rent over renovations

tweety1

Wed, Dec 30 2020, 8:13 pm

amother [ Mauve ] wrote:

I could not find any renters willing to take an apartment they needed to invest in. Once I put in the money, I had several ppl interested in the apartment. This was my experience.

Same here

amother

Wed, Dec 30 2020, 8:30 pm

amother [ Wheat ] wrote:

How many square feet? My DH and I are actually looking to rent an apartment in Brooklyn

And we prefer lower rent over renovations

I’m guesstimating 1100 square ft including the steps.
It seems you are familiar, How much would the average rent be for this size?

gande

Wed, Dec 30 2020, 8:38 pm

about $2600 fixed up.

amother

Ruby

Wed, Dec 30 2020, 8:47 pm

I'm getting $2700 for such a rental

amother

Wed, Dec 30 2020, 8:52 pm

amother [ Ruby ] wrote:

I'm getting $2700 for such a rental

Renovated?

amother

Royalblue

Wed, Dec 30 2020, 9:04 pm

I'm paying 3000 for 1450 Square feet, 3 bedroom 2 bathroom, fully renovated, and this is fair market value. For 350 square feet smaller I don’t think you can get over 2700, and even that much only if it's nice.

Edited to clarify: in BP

dankbar

Wed, Dec 30 2020, 9:06 pm

Depends where. Bp goes for cheaper rent than Wmsbg.

doodlesmom

Wed, Dec 30 2020, 9:49 pm

amother [ Royalblue ] wrote:

That’s great! How long are you living there?
My sister moved into a 3 bed 2 bath apt approx 1150 sf and pays $3000 in BP.

amother

Coffee

Wed, Dec 30 2020, 10:08 pm

And I thought my 2400 monthly tax/mortgage payment for a 2100 sq ft 4 bedroom high ranch was outragously high.....

When I lived in bklyn I paid 1k for a 1 bedroom. When my neughbor moved out our landlord iffered us to take both appartments and turn it into 1 at my own ecpense and have an indefinite lease for $2,200. It was tempting but we declined due to the fact that the apt was 5th floor. No elevator and had a mice problem. And a mold problem.

Boy am I glad im out of brooklyn!

Just One

Wed, Dec 30 2020, 10:11 pm

You mentioned there's only one bathroom. That's a big minus for a three bedroom apartment you will presumably be renting to a largish family.
If you renovate and manage to add another bathroom that would raise the price to the high $2,000s. Otherwise even with renovations it'll be worth less

amother

Ruby

Wed, Dec 30 2020, 10:17 pm

OP Renovated?[/quote]
Yes

cnc

Wed, Dec 30 2020, 10:30 pm

amother [ Royalblue ] wrote:

That’s a good price .

amother

Natural

Thu, Dec 31 2020, 7:02 am

cnc wrote:

That’s a good price .

Yeah. My parents pay 3300 for a 3 bdrm 1200sf newish apartment in BP.

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