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Update: Airbnb Plays Ball with NYC Attorney General

Airbnb NYC

For the last six-months the Attorney General’s Office has been trying to get ahold of Airbnb’s host data, they have finally succeeded. Airbnb the online platform that allows apartment or home owners to rent their properties out to travelers is voluntarily giving up their host data. Although they will be removing some of the identification information such as, social security numbers, names, apartment numbers, and adding numerical identifiers to differentiate between the multitude of users.

NYC and Landlords, Since When Does That Not Go Together?

Bottom 20 Counties to Be a Landlord

Photo Source: www.realtytrac.com

New York City is on top of another real estate list, no surprise. The list of top 20 worst counties in America to be a landlord, surprise!

The Ten Priciest Rentals Currently on the Market

Anyone who lives or has attempted to live in New York City is quite familiar with the funds it takes to reside in even the smallest studio apartment. According to REIS, the average asking rent has soared to $3,000 for the very first time. For the extravagant lifestyles of some New Yorkers, however, this is chump change. Luxurious tastes call for luxurious homes with rents to match, and these are a few of the most expensive rentals on the market right now.

Could Creating More Luxury Apartments Help Ease New York’s Affordability Crisis?

Creating Luxury Apartments Could Help Mitigate the Affordability Crisis

Since City Council Speaker Christine Quinn has already announced her bid for the mayoral seat once Mayor Mike Bloomberg completes his term, it was no surprise to hear her include some major promises to the electorate in her annual State of the City address on Monday. Her speech, which largely focused on creating better lifestyles for the middle class, touched a good deal on the issue of rising rents in New York City, because of which many people are unable to afford living here.

Spring Is Officially Here As Manhattan Rentals Hold Steady

Spring came early for luxury rentals in Manhattan in 2012When is a plateau not a plateau? Well, when a market dips at the same time every year for years on end, and then all of sudden it doesn’t, that even keel isn’t mundane at all. Quite the opposite: the absence of winter’s usual decline in rental market activity for luxury rentals in Manhattan couldn’t be more noteworthy. A recent market report showed that rents for Manhattan apartments have been essentially unchanged since October, which means that the usual winter season never materialized. We skipped right over it. Looking back to this time last year, rents are up across the board, especially for two-bedrooms, which is the most distinctive shift. Whereas rent increases in studios apartments in Manhattan led the way in March 2010 and 2011, large apartments are now taking the lead.

Cheap Rents Can Still Be Found in NYC

Rental apartments in New York City are cheaper than you thinkBelieve it or not, there are 13 other cities in America where 2-bedroom apartments are more expensive than in New York City. So, in theory, if you moved to Honolulu, San Francisco, or even Long Island to rent a 2-bedroom apartment, you would have to pay more. These stats were compiled by the National Low-Income Housing Coalition using “fair market” rents – basically that means that they included rent-controlled and rent-stabilized apartments – and this methodology certainly brought NYC’s ranking down. After all, no other city in America has as many rent-regulated apartments as New York City, not by a long shot. However, this study is far from nuanced, especially since it doesn’t break down average rents for 2-bedrooms by borough. Still, the report highlights an important point: if you want an affordable 2-bedroom in New York City, you might want to look north of 96th Street in Manhattan.

Asking the Experts: What the 2012 Manhattan Rental Market Will Look Like

In honor of the new year the Real Deal solicited a group of real estate experts and industry insiders to get their opinions on where the Manhattan rental real estate market is headed in 2012. The experts agreed almost unanimously that conditions will be similar to how they were in 2011. Apartments for rent, they said, will still be in the grip of a strong market, and ultraluxury rental apartments will do particularly well. There was general consensus that average rent will either stay the same, or increase slightly over the year. Many experts said that high and stable rents will force condo and co-op prices upward, and most agreed that the rental market would overall be steadier than the purchase market.

West Chelsea Year End Wrap-Up: The High Line Effect

The High Line transformed West Chelse into a great place for luxury rentalsHow quickly we forget. 10 years ago, the High Line was a rusted artifact, a blight on West Chelsea, and a large part of the reason that West Chelsea remained underdeveloped and cheaper to rent in than Chelsea itself. West Chelsea has always been something of a separate neighborhood because of its industrial character, slightly out-of-the-way location, and cheap rents relative to the rest of Chelsea and other downtown neighborhoods. However, the High Line changed everything, and that’s not an exaggeration: Rents in West Chelsea now exceed rents in Chelsea, consequently pulling them upward and enhancing the neighborhood as a whole. In fact, rents for luxury apartments in West Chelsea have become similar to neighborhoods like SoHo and Tribeca, Manhattan's most expensive and coveted neighborhoods. Renters looking for great new luxury rentals should look to West Chelsea, because condo owners are cashing in on this sudden popularity by renting out their apartments, giving renters a unique opportunity to live in a neighborhood rich in culture and on the rise.

The Scarcity of NYC Multi-Bedroom Luxury Rentals

Multi-Bedroom luxury apartments are harder to come by, but many are still out thereLuxury rental apartments in NYC, as opposed to luxury apartments for sale, continue to be the first choice of many searching throughout the Manhattan real estate market. A variety of factors have contributed to this, including but not limited to: increased difficulty in securing outside financing; the still present aftershock of the housing crisis; and just all around lower personal income and savings. Perhaps this phenomenon can explain the recent shortage of multi-bedroom luxury rental apartments in Manhattan, a trend that crosses all neighborhoods and areas.

Should Manhattan Renters Have Renters Insurance?

Manhattan Luxury Rentals - Renters Insurance

From earthquake aftershocks to hurricane-turned-tropical-storm Irene, New York City has seen its fair share of natural hazards in 2011. In a city filled to the brim with luxury rental apartments, many renters have a false sense of security and misconceptions about renters insurance. According to a 2010 survey, more than 70% of the 81 million Americans who rent either do not have renters insurance or even know that it exists. Given that the average American renter owns up to $30,000 in personal properties, a renter who finds himself or herself as an unfortunate victim of mother nature would potentially be paying for the bills all out of their own pockets.