‘What Renters Want’ with Jessica Fiur: The Suite Life
It seems like recently a lot of fancy hotels, such as The Plaza in NYC, are converting some of their rooms into apartments. And why not? Who wouldn’t want to be given the opportunity to live like Eloise, or, to a lesser extent, like a Kardashian. Hotels can be glamorous. They’re located in convenient areas. And, when they’re converted to apartments, one of the amenities usually offered is maid service. Can you imagine? It’s like living back at mom’s, except without the judgment. (Plus, you’d get no, “What do you think I am, your maid?” because, well, they are.) No…
‘The Accidental Economist’ with Jack Kern: Rent Gains Signal a Storm?
“You, my friend, are a victim of disorganized thinking.” —L. Frank Baum, Author, Wizard of Oz, (c) MGM 1939 Rent gains have become the darling of the economy. Executives and investors are showing up at cocktail parties, clinking glasses in joyous abandon as talk turns to happy days are here again as pricing gains are now heralding renter nation. If I’ve learned anything it’s that once just about everyone agrees on a trend in the multifamily industry, they get it wrong. I’ve been forecasting rent results for a lot of years now, but this is the first time I’ve seen the…
‘What Renters Want’ with Jessica Fiur: Would You Want Kramer as a Neighbor?
Are you friendly with your neighbors? New Yorkers, for better or worse, are stereotyped as being very un-neighborly—most would be categorized as not being able to pick out their next-door neighbor in a lineup. (Actually, for me this is pretty true. I know my neighbors as “Woman who takes her kid to school the same time I’m leaving for work,” “Guy who yelled at my husband for building our Ikea furniture too loudly” and several variations of “Person who looks vaguely familiar so I assume lives here and isn’t some murderer I just held the front door open for.”) But what…
‘Gimme Shelter’ with Daniel Gehman: Reading the Tea Leaves on Rent Increase Rates
No, I’m not an official analyst, of course—just someone who’s been in the business for a while and tries to stay in tune with trends and understand them as much as possible. I was intrigued by news in my local paper (Orange County Register), I’ve now seen for a couple weeks running, about how much apartment rents have been increasing, and for what types of units. The data I saw showed that two bedroom apartments were increasing at the fastest pace, followed by studio units at a close second. Lagging the pack by a 2 percent delta were one-bedroom dwellings….
Guest Blog: Insights from a Young and Leery New York Renter, Part 1 On Unit Maintenance
Part 1 – On Unit Maintenance Due to less than fortunate experiences, I have dealt with almost every aspect of a real estate company that a renter can expect to encounter in the last two months. My issues began when the bedroom wall in our 100-plus-year-old building slowly began to rot from a leaking steam riser. (Don’t worry; this is not your standard ‘gripping renter’ blog post. The end outcome was positive, and I think I learned some tips that can help companies avoid the dreaded one star Yelp review.) I worked from home one day while the maintenance crew…
‘What Renters Want’ with Jessica Fiur: The 9 Best Apartments on TV
Finding a new apartment is stressful. And you always have to make concessions—maybe you give up space for convenience, or you take a walk-up for because it’s less money. But you know what isn’t stressful? Watching TV. And television is filled with awesome—though, admittedly, not always realistic—apartments. Let’s take a look at the 9 best apartments on TV. Monica and Rachel’s apartment on Friends. This beautiful Manhattan apartment was above the coffee shop where Rachel worked and all their friends hung out, and was across the hall from some of their best friends. And it was a two bedroom. Bonus, the…
‘What Renters Want’ with Jessica Fiur: Top 10 Things You’ll Never Hear a Renter Say
In honor of David Letterman’s 30 years in late night, here is a Top 10 list of things you’ll never hear a renter say: 10. “I’d love an avocado refrigerator.” Today’s renters want a modern kitchen with stainless steel appliances. No one wants to live in an apartment that hasn’t been updated since the ’70s. 9. “No rush changing my lightbulb; I know you have more pressing matters to attend to.” No matter how minor a resident’s request is to you, to him it’s the most important thing in the world. Don’t be vague about when something will be fixed;…
‘Gimme Shelter’ with Daniel Gehman: Solar Decathlon Heads West
I did a double take when I picked up my local newspaper last Saturday and saw a headline and thumbnail image proclaiming the Solar Decathlon was going to have a change of venue, from the nation’s capital to “the OC.” “Not that Solar Decathlon,” I thought, but there, in the picture, was a glimpse of the Sci-Arc/Cal Tech house from last year’s event, standing out because of its overstuffed and tufted exterior that really gives it the flavor of a hip piece of lounge furniture. So I read on to find that former Irvine Mayor Beth Krom, who is now…
‘What Renters Want’ with Jessica Fiur: 7 Things Renters in Their 70s and Beyond Want in an Apartment (And 1 Bonus)
Whether they’re seniors looking for housing or they’re looking for “seniors housing,” renters in their 70s and beyond have specific wants and needs on their apartment wish lists. And, boy, they’re not shy about letting you know it. Don’t let their age fool you: renters in their 70s and beyond want all the bells and whistles of an apartment that people first looking for apartment want (except, maybe a kegerator. Though, who are we to judge if they do?). 7 Things Renters in Their 70s and Beyond Want in an Apartment (And 1 Bonus) Near Culture. Museums, theater and the…
‘Gimme Shelter’ with Daniel Gehman: An Apartment Bubble? Seriously?
Recently I’ve heard murmuring from a couple different quarters that there could be a bubble forming in the rental housing sector. It has been suggested that in some markets, development talent and money started to flow into multi-family projects about a year after the economy crashed because it needed somewhere to go. Consequently, lots of new apartments were constructed (or are in the process of being entitled, designed, and constructed), leading to too much supply, which was having a flattening effect on rent growth. Furthermore, fears were expressed that since renting, in some markets, was now more expensive than buying,…