Why do these renter-models look so happy? Maybe because they rented instead of bought in Manhattan.
Think you're better off buying than renting? Depends which borough you call home. This winter, Manhattan tipped in favor of renting: it's now 17 percent cheaper to rent than to buy, according to national listings portal Trulia's latest rent vs. buy report.
To get the comparisons, Trulia looked at rentals and for-sale homes from their database and calculated monthly averages for an "indentical set of properties," says company spokesperson Daisy Kong.
Q. I'm about to rent an apartment, but the lease states that if I smoke inside, the landlord can keep my security deposit. Is that legal?
A. A landlord could include such a provision in a lease but would be ill-advised to do so, and it may not be enforceable.
First, a quick background on security deposits: Landlords are generally permitted to retain security deposits to compensate themselves for the damages they suffer at the hands of tenants. The amount of the deposit they refuse to return must be exactly equal to those damages, which could include both physical damage to the apartment or building that required repair (beyond normal wear and tear) or unpaid rent.
Grace Bonney started the blog Design*Sponge ten years ago in Brooklyn. It now gets 75,000 daily readers.
Ten years ago Grace Bonney started a blog dedicated to her love of all things design and christened it Design*Sponge.
Like the name suggests, it was a site for people like her, hungry to soak up information about art, style and home design. In the way of all great business stories, what started as a passion project has become a career for Bonney, and today Design*Sponge is a must-read for design aficionados, with 75,000 daily readers, 480,000 Twitter followers and 162,000 likes on Facebook. Raised in Virginia, Bonney now lives and works in Brooklyn.
This Upper East Side building at 530 East 76th St. offers a newly renovated health club with this heated swimming pool.
When your kids are more comfortable in water than on land, a pool in the building is more necessity than luxury. Guest broker Julia Miller of Platinum Properties helps locate a place where your mini Michael Phelpses can learn how to freestyle in this week’s Buy Curious.
THE WISH LIST:
“My kids and I love to swim, so I’m looking to buy a 3-bedroom apartment with a pool in the building (and a garage ideally). I’d really like to pay less than $2 million. Is that doable?”
If you're set on a swimming pool and a specific neighborhood in Manhattan, you'll have a tough time with a $2 million price range. For that amount, you'll mostly be limited to buying a co-op, rather than a condo, and living on the Upper East Side.
If your current financial situation is a little more "American Hustle" than "Wolf of Wall Street," and there’s simply no way you can afford to pay a 12% to 15% broker fee, don’t fret. Take a break from your Oscars party planning and surf on over to rental site Naked Apartments to view the many no-fee and low-fee apartments (fees under 9%) available throughout NYC. Check out the places featured here in our Low-Fee Rental Roundup or visit Naked Apartments and search by “no fee” or “low-fee” to see more.
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