Selling Your Apartment Complex With the Help of a Broker

Are you an owner of an apartment complex that’s been drained out of its tenants? Is your apartment building ready to be placed on auction for the highest bidder? If you’re already nodding your head in affirmation, then you must be worried about how to do it. Well, selling your apartment complex isn’t a difficult task to do especially when you have a broker. It’s actually the same as selling a certain product-you have to know what it is worth and know how to market it. 

I know someone who struggled with this problem in the past. My friend was an ex-owner of an apartment complex. In the past, her business boomed but because of the crisis with regards to the economy, she found herself tenant-less after a couple of months. It was a shame but the wisest thing to do was to sell the whole property or else she would be facing the issues of how to maintain the whole apartment building. 

In order to do it right and easy, she hired a so-called professional. It cost her money to do it but she was convinced about this. Unfortunately, when she had sold the property, another broker told her that she had sold it for less than what it was worth. Instead of being happy to have had the estate out of her hands, she felt more devastated. Her bad decision caused her at least $100,000. So, if you’re planning to sell your apartment complex, do you want to do it right? 

The best thing to do is not to rely on one broker. Just like going to the doctor, you should get other opinions in order to get the best value for your home. Choosing the best broker can take some time. If you’re curious, you should ask around, make a few calls, anything to make sure you’ll get the money you deserve.  

If you’re thinking of doing everything by yourself, you can but you should still get the advice of a broker. He/she will give you advice on how to conduct your estimation and at the same time, give you suggestions on where to sell your property. All in all, brokers exist in order to put you on the right track.

Finding A New York Apartment Rental

To say that the apartment rental market in New York City is tight is an understatement. If you want to find an apartment in Manhattan at a reasonable rental fee, you will need to give yourself plenty of time and use every means at your disposal. Manhattan is the center of commerce for the city and having an apartment in close proximity to where you work is a luxury that only a few can afford

However, Manhattan is only one of the five different sections or “boroughs within New York City. The other four are; Brooklyn, Queens, Staten Island and the Bronx. You can find apartment rentals that are lower than in Manhattan, but be aware that the further away you live from Manhattan does not automatically mean a lower rental fee.

Renting an apartment in New York City is a full time activity for many people, there are factors beside money that has to be put into the equation; there are apartment buildings that do not permit pets or who cater to a particular type of renter, i.e., corporate apartments or professional apartments.

There are ways to find an apartment rental without spending money to a middleman, such as a real estate broker or apartment rental service. You can use a variety of these methods together or on their own, the bottom line is getting the apartment you want, for the rent you want to pay, in the area of New York City where you want to live.

If money is a prime consideration when you are looking for an apartment, then steer clear of brokers, apartment rental services or any other paid service. Instead, you can go online and visit and find multiple listings for all types of apartments, usually the rental fees for these apartments are well below the apartments that are listed in the classified section of newspapers.

The classified sections of the major newspapers in New York City are full of apartment listings, but most of them are advertisements placed by a real estate broker or apartment rental service. Hint: look for the ads that say “for rent by owner” or “no agency calls”, which means you will be dealing directly with the landlord.

There are several apartment rental services that do not charge you a fee; they are paid by the apartment owner. Be careful here, there are too many horror stories from apartment seekers being mistreated by unlicensed individuals posing as business agents for non-existent apartments.

Another good way to find an apartment rental in New York City is to visit the neighborhood where you want to live and tour the area. This is a great activity for a weekend; you can get a sense of the atmosphere and find the neighborhood newspapers which usually have an apartment for rent section.

If you absolutely must use a real estate broker, choose one that has an office in the area where you want to live. A note of caution is required dealing with brokers, New York City has several laws that apply to housing, make sure to be prepared for your appointment at the brokers’ office.

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