Things to Know Before Negotiating For an NYC Apartment

With the scarcity and the prices of apartments in New York what they are, it’s hardly surprising that rent is sky-high. But times are hard, and every little bit of scrimping and saving counts. If you find that the NYC apartment you’re considering dents your wallet just a little too much, you may just be able to fix that with a little negotiation and a whole lot of people skills.

Should You Negotiate?

Yes, you should negotiate by all means possible. Although rents in the entire New York City area might seem too high and immovable, it’s actually possible for you to negotiate rates with the broker. You won’t lose anything by it, and many brokers are willing to talk about lowering rent or negotiating other fees just to make the deal.

NYC Apartment Negotiation 101

Do your homework before going out to meet the real estate broker. Know the average rent for different areas, for example. It’s going to be a lot easier to negotiate and discuss terms when the broker sees that you know what you’re talking about and that you mean business. The broker has to see that you’re a serious client, and that you’re the kind of person who might just give him or her a deal at the end of the day.

There are two types of listings on the New York real estate market – open and closed listings. An open listing means that several brokers are racing to close the deal for a certain place, while a closed one means that only that broker has the rights to deal that spot. Open listings will be a lot easier for you to negotiate because the broker is in a hurry to close the deal and thus get his or her commission.

In the same vein, you could possibly lower the rent or other fees by giving the broker a sense of urgency. For example, give a figure for the rent that you’re willing to pay, and then offer to get the NYC apartment right then and there if the broker could give you that rate. It’s take-it-or-leave-it-now offers like those that get a lot of New Yorkers their apartments for less than they originally planned.

Factors That Can Affect Negotiation

Brokers look at certain factors that might make one more willing or more reluctant to negotiate terms with you. Your credit rating and financial standing would obviously be the biggest factor. The condition of your finances is directly proportional to your worth as a buyer or tenant. If you happen to have a good credit rating and a healthy sum of money in the bank, consider it an advantage (and don’t forget to point it out).

Having your paperwork ready could also make the broker more amenable to striking a deal. Ready paperwork and supporting documents means that the broker could process the deal quicker and thus get commission sooner. That’s usually motivation enough for brokers to lower rent or other fees for ready and eager NYC Apartments seekers like you.

Hiring A Commercial Real Estate Broker For Leasing Office Space

It may seem like an arduous undertaking to consider renting office space for your business, especially if you have never done anything like it before. There are so many different listings available on the market, and they all very in leasing costs; all of this can be too much to handle.

Apart from the issue of considering all the available units, you must first figure out exactly what it is that your business needs, in terms of office space. All of this can be very overwhelming, as you attempt to find the best office space location for your business.

The thing to keep in mind is that you need not face all of these problems, as you try to find the most ideal location for your business. You can do this by seeking the professional help of a commercial real estate broker.

These commercial real estate brokers do their job just like real estate agents. The only difference is that brokers focus more on doing business with buyers of commercial space, as well as owners.

Commercial real estate brokers also work just like brokers, in that they serve to aid those that need help in locating the best office space for their business, given their budget range and conditions. These brokers are equipped with lengthy lists of owners of commercial space, and they are sure to help you discover at least two prospects that meet your requirements and budget range.

In doing business with a commercial real estate broker, keep in mind that you must be forthright about your budget range and conditions, and see to it that you enumerate everything that you want and need for your business’s office space. In doing this, you will be helping your broker help you locate the best units.

Request your broker for about three options, and ask him or her if he or she could set up a viewing schedule for these locations, and perhaps your broker can even arrange an appointment with the owners. Being able to see the units firsthand and talking about matters of concern with the owners should be able to guide you in singling out the best unit for your business.

As expected, it does not cost very little to afford the services of a commercial real estate broker. On the other hand, having the advice of a professional in these types of circumstances will be sure to alleviate you of stresses, as well as aid you in better transacting with owners.

How to Find the Perfect Buenos Aires Rental Apartment – And What to Avoid

Luckily, Buenos Aires is a city full of temporary rental apartments. This is great for the tourist because you can rent an apartment for a week for the price of one night at a hotel. Also, apartments have full kitchens so you can save money by cooking your own meals. In addition, the apartments are much larger than hotel rooms, and you have more privacy then staying in a hotel.

However, finding that perfect tourist apartment in Buenos Aires can be challenging. At first you might be saying to yourself, well as long as it had a bed and it is clean what do I care? While that may be true for some people, if you are planning on staying in Buenos Aires for more than a few days you will want to avoid some of the mistakes I have made in the past when renting an apartment there.

After renting several apartment in Buenos Aires I now know what to look for and what to avoid. Below are some tips that will help you find that ideal apartment and make your stay in Buenos Aires more enjoyable.

Neighborhood – Make sure to ask exactly where the apartment is located. This might sound strange but many people renting out their apartments market their apartments as being in the desirable neighborhoods of Recoleta and Palmero when they actually are not. In fact at first glance you might think that those are only the two neighborhoods in Buenos Aires! But this is just real estate agents and apartment brokers tricky efforts to falsely expand the borders of the most desired neighborhoods in Buenos Aires. Recoleta and Barrio Norte (these two neighborhoods are usually used to denote the same area, with Barrio Norte being closer to subway stops) is the best place to stay while in Buenos Aires.

Palermo is also nice with cool new restaurants and hip bars, but for me the barrio still has a way to go before it is as nice and established as Recoleta/Barrio Norte. There is too much graffiti and dog crap (watch your step while walking on Palermo sidewalks!) for me to suggest staying there over Recoleta. While some parts of Palermo can be quite charming it is just too big of a neighborhood to recommend it as a whole. Unless you know the specific location in Palermo is what you are looking for, it is best just to stick to Recoleta.

Noise – I read once that Buenos Aires is the noisiest city in the world. After a night trying to sleep in an apartment on the street side of a busy avenue you will agree. Loud buses and scooters with no mufflers will keep you up at night or annoy you during the day if you aren’t careful about your apartment choice. The most important factor is make sure the apartment is not located on the street side of a building. For more quiet you want an apartment in the back side of the building or “contrafrente” as it is sometimes listed in spanish. Secondly, it is preferable to be on a low traffic street. But, I have stayed in apartments on a busy street before but the building was so large and the apartment was so far in the back it was actually very quiet. Finally the higher up the apartment the better, so look for an apartment on a high floor. However, I stayed in an apartment once that was on the 11th floor but it was still very noisy because it was on the street side. Therefore, the most important factor in having a quiet stay in Buenos Aires is look for an apartment on the back side of the building.

Rooms – In Argentina a one bedroom apartment is called a two room apartment. So don’t be shocked when you arrive and the “two room” apartment you rented is not a two bedroom, but an apartment with a living room and a bedroom. Likewise a studio apartment is called a “one room” apartment or “monoambiente” in spanish. Just make sure you are getting the right number of rooms you want when you rent, or ask for a floor plan before you decide to put down that deposit.

Bed(s) – The eyes can be deceiving is what I learned when I rented what I thought was a perfect apartment. I even went to see the apartment before I decided to rent it. But I was fooled by the queen sized comforter covering up two single beds pushed together. Now some people might prefer this if you are two people traveling together and you want your own tiny bed, however there were queen sheets on the bed so you would have to ask for two sets of single sheets and more blankets to have two beds anyway (which in Argentina may or may not happen). So make sure your check under the covers or ask what the bed arrangement is before you book the apartment because waking up in the crack produced when the two beds push apart in the night is not a fun experience.

Refrigerator – Many Buenos Aires apartments are small and sometimes the kitchen only has space for a small “dorm-style” refrigerator with a “freezer” the size of a text book that takes three days to make ice. This might not be a big deal to some, but I prefer to have a full sized fridge to make ice for drinks, and for longer stays to keep frozen food frozen.

Internet – Many apartments in Buenos Aires offer “high speed” Internet. But what that means to some people may be different to you. I rented an apartment once that claimed to have high speed internet and when I arrived it was slower than dial up. The owner was in Spain and wouldn’t increase the speed so I had to spend many afternoons at Internet cafes just to check email. Be sure to ask what the speed of the Internet is and if you don’t know what is fast and what isn’t usually a connection of 512 Kbps will be fine if you are just checking email occasionally, but if you are planning on downloading files and working online while you are in Argentina, then I would recommend at least a 1.0 Mbps connection or faster.

English – If you don’t speak Spanish, be sure to ask if the representative that will be meeting you at the apartment speaks English. Usually this isn’t a problem, but I have had instances where I had to conduct business in Spanish and while it went OK, if you don’t speak Spanish it might not go as smoothly for you.