When it comes to investing in a great NYC apartment, there are a few main characteristics and features that a real estate broker looks for. Knowing what brokers want can significantly help you when it comes to choosing a rental property of your own. It also helps drastically narrow down your search window to only the top rental properties that meet your criteria. With this knowledge, you can avoid making some poor investment decisions.
One of the most important things a real estate broker looks for in an NYC apartment is a great location. The location of the rental can make all the difference in the world. Is the neighborhood considered safe? Is there parking? Are there lots of walkways or bike paths? Is there a park or yard area nearby? What is the nightlife like? What is the city transportation like in the area? Is it a family friendly neighborhood? Are there stores and restaurants nearby? These are the things that are taken into account when it comes to a great location.
Murray Hill in NYC is a great example. It pops up in many reviews as one of the best neighborhoods to live in. According to residents, it is a safe and quiet neighborhood with lots of stores, restaurants, a library, and a theater. Manhattan’s Financial District is another highly rated neighborhood. It boasts a great subway system and is next to the river.
Real estate brokers are very interested in the amenities offered with apartments. Most renters in NYC are very busy people who appreciate the ability to wash and dry their clothes at home. So, amenities such as an on-site washer and dryer facility – or better yet – a washer and dryer in the apartment are huge. The more amenities, the more appealing the property is. It is even better is if the apartment has an on-site gym or pool. Another plus is if the rental offers an on-site area to socialize in.
Tenants prefer apartments that provide ample storage space for their belongings. This is another important feature that most real estate brokers look for in top NYC apartments. Decoration that is also practical. Decent sized closets or storage areas help assure renters they will not feel cramped and can store their belongings without worry. A recent trend with newer apartments is the addition of secured storage cages for tenants. With many people downsizing to smaller living spaces, the overflow of belongings has to have somewhere to go.
In the hustle and bustle of city life, renters want to come home to peace and quiet. An apartment with great insulation and acoustics can make all the difference in the world. Help your tenants be able to relax in the evening. Brokers will always look for potentially noisy outdoor problems. For example, living by loud train tracks would not be ideal to most potential renters. Also important is good quality windows that are well-sealed since a cracked window or thin glass can let in more sound.
Brokers also look for great views. Windows in working condition lend both aesthetic and economic value to the apartment. What renters have to see out of their apartment everyday matters. No one wants to look at an ugly brick wall two feet from their window. A top-notch apartment will usually provide some sort of view. Whether it be interesting buildings, a green space or the sky, tenants want to look at something nice out of their window. Plus, windows that provide an open view also provide better lighting, which brightens the entire apartment and can make it feel bigger. The condition of the windows matter. Cracks, marks, and smudges will all ruin the view.
When it comes to finding a great apartment in NYC, real estate brokers search for properties with many important features. An ideal location, convenience, amenities, a great view and peace and quiet are all things that matter to tenants. Real estate brokers are highly knowledgeable in what to look for to meet a renter’s criteria. By knowing what they are looking for, you can find just the right rental apartment. A well-selected rental means better profitability down the line.
After purchasing your property, you may decide that you are not interested in playing the role of property manager. Being a landlord takes a lot of work, organization and customer service skills. If you’d like help in this area, Blueground can take over the property. We handle the minor renovations and acquire the furniture still needed, in order to bring out the full rental potential. Blueground also carefully screens potentials tenants to ensure there are trustworthy and reliable renters in your apartment. You can sit back and relax with your passive income, as we handle every aspect of the property rental process.