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Re: Is the rental market downtown crazy slow?
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Those rates look great, but are they current? It says last updated in 2006 on the bottom left corner. :-/

Posted on: 2009/6/28 23:45
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Re: Is the rental market downtown crazy slow?
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Lots of reasonably priced apts out there...

http://www.a1propertymanagement.com/Rentals.htm

Posted on: 2009/6/27 10:45
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Re: Is the rental market downtown crazy slow?
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Is the rental market downtown crazy slow?

yes

Posted on: 2009/6/27 2:38
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Re: Is the rental market downtown crazy slow?
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http://www.state.nj.us/dca/codes/lt/pdf/t_i_r.pdf

This is the link for the Truth in Renting booklet for New Jersey. Take a look at page 8

Posted on: 2009/4/8 20:33
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Re: Is the rental market downtown crazy slow?
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Thanks a lot Travlette, that's exactly what I was looking for. Is there somewhere online (such as a .gov or .org site I could reference) where all this information is available.

Hopefully there's not a case where this is necessary, I just wanted to have the knowledge in case my landlord's or their realty's apartment showing becomes unreasonable or a problem for me.

Posted on: 2009/4/8 19:30
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Re: Is the rental market downtown crazy slow?
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Sorry, disregard the last paragraph in that post!

Posted on: 2009/4/8 18:15
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Re: Is the rental market downtown crazy slow?
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Entering the tenant’s dwelling unit
All leases, whether written or oral, give the tenant “exclusive possession” of the dwelling unit. This means that only the tenant, or members of the tenant’s household, or people the tenant allows in the house or apartment, have the right to be there. The landlord does not have the right to come into the house or apartment whenever he or she wants. In a written lease, the landlord’s duty to not enter the tenant’s house or apartment is called the covenant of quiet enjoyment. This covenant (promise) means that the tenant has control over who can or cannot come into his or her apartment or house. Cite: Ashley Court Enterprises v. Whittaker, 249 N.J. Super. 552 (App. Div. 1991).



When can a landlord enter?
The law allows the landlord or the landlord’s workers to go into the tenant’s dwelling only in a few special situations:

If the tenant invites or asks the landlord or one of the landlord’s workers to come in.


If the landlord needs to inspect the apartment, but only:
at reasonable periods of time—every day is unreasonable, every few months might be okay;
at a reasonable time of day—4 a.m. is unreasonable, 4 p.m. might be okay, depending on whether the tenant will be home at that time; and
only after giving the tenant reasonable notice that he or she is coming to inspect. Reasonable notice usually means a written notice. It also usually means that the notice must be given at least one day before the landlord wants to come in. For buildings containing three apartments or more, there is a regulation requiring one day’s notice before a landlord can come into an apartment to make an inspection or do repairs. Cite: N.J.A.C. 5:10-5.1(c).


If the landlord or one of the landlord’s workers needs to go into the apartment to do maintenance or make repairs. If the repairs are not an emergency, they can only enter the house or apartment at a reasonable time and after giving reasonable notice.


If the landlord or the landlord’s workers need to go into the house or apartment to do emergency repairs. Under this circumstance, the landlord may not have to give one day’s notice—or even any notice—if the emergency is really serious or dangerous, for example, the apartment is on fire or water is rushing out of a broken pipe and pouring through the floor. But even in the case of an emergency, the landlord should try to give some notice if he or she can, even if the notice is just a phone call.
Top of page

What if the landlord won’t stay out?
If the landlord or one of the landlord’s workers enters your house or apartment and does not have your permission or does not have one of the other reasons discussed above, he or she is breaking the law. You should send a letter by certified mail to the landlord complaining about what happened. Keep a copy for your records. You can also call the police or go to the police station or local court and file a complaint for “trespass” or “harassment” against the person who entered without your permission. You might be able to file a trespass or harassment complaint because, even though your landlord owns the building, he or she has given you the right to possess the apartment.



Maintaining order
A lease requires the landlord to make sure that each tenant respects the rights of other tenants. If one tenant is disturbing the other tenants by playing loud music at night or destroying the property, it is the landlord’s responsibility to make that tenant stop. Cite: Gottdiener v. Mailhot, 179 N.J. Super. 286 (App. Div. 1981). But in order for the landlord to be held responsible for any damages suffered by the tenants, one of the tenants must tell the landlord about the situation. Cite: Williams v. Gorman, 214 N.J. Super. 517 (App. Div. 1986), cert. denied, 107 N.J. 111 (1987).

Posted on: 2009/4/8 18:14
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Re: Is the rental market downtown crazy slow?
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Quote:

NewHeights wrote:
I saw this a few years ago when I bought a building based on the leases and rent roll. It turned out the rents were inflated by the 13th free month. No where in the leases did it state this.


Nice. So when you apply for a mortgage based on disclosed rents they've maneuvered you into loan fraud to boot. If it's not in the lease, what protects the tenants from "13th month free, what 13th month free?"

Always something else to watch out for in this game. Why stop at 1 month free either? On a commercial loan it's all based on the income! Is there ANY way to detect this nonsense in advance?

Posted on: 2009/4/7 20:48
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Re: Is the rental market downtown crazy slow?
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Usually it says something in the lease but I believe they need to give you a specified time of notice, like 48 hours. I think that owners have the right to show it if you still live there but I'm not 100% sure.

Usually they start showing 30 days before the lease is up, but if the market is really bad maybe your landlord is trying to push it.

Posted on: 2009/4/7 20:13
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Re: Is the rental market downtown crazy slow?
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Anyone know what the rights are of a tenant for the landlord showing my apartment? I'm planning on moving out in two month when my lease is up, but just wanted to know the actual rights on my landlord showing my apartment.

I couldn't find anything on http://www.lsnjlaw.org/english/placei ... e/tenantsrights/index.cfm

Posted on: 2009/4/7 20:03
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Re: Is the rental market downtown crazy slow?
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Yes mostly after 1 year when your lease is due to renewal, they are hoping the market would recovered and they can use the official lease rate as the rate going forward. Also moving is always a hassle, so they are also hoping you would just stay and pay the higher rent instead of looking for a new place and deal with the hassle.. This practice seems very common now in newport/downtown.




Quote:

SLyng wrote:
I have a question, what's up with all the "Net-Effective Rent" places that I keep seeing on craigslist?

Here is a typical example: If you sign a 13 month lease, the company will give you the 13th for "free" - so even though the check you write every month is for $2500/mo, your net effective rent $2307...

I assume this just a way for big rental companies to not have to "lower" their rents and that way if the market recovers they can raise your rent based on the $2500/mo number instead of the $2307 you've really been paying...

Has anyone had any luck in saying: No, i won't sign your one month free lease, but i'd be happy to sign a one year lease at $2300/mo? Seems like doing it the other way, is just a way for them to distort where the true market level for an apartment is.

Posted on: 2009/4/7 19:58
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Re: Is the rental market downtown crazy slow?
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There are a few reasons why they do this. 1st it is to reduces the strains of rent control and the other is to inflate the rent roll when they try to sell the building.

I saw this a few years ago when I bought a building based on the leases and rent roll. It turned out the rents were inflated by the 13th free month. No where in the leases did it state this.

Posted on: 2009/4/7 19:39
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Re: Is the rental market downtown crazy slow?
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I have a question, what's up with all the "Net-Effective Rent" places that I keep seeing on craigslist?

Here is a typical example: If you sign a 13 month lease, the company will give you the 13th for "free" - so even though the check you write every month is for $2500/mo, your net effective rent $2307...

I assume this just a way for big rental companies to not have to "lower" their rents and that way if the market recovers they can raise your rent based on the $2500/mo number instead of the $2307 you've really been paying...

Has anyone had any luck in saying: No, i won't sign your one month free lease, but i'd be happy to sign a one year lease at $2300/mo? Seems like doing it the other way, is just a way for them to distort where the true market level for an apartment is.

Posted on: 2009/4/7 18:17
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Re: Is the rental market downtown crazy slow?
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Binky, totally agree.

Posted on: 2009/3/29 2:10
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Re: Is the rental market downtown crazy slow?
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Did the small space rent out yet? I'd love to see a cheap eyeglass shop open.

Quote:

new2jc wrote:
We too are trying to rent out two Storefronts near the Grove Street PATH.

The larger is only $1095 per month and is currently a Law Office, but it is perfect for any Office, Store, Studio, Gallery etc...

The smaller Storefront is only $795 per month and is perfect for a small Professional Office, Store or Studio.

Call us at 201.282.7320

Posted on: 2009/3/28 21:04
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Re: Is the rental market downtown crazy slow?
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That's a good one.

Quote:

Xerxes wrote:
Ogden Avenue is generally nicer than most places in Paulus Hook. [snip]

Posted on: 2009/3/27 2:20
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Re: Is the rental market downtown crazy slow?
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Ogden Avenue is generally nicer than most places in Paulus Hook. With the right exposure, the Manhattan views from the high vantage point can be truly spectacular. Some of the back yards behind the East side Ogden houses are unique world class spaces with breathtaking vistas from the Statue of Liberty to beyond the GWB...West side of street, eh, nothing much?
And an HONEST 750 square foot is a good sized one-bedroom apartment...many 2 bedrooms aren't ACTUALLY that big. But a lot goes into the word HONEST!

Ogden Avenue is really quite a step up from "the Heights!"
Northern section of Ogden is a very short distance from the elevator down to the light rail (Hoboken 9th Street Station.)

Alas, it's a teeny oasis in a rather unpleasant part of town (Yeah, I lived there a fairly long time.)

Posted on: 2009/3/26 23:42
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Re: Is the rental market downtown crazy slow?
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agreed. If i'm representing a client , I will always do credit checks. Not worth the headache plus my reputation is on the line.

Posted on: 2009/3/26 22:38
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Re: Is the rental market downtown crazy slow?
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Quote:

NewHeights wrote:

2. I am not a stickler for credit checks. I tell tenants if they give last months rent in addition to the 1.5 month security upfront and we can avoid the credit check.I do make sure they have a decent job on the books. Non-payment Rental evictions in NJ are cake.


Tenants don't need pristine credit scores, but credit checks should be done at all times if you are working on behalf of a property owner. Let's say Mr. Renter is showing solid income in excess of what would be needed to reasonably afford the apartment. That's wonderful, unless he's got a significant lien on his paycheck for non-payment of child support, thus reducing his income. You'd also want to know how much revolving debt he has, any past judgements against him, number of and amounts for past due payments (and how long they've been delinquent), defered loans (and when the payments kick in), etc etc etc......

And I don't find that non-payment evictions are all cake, especially when the tenant knows how to work the system. What if you try to evict in the middle of winter and the tenant has children? Right there you've got a major delay on your hands, and a moral issue the landlord could do without. I agree with most of what you said about getting units rented, but its not worth the one months fee to risk not being sure about the tenants you acquire for clients.

Posted on: 2009/3/26 22:31
We are what we pretend to be. So we must be careful what we pretend to be - Vonnegut
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Re: Is the rental market downtown crazy slow?
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Quote:

wibbit wrote:

Ogden ave is a pretty small area, so either you are the best salesman who happens to meet the most clueless tenant. Or you are just feeding us bullshit.



Its really meaningless to compare apartment values based upon neighborhood, sq ft, etc. Thats only a starting point.
Ultimately, the feeling that a tenant gets being in the space counts for a lot, (IMO, most), and that has to do with factors that are more difficult to quantify.
NewHeights might be bragging, but that doesn't mean he's not telling the truth.

Posted on: 2009/3/25 11:38
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Re: Is the rental market downtown crazy slow?
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Quote:

NewHeights wrote:
yes ogden ave in the heights


A simple search on craigslist reveals that most 2BR on ogden ave go for less than $1400, and some have all utilities included. Yet you managed to rent out a 750 sqf 1br for $1400 not including utilities.

Ogden ave is a pretty small area, so either you are the best salesman who happens to meet the most clueless tenant. Or you are just feeding us bullshit.

The fact that you feel the need to constantly brag about your ghetto units in the heights and how "pro" you are, leads me to believe the bullshit theory more. And looks like i am not the only one.

http://newjersey.craigslist.org/searc ... =min&maxAsk=max&bedrooms=

Posted on: 2009/3/25 6:50
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Re: Is the rental market downtown crazy slow?
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But if you can't afford that, then there's always Empire by Andy Warhol - It runs eight hours and five minutes of continuous real time footage...

Resized Image


Posted on: 2009/3/24 21:47
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Re: Is the rental market downtown crazy slow?
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empire state building view. I'm sure you will get what your asking.

Posted on: 2009/3/24 21:33
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Re: Is the rental market downtown crazy slow?
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Quote:

NewHeights wrote:

Just out of curiosity,What style fight would we be partaking in.

Bare Knuckle brawl? MMA? No rules or how about just straight up box wit 3 -3 minute rounds. Im pretty well rounded.


It would be a tenant vs landlord cage match. You try to bully me into over paying for rent and security as I try to choke you with non-payment of rent.

Posted on: 2009/3/24 21:14
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Re: Is the rental market downtown crazy slow?
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Quote:

NewHeights wrote:
It included a parking spot, does yours?


Yes. And a view of the statue of liberty -- Does yours?

Posted on: 2009/3/24 21:14
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Re: Is the rental market downtown crazy slow?
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It included a parking spot, does yours?

Posted on: 2009/3/24 21:10
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Re: Is the rental market downtown crazy slow?
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Quote:

Sateen wrote:
why would someone pay 1400 to live in the heights if it is only a 1 bedroom? i live in downtown and have a 1 bedroom with a den(Manhattan second bedroom den in JC) with a deck and central heat and air...... and i pay 1595.


I live in Paulus Hook and have virtually the same specifications and price that you listed - How anyone would pay that in the heights is beyond me, but to each his own...

Posted on: 2009/3/24 21:02
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Re: Is the rental market downtown crazy slow?
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Its a fact? the same apartment would go for atleast $1800 in hoboken so I think its all relative. The renter looked at hoboken and downtown JC as well so I dont think I took advantage of anyone. Wow there are some real losers on this board.

Posted on: 2009/3/24 20:39
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Re: Is the rental market downtown crazy slow?
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Those were facts in order to make my case. I was defending my track record by stating what experience I have in real estate. It might come off as bragging.

I'd like to take you up on the ass kicking you want to give me but I have to much to lose.

Just out of curiosity,What style fight would we be partaking in.

Bare Knuckle brawl? MMA? No rules or how about just straight up box wit 3 -3 minute rounds. Im pretty well rounded.

Posted on: 2009/3/24 20:33
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Re: Is the rental market downtown crazy slow?
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Quote:

NewHeights wrote:
Is that a fact or is that your opinion?


if you look at apt's in the heights they are way less money so it is a fact. You over charged someone and are a douche for that. Only someone really uneducated about the market would pay that much. It's pathetic to take advantage of people like that.

oh and hoboken is full of meatheads and whores are you kidding me? when i am on the train on the weekend at night my friend's we call it HOboken. I have seen the girls in the very short dresses being carried up the stairs at 2am and I have listened to all the stripped shirt moron's on the train.

It's Hoboken!

Have you hung out in HOboken? Have you noticed a tend?

Posted on: 2009/3/24 20:25
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