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I hear you man!! It's been a trying experience finding something appropriate. Plus you have to navigate a minefield of sleazeballs everywhere.

Totally Shady!!! this kind of crap is why I've NEVER used an agent for a rental! I was shocked after coming from california, that paying a fee to obtain a rental was even standard practice.

...annnd in this market, there are plenty and i mean plenty of deals available on craigslist to be had where you deal with the person renting (not an agent) so no fees except possibly the 20-50 for a credit check.

I'd never hand over deposits or rent monies till i had a signed lease AND keys in my hand, and then still only in check form.

keep looking and you will find without an agent and with a warm fuzzy about your pocketbook

NJ does not allow security deposit above 1.5 of monthly rent.

http://www.lsnjlaw.org/english/placei ... terthree/index.cfm#3limit

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No the way it is structured is :

Monthly Rent: $2400.

Security Deposit: $3900.

However the security deposit is $3900 which more than the 1.5 months rent. Plus you have to fork over the $3900 even before there is a signed lease agreement, which seems shady.

1.5 month deposit plus first months rent is standard.
This money should be an exchanged at lease signing.

Will you be paying 2600 with 200 going toward 1 free month (13 months for the price of 12). if so that's a common incentive right now.

$2200 - $2600 is the standard 2-bed rent on a luxury unit, so you're not getting any sort of deal. Go to the leasing office of any luxury building, and you will walk out with the same without having to pay broker fee or this Holding Deposit until you have a lease and keys (and your piece of mind).

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From the Craigslist posting I gather this place is called "Morgan Lofts", which is at 142-144 Steuben Street.

I don't have any experience with this particular agent, but DBB is a legitimate real estate operation. I have met D and one of the B's as well as a couple of their agents. They have had another office in a different area of Jersey for a while, but opened this one in JC only last year so they are not well known.

Despite this, there's does seem something strange about having to lay down that much money just to look at the unit. What building is it in?

He is totally legit! He helped me win $10 million in the Nigerian lottery for only a $5,000 deposit! The check will clear any day now and I can't wait!

their website is http://www.dbbrealty.com/index.htm
the guy's website is
http://www.shoookie.com/about.shtml

you should be able to make up your mind ...

Hello,

I am currently hunting for a 3 bedroom apartment in Jersey City and was wondering if anyone had any experience dealing with this company ("Donovan Billington Barbosa Realty Group")

They seem legit but I came across one of their listings on Craigslist and got in touch with the agent listed on the ad. Because they don't break out all the details on the posting I contacted the guy (Ashok) who is from "Donovan Billington Barbosa Realty Group" and in the email he broke out the terms which I have quoted below.

He said to me the following:



"The market rent is $2600, you will be getting a $200 per month credit making you net rent (amount you pay each month) $2400.

In order to apply for the apartment you will need a $50 per person holding deposit--1.5 months rent based on the market rent ($2600 x 1.5=$3900). Once you are approved your holding deposit becomes your security deposit.

If you need parking it will be an additional $100-$250 per month depending on where you park, there may be a couple of spots at the building lot, but there are also several lots in the area if there aren't any available spots at the building lot."




I called him to clarify and he confirmed clearly that in order to even apply for the apartment I would need to pay a $3,900 deposit plus $50 application fee, prior to any lease even being signed or agreed to. He further clarified that if and once I was approved the $3,900 deposit would be turned into the security deposit. If I was not approved the money would be refunded.

Since this did not sound like any standard operating procedure I declined an appointment to see the apartment as I became suspicious. However I found the agent company on the web and called them up and so they do seem to be a legitimate enterprise and this guy Ashok does work for them.

I kind of need to find an apartment quickly and this place seems doable, but at the same time I am vary of being scammed.

I have attached the web address to the craigslist posting below:

http://newjersey.craigslist.org/apa/1754510889.html

Does anybody have any ideas about what I should do? Am I just being paranoid? or should I steer clear?