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I've been looking and researching for an apartment in Brooklyn and Queens. Currently I live in Brooklyn. As time goes on I'm noticing most apartments listed are room shares and not the full apartment alone. For example, I would look on Craigslist and it would list the unit as a one bedroom, but when you click for more information, it shows that its a three or four bedroom unit. Usually the cost for a room can run $1200 and up and to me for that much I should have a one bedroom to myself. Why the spike in room shares or renting just a room alone? I know with the city getting pricier people would rather choose that option but I don't want to live with randoms. I'm having a hard time finding an affordable studio or one bedroom because the city just seems to rent rooms now.
Usually when a trend happens, it is because of the market. In this case, there is probably demand for rooms than whole apartments. There are many people than cannot afford to rent out whole apartments.
And your last sentence shows you don't know that studios and one bedrooms are popular and get rented out fast so there is very little inventory whereas multiroom apartments move slower so that's why LL are trying to rent them out by the room.
Usually when a trend happens, it is because of the market. In this case, there is probably demand for rooms than whole apartments. There are many people than cannot afford to rent out whole apartments.
I know but the cost of one room is nearly the cost of what a studio or one bedroom can go for.
This is the trend that's been happening over the years and many of the times is not the LL posting the ADs is someone who rents the apartment and just want to live there for free so they make the others pay the rent.
I have a friend that did something similar where they have a 3 bedroom rent stabilized apartment where his mom and brother use to live there. They moved out although their names are still on the lease, he moved into another apartment with his GF then rented out each of the 3 bedrooms for more than what he pays a month. Lets say he pays $1200 a month to the LL for rent, he installed cable with all the channels and a 50/25 internet, then rents out each room for $1200 a month utilities included. So hes making $3200 a month minus rent + utilities.
Last edited by SoullessOne; 08-26-2018 at 10:47 AM..
This is the trend that's been happening over the years and many of the times is not the LL posting the ADs is someone who rents the apartment and just want to live there for free so they make the others pay the rent.
I have a friend that did something similar where they have a 3 bedroom rent stabilized apartment where his mom and brother use to live there. They moved out although their names are still on the lease, he moved into another apartment with his GF then rented out each of the 3 bedrooms for more than what he pays a month. Lets say he pays $1200 a month to the LL for rent, he installed cable with all the channels and a internet 50/25 internet, then rents out each room for $1200 a month utilities included. So hes making $3200 a month minus rent + utilities.
If you can find something at $1300-1400 you would be lucky. Studios are almost the price of one bedrooms if not more. I pay $1600 for my studio that is renovated, but I have seen one bedrooms going for that or a little more. For while the floor in my area was $1700-1900 for one bedrooms which has eased up slightly. In my building the floor is around $2100 for one bedrooms, with that going up to about $2500-2700 depending on the amenities and how much square footage.
FYI- here is the whole appt for rent.
Manhattan 140-square-foot studio is on the market for $1,375 a month https://dailym.ai/2BMxYnL
Wait, my balcony has more square footage than their entire apartment .
I should charge them to live on my balcony for $1000, no utilities included.
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