The combination of ungodly heat and a new Puppy has me up for the third night in a row at 4:00am answering emails and writing. So forgive me if I seem a bit loopy.
For the past few days we have discussed options available to apartment hunters. Today we will look online bulletin boards.
While there are many online bulletin boards out there in internet land, arguably the most popular is CraigsList.com. Instead of launching into the history of the site, I will jump to the pros and cons, since most people are familiar wit Craig’s List.
PROS:
Craig’s List is free.
Craig’s List is used by brokers, AVI’s, management companies, and private owners, so you can get a wide spectrum of apartments.
Legitimate owners who post are typically pretty good about removing posts once the apartment is rented.
Since the site started charging brokers and AVI’s there are less bait and switch ads. A bait and switch is an ad that claims that the apartment is by owner or no fee, but when you call, THAT apartment is gone, but there is this other one that has a fee.
CONS:
You have to do all of the leg work yourself.
You are in competition with hundreds of other people who are also using CraigsList.com to find an apartment.
While the vast majority of the listings are legitimate, many real estate related scams are perpetrated on Craig’s List because of the ease of posting and the number of users.
There are still bait and switch ads.
You have no way of knowing what a particular management company’s application requirements and procedures are until you have invested the time in actually going to see the apartment.
THINGS TO CONSIDER:
Apartments move fast. Make sure that you have an application package together. For more information on Application Packages that get accepted, check out The Nouveau Native’s No Fee New York 2008.
Most are first come first served. If you don’t get there as soon as it is posted, you will likely be out of luck.
DO NOT pay money to someone at an apartment. ONLY pay deposits ect in a management company, landlord, broker, or AVL office.
DO NOT send money through Western Union for an apartment.
If it seems too good to be true, it is too good to be true.
Personally, I think that Craig’sList.com has been a revolutionary force in Manhattan real estate. However, there are problems. People do post illegal apartments, illegal sublets, posts that are contrary to anti-discrimination laws, and all manner of scams. If you keep your head about you, you can find some real deals on Craig’s List, but it takes a lot of work. As with all aspects of real estate in Manhattan, you have to weigh the cost of your time and effort against the cost of an AVL or broker.
Tomorrow we will talk about The Nouveau Native’s No Fee New York guide book series and discuss ways that you can make the entire job of finding a place to call home easier, no matter what search method you use.
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2 comments:
How do you tell who is legit and who is fake on Craig's List? I keep calling ads that turn out to be just another agency or someone trying to charge fees.
Answer: Are you filtering your search so that you only get "no fee" or owner listings? If you are and you are still getting fee and agency listsings, you should flag the post so that it can be removed.
Do remember however that some agencies do have no fee units and may owners operate real estate development businesses. So don't dismiss an ad simply because it rings to a real estate office.
WHF would anyone use a listing service if they just take open listings and stuff out of the newspaper?
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