The Big Apple: Many brokers express optimism

Renting out your apartment entails pitfalls that can be avoided by knowing them.

Once you rent out your apartment, you create a “landlord-tenant” relationship with your renter.

That relationship is governed by a set of very specific (and technical) laws enacted by New York State and New York City, notes blogger and real estate lawyer Ron Gitter, who is a friend of mine.

Those laws tend to favor your tenant, but the “Landlord-Tenant Part” of the Civil Court of New York City does offer a judicial forum, albeit not necessarily a speedy one, for resolving issues that can’t be settled by mutual agreement between the parties.

Condo owners need to consider an array of business related issues before they enter into a lease.

Firm’s analysis has New York City surging ahead of most others in many categories a decade and a half from now

Cities are regaining their previous glory, according to MicKinsey Global Insight, with New York poised to lead the pack.

“The underlying growth of the markets where a company’s business portfolio is positioned explains two-thirds of that company’s revenue growth,” the firm observes in its ranking of of the top 600 cities by 2025.

The Big Apple did well in a number of categories that McKinsey used.

If you’ve survived the winter of bedbug anguish, just wait for summer to be truly discontent

Bedbug experts are warning New Yorkers to brace for an infestation explosion come summertime.

While winters are usually quiet, exterminators say (as you might expect) that they’ve been working overtime.

“I think you’re going to see a tremendous increase,” said Jeffrey Eisenberg, founder of Manhattan-based extermination company Pest Away and author of “The Bed Bug Survival Guide.” He estimates he’d treated 20-40 percent more bedbug cases last winter than a year earlier.

According to city numbers, 311 complaints about bedbugs in Manhattan have skyrocketed in recent years, with just 103 complaints in 2003 versus 2,553 in 2009 — an increase of more than 2,000 percent. And while the number of complaints appears to be leveling off, there were 2,649  in 2010 — approximately 4 percent more than the year before.

Before you even compare paint chips, there are 12 things you need to know about changing the colors in your apartment

A panel of experts assembled by BrickUnderground.com says you shouldn’t just hand your impoverished brother-in-law a paint brush to cover that misbegotten magenta in the living room with a lovely lavender.

First, you need to tip the super. Then you need to follow 11 more bits of painting advice, depending on whether your own the unit or rent one.

Move to Flatiron/Chelsea to be really connected

A decade after the dot-com crash stopped the rapid growth of the city’s booming Internet sector, a high-tech corridor has developed in the Flatiron district and neighboring Chelsea.

The older, small office buildings in the Flatiron district have attracted start-ups, while large companies such as Google and IAC/InterActiveCorp have found homes in Chelsea.

REBNY’s statistically suspect publicity gambit finds that 72 percent of surveyed brokers expect Q2 improvement

Residential brokers are bullish on the second-quarter housing market in New York City, according to new survey results from the Real Estate Board of New York.

Of the 394 residential brokers REBNY said responded through April 8, 72 percent said they expect the market to improve in the second quarter. And brokers reported having the sales numbers to back that up.

Five percent more brokers said they have closings scheduled in the next three months compared with last year. Among the survey’s other findings, 7 percent of brokers reported sales that closed above the sellers’ asking price, up from 4 percent in the fourth quarter of 2010.

For area’s biggest architecture firms, it is not only buildings that are looking up

With developers once again daring to make plans for new projects, many of New York’s biggest architecture firms are hiring again, according to Crain’s New York.

Out of the city’s 20 largest firms, 12 added architects during 2010, while only four cut their staff of architects. Hiring has been across the board, from entry-level posts all the way up to the most experienced.

“We’re seeing a growth in activity in North America, in particular on the East Coast,” said Paul Katz, managing principal at Kohn Pedersen Fox Associates, which was ranked as the largest architecture firm by staff count in the New York area.  It had 163 licensed architects in 2010, up from 154 architects in 2009.

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201

Malcolm@ServiceYouCanTrust.com
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