New York City is known for the high prices of property rentals and sales, which shouldn’t be surprising for both landlords and tenants alike. Business Insider listed high construction costs and high property taxes alongside other critical factors that raise property prices in NYC. If you have properties that you want to rent out, keep in mind that tenants will have high expectations considering the rent they’re paying. You don’t have to worry, though, as good property management practices can easily keep your renters satisfied. American Apartment Owners Association emphasized that lifestyle tenants care about flexibility, convenience, and affordability. People who choose to rent a house instead of buying one expect safety, convenience of location, and fair pricing. Yes, potential renters prepare for high prices, but that doesn’t mean they’d just give in to inflated rates. They will compare the amenities and price with those of the surrounding properties.
http://www.blueharbourpropertymanagement.com/effective-property-management-to-keep-up-with-tenant-expectations/
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