AptStar Case Study #4
Landlord raised the rent and it was time to move to a larger space
A portfolio manager at one of New York City's largest firms received his renewal lease and it had an extra couple of hundred dollars tacked onto it. If he was going to pay more he wanted a larger and better apartment to justify the increase in the money he spent on rent.
Location was also a big factor as he needed to be south of 8th Street. Due to his busy schedule he couldn't afford wasting time and needed trusted and reliable results. He knew, from previous rental experience, he could not get this from a traditional real estate broker. Of course, he also wanted to avoid the hefty broker fee -- which in his new rental bracket would have meant a fee of over $7,500.
On his "go see" day, I sent him a total of 3 apartments. All within his price point and all with unique features that made each one a perfect fit.
I instructed him, behind the scenes, on how to retrieve the keys for the apartments selected for him. In one instance he had to pick them up at a nearby fish store. Not a bad trade off for bypassing the broker fee. He opened the door, keys from the fish store in hand, and fell in love with the first apartment on his go see list.
I urged him to apply immediately because in the city apartments last a nano second. He followed my advice, applied, got accepted, and signed the lease on the same day. The rest, as they say, is history. He was happy in his new apartment for three years, at which point he received a rather large raise. New raise in hand we repeated the above and he rented a larger apartment. No fish store stop was needed the second go around.