Typical Questions Answered
How much is North Star Real Estate Group's broker fee?
Clients pay a broker's fee when they rent a property through North Star Real Estate Group, however, North Star Real Estate Group does not charge for information provided by the website nor do we charge for the viewing of apartments or rental properties through our brokers.
- Unfurnished apartments: With a 1-2 year lease, North Star Real Estate Group usually charges 15% of annual rent.
- Furnished/Short Term rental fees: Please call or email for our discount pricing.
When should a prospective renter begin an apartment or property rental search?
Potential renters should begin their search 4-6 weeks prior to an anticipated moving date. Apartments are not usually ready more than 6 weeks ahead of a lease starting date.
What are Rent Stabilized buildings and/or apartments?
Rent stabilized buildings and/or apartments are buildings in which the rent is regulated by the City and State of New York. Rent increases are only about 2-4% annually. Once a renter secures a rent stabilized apartment, they have a right to renew a lease agreement indefinitely. A lot of brownstones, townhouses with more than 4 units and older tenement/elevator buildings in NYC fall into this category. These types of building are owned and operated by small to medium sized landlords/management companies.
Why choose North Star Real Estate Group? What sets us apart from all the others?
Prospective renters seek out North Star Real Estate Group's service for 2 reasons:
Firstly, our clients want to find the best deals coupled with the most value they can afford. They understand North Star Real Estate Group's brokers will save them considerable money in the long run. They understand that we offer a variety of services, covering all aspects of their property search. Our clients understand that even though they might be able to find 'No Fee' apartments, our brokers work extremely hard to negotiate the lowest possible monthly-rent payments. This amounts to long term savings that renters who don't use North Star Real Estate Group probably would not get.
Second, our clients want to save the time and energy that gets wasted when trying to find and close on a property in NYC's dynamic real estate market. The process can be very frustrating without much result. Our clients come to us in order to utilize the guidance, knowledge and experience of our licensed brokers. Our management team brings over 50 years of combined NYC real estate excellence to the table. Our clients benefit by saving money, time and effort.
Is having a pet a problem?
Having a dog narrows the selection of properties down to 15% of what is currently available on the market. Cats tend not to be as much of a problem. Clients tell your broker about pets to save time and money.
Besides rent stabilized buildings, what other types of apartment buildings are there in NYC?
There are rental buildings, co-ops, and condo buildings.
- Rental buildings: Usually full service, modern, doorman buildings; rents are generally high but are at market level. Annual rent increases might be considerable, depending on market conditions. These buildings are managed by big corporations trying to maximize profit. North Star Real Estate Group has access to these listings as well as more affordable more economically priced rental properties. We have access to most of the rental listings in the New York City Area.
- Co-op and condo buildings: These are also usually full service buildings. Units are owned by individual owners who are not very familiar with market conditions. It possible to get good deals in co-ops or a condo building. The drawback is that new tenants might have to meet with the co-op or condo board. This process can take over a month and requires the applicant to undergo rigorous screening. Many co-ops do not allow lease renewals. This means more apartment hunting after the first term of your lease. North Star Real Estate Group is selective about co-op buildings because of the inflexibility and arbitrary rules.