Items tagged with 'renting'

Maybe all those new apartments are starting to have some effect on rents

downtown Albany from Corning Tower 2017-April

Downtown Albany has been hot spot for new apartments in recent years.

A sort-of follow-up to the recent post about all the apartments the Capital Region has been adding the last few years (with many more in the pipeline)...

Capital Region rents have been on an upswing during the past half decade, but that increase appears to have flattened during the last year. That's one of the bits from the new Capital Region multi-family market report published by Sunrise Management & Consulting.

Sunrise president Jesse Holland in a press release: "The data indicates that the market is getting saturated ... Everyone wants to know if the time to build more apartments is over, or if the economy is going to take off."

A chart (because of course) and a few more interesting bits from the report...

(there's more)

The minimum wage and "the housing wage"

housing wage table NYS map

The deeper the green, the higher required hourly wage to afford a 2BR apartment. (Don't squint, there's a bigger, clickable map after the jump.)

Later on AOA: Here's an updated look at New York's planned minimum wage increases and the housing wage. [2016 April]
____

The issue of the minimum wage -- and whether it should be raised -- has been been circulating recently, both here in New York State and nationally.

The Empire State minimum wage increased to $8/hour at the beginning of this year, and it's set to increase to $9/hr by the end of 2015. On the national level, the Obama administration has been pushing for the minimum wage to increase to $10.10.

One of the complications in talking about the minimum wage is that just tossing around the number lacks context for what that amount of money is actually worth, especially when it comes to necessities such as housing. Example: What sort of rent could you afford is you were making minimum wage?

But a recently released report tried add just that sort of context by looking at how the minimum wage in New York -- and every other state -- stacks up against what it costs to rent an apartment.

So, let's have a look at New York State and the Capital Region...

(there's more)

The rent is...


A few average rents by type of apartment.

The average asked rent for apartments in the Capital Region in fall 2012 was $1,248 ($0.93 per square foot) -- up more than 6.5 percent compared to same period a year before, according to the Albany-based Sunrise Management & Consulting. The average rent was up more than 10 percent compared to two years ago.

Here's the methodology. It's important to note these are asked rents, and don't take into account discounts. Also, the firm notes that the survey includes mostly large complexes (50 or more units).

[via Biz Review]

data source: Sunrise Management & Consulting Fall 2012 Multifamily Rental Market Report

Can my landlord do that?

key opening doorAnonymous emails:

Help AOA! I received a letter today from the property manager of my apartment building [regarding upcoming apartment inspections to review the condition of units] that rubbed me the wrong way. This in particular, "we will note any cleanliness or excess clutter issues that need to be addressed."
It gave me the feeling they are going to snoop around my unit looking for things they don't approve of. I have already had a few issues with privacy; such as entering my unit without notice. Is this legal or even reasonable according to the Right to Privacy Public Service Law § 228?

Well, we are not lawyers. We don't even play one on TV. But here's a tenants' rights guide published by the state attorney general's office.

Anyone have suggestions for Anonymous about how to proceed? Please share.

photo: Flickr user Menage a Moi

What's All Over Albany?

All Over Albany is for interested and interesting people in New York's Capital Region. In other words, it's for you. It's kind of like having a smart, savvy friend who can help you find out what's up. Oh, and our friends call us AOA.

Search

Recently on All Over Albany

The week ahead

Here are a few things to keep in mind, look forward to, or keep busy with this week, from the weather (sunny ), to Muppets,... (more)

Today's moment of mural

While at the Thomas O'Brien Academy Of Science And Technology -- TOAST -- this week for the Lincoln Park planning meeting, we walked past this... (more)

Here's when the seasons really start and end in the Albany area*

Winter starts December 21 -- by the astronomical definition. And it starts December 1 by -- the meteorological definition. But when does it really start... (more)

Albany Archives at APL: Local history of Christmas cards and Santa

The first Christmas card printed in the United State was printed in Albany. It's true. It was printed at 516 Broadway -- "The Temple of... (more)

The 2019 MLK Day celebration at the ESP will include Rashad Jennings and Lillias White

The Empire State Plaza will again host a celebration of Martin Luther King Jr on Martin Luther King Jr. Day, which is January 21 this... (more)

Recent Comments

I've seen a steady increase in cycling trips along Madison Ave. after the road diet. I've been one of those riders, too. It's made summertime trips from my house to the Point on Madison that much faster than walking, and there's really no need to drive that short distance - thereby saving a spot for another patron. I've not only enjoyed the F out of the trip, but burned a few calories, too, which considering my diet, is much needed. I'm very very pleased with this effort and thank CDTA, CDPHP and CDTC for their efforts in making this happen. I'm resolving to make MORE trips in 2019!

The Collaborative

...has 1 comment, most recently from Lex

The Albany Public Library is eliminating late fines for books and other items

...has 16 comments, most recently from Brainiac

Today's moment of mural

...has 1 comment, most recently from Justin Devendorf

Helderberg to Hudson Half Marathon

...has 3 comments, most recently from Mirkat

Bike share grew in both use and reach this year -- here's what CDTA's thinking about for next year

...has 4 comments, most recently from Matt