Single Family Management
There are 27 property management companies in New York, NY 11 Companies specialize in Single Family property management. 22 Companies specialize in Multi-Family property management. 18 Companies specialize in HOA property management.
The average rent for a 3 bedroom house in New York, NY is $2,087.00. When you receive your requested free market assessment, compare the average rent to what a property manager expects your property to rent for before making your decision on which manager to hire.
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New York, NY Property Management Companies
The City That Never Sleeps. The Big Apple. The Empire City. Known as one of the economic and cultural capitals of not only the U.S., but the world, New York City is a vibrant place, filled with glitz, glamour and grand landmarks, stretching from Brooklyn to Broadway and everywhere in between.
New York City seemingly has it all - a wide array of professional sports teams, world-class theater and arts, fine-dining establishments around practically every corner and much, much more.With all of these features, it's little wonder why many property owners purchase real estate throughout the city.
Property Management Companies Can Greatly Assist New York City Property Owners
As many of the nation's residents are turning to renting apartments instead of purchasing for-sale residential properties, today is a prime time for property owners to maximize their dollars and employ the services of an esteemed and reputable rental property management firm.
Even with some of the highest rents in the nation, experts still maintain the allure of living in New York City is too much for many to pass up, which has kept the city's apartment market strong since the start of the recession. Add in the fact that it's costlier to buy homes in the city than rent and property owners will surely see why applicants are in substantial supply these days.
Due to the high volume of renters in New York City, multifamily property owners would be wise to consider hiring rental property management firms to run the day-to-day operations of their units, in turn making their lives much easier.
New York City Rental Market at a Glance
|New York City Area||US|
|2012 Population||19.8 million||380 million|
|2010 Percentage of renters||69.00%||34.00%|
|2013 (1st Q) Rental vacancy rate||5.10%||8.40%|
|2013 Median house price||$440,000||$185,000|
|2013 Median Family income||$51,270||$51,400|
|2013 Median rent (3 bedroom)||$2,087||$1,350|
The New York City metro area (population 19,729,930) experienced a peak vacancy rate of 7.8% in the first quarter of 2012. It is now at its lowest vacancy rate at 5.1% for the first quarter of 2013. This low vacancy rate was coupled with an increase in New York's median rent from $1,596 in 2010 to $2,087 today (2013). The current median family income is $51,270 dollars and the median home price is $440,000.
Vacancy rates and population estimates taken from census.gov/housing
Rent data from HUD.gov
Median family income and price from CNNMoney.com
Percentage of renters reported by City-data.com
Finding New York City Property Management Companies
Locating the right property management company for you is vital to ensuring your business is run smoothly and efficiently. Sign up with All Property Management to choose from New York City's top property management companies. Just type your zip code into our search engine and you'll discover a variety of management firms in New York City to receive free quotes from.