When they say it’s a renter’s market, they aren’t kidding. There’s just no end to the wacky places people are deciding to rent. And owners and investors are making a killing on some of these properties.
By far, the top of the list is dominated by one Manhattan apartment. And you won’t believe the rent.
Yeah, I had to read that a few times too just to get my head around it. It’s the entire top floor of one of the most luxurious hotels in the city. It’s got all the amenities you’d expect and each room is bigger than the average apartment in New York.
Sure, it’s mainly used by foreigners with families staying the city for a while. And it might sound more like a hotel room than a rental unit. But it’s an impressive figure. And while it’s an exception it should wake you up to a new reality.
Get in the rental business. You never know where demand will pop up but you’ve got to be ready to move with it.