Radio City Condos on MLS shows a total of 18 leased transactions for 2013. That’s an average of 1.5 units per month, or approx one unit every 2-3 weeks. With about 400 condo units total, this is a rental ratio of approx 3.25%. If you recall from our article Radio City Condos Sales Summary 2013, a total of 29 units changed hands, making the total number of units that were transacted (sold or rented) at 47. That means that virtually every week a unit at Radio City Condos is being sold or leased.
Radio City Condos Rental Summary:
- Total of 19 units reported leased
- Average Asking price $1,858
- Average Sold price $1,836
- Average Sold price is 99% of Average Asking Price
- Average Days on Market 17 Days
- Highest price was $3,400
- Cheapest unit leased for was $1,400
- 12 one bedrooms or one plus den were leased
- Average price for one / one plus den was $1639
- 6 two-bedrooms leased was $2,563
- Although 17 days is reported (time to take to lease the unit), the actual number is much lower and likely around a week. The lease is only reported completed when all the conditions go through.
- One bedroom units are easier to find, about one per month is leased
- Two bedroom units are hard to get. About one every two months become available.
Landlords Need to Know:
- If you have a unit for lease at Radio City Condos, it will rent for top dollar and relatively quickly.
- Get the best agent you can to work for you. The agent will ensure that you maximize your rental income to the best possible tenant available
- Only work with professionals. Ask the agent is they had worked at Radio City Condos before. How did they do? What do they know about the rental market?
Tenants Need to Know:
- Radio City Condos go quickly and they are hard to come by. So you need to be prepared and ready to go.
- Get the best possible agent to work for you. it costs nothing to the tenant. The expert agent will help you fend other applicants and represent you to the Landlord, increasing your chances of getting the unit.
- Be prepared. Have your rental application, references, job letter and credit summary printout ready with you. Have first and last amount available in your bank account and be ready to run to your bank if you get an offer in.
- Make sure you have 10 post-dated checks available. If you do not have a checkbook, go to your branch and get checks.
- Some Landlords prefer direct deposit via EFT or Email Money Transfer. That is a great option that you should embrace.
+Yossi Kaplan is an original owner at Radio City Condos and has helped many buyers, sellers and renters successfully transact. Need an expert on your side who is professional and friendly? Contact Yossi Kaplan now.
Disclaimer: all information was obtained from MLS. If you have any questions or would like to know the value of your condo, simply email us.