{"id":1021,"date":"2012-03-29T12:00:27","date_gmt":"2012-03-29T19:00:27","guid":{"rendered":"http:\/\/www.yardi.com\/blog\/?p=1021"},"modified":"2021-02-03T17:12:37","modified_gmt":"2021-02-04T01:12:37","slug":"from-the-trenches","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/from-the-trenches\/","title":{"rendered":"From the Trenches"},"content":{"rendered":"

William Lluberes has worked in international trade in Chile, had a career in the information technology field, and now makes his living as a New York City property manager, one of the most eclectic real estate jobs known to man.<\/p>\n

Self-described as someone who \u201cgets bored easily,\u201d William seems to have found one type of work that will never allow that to happen. The world of New York City real estate, and its subregion of apartment leasing, has too much complexity, ongoing change and nuance.<\/p>\n

New York\u2019s run-and-gun rental climate of low vacancies, tiny apartments and cutthroat pricing is famous around the globe, but the recent economic downturn had major impact on leasing realities for property managers, William told us.<\/p>\n

\"New<\/a><\/p>\n

 <\/p>\n

 <\/p>\n

Here are some of the insights he shared from the trenches:<\/p>\n

-Renters in the city have become more frugal with their hard-earned dollars<\/strong>, and they\u2019re now willing to commute a bit (up to 30 minutes) to get to jobs in Manhattan. Fed up with prices, entry level workers are willing to consider neighborhoods like Queens or Long Island City where they might be able to get a 750 square foot unit for around $1600, vs. a 400 square shoebox for $2225 downtown.<\/p>\n

-Specials and renovated buildings are easier to come by.<\/strong> Property owners, realizing the market has become more competitive, are often undergoing piecemeal renovations of properties with fixtures older than 15-20 years and updating with granite countertops, stainless kitchen appliances, faux cherry wood and more. 13-month leases with one month free at signing are also becoming more common, William said.<\/p>\n

-Foreign capital.<\/strong> The highest end apartment units in Manhattan and elsewhere, upwards of $2500 a month, are often being rented to visitors and relocated residents from Europe and Asia, he observed, whose money stretches further in the U.S. than it did four or five years ago. (This extends to home sales as well – according to DataQuick<\/a>, nearly 4 percent of homes closed in New York County between May 2011 and January 2012 have a foreign mailing address on the property deed.)<\/p>\n

A property manager who has worked for several NYC companies, William prides himself on being able to parachute into a job, a country or even an individual apartment community and talk to residents on their level.<\/p>\n

\u201cI can connect with anybody in any neighborhood, anywhere,\u201d he said, describing on-the-job experiences ranging from trying to help laid off financial sector employees get out of their lease commitments after losing their jobs to having a beer with a superintendent at one of his Uptown properties on the weekend. His work and travel in Chile allowed him to pick up Spanish, so he can communicate with work crews. His approach to dealing with them is the same as that he\u2019d use when showing a prospect an apartment.<\/p>\n

\u201cAnybody in real estate in New York should be able to connect in any one in any level. I\u2019ve been from high end to low end to the welfare level, and I can speak to these people,\u201d he said. \u201cEveryone wants to be treated with respect.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

William Lluberes has worked in international trade in Chile, had a career in the information technology field, and now makes his living as a New York City property manager, one of the most eclectic real estate jobs known to man. Self-described as someone who \u201cgets bored easily,\u201d William seems to have found one type of […]<\/p>\n","protected":false},"author":413,"featured_media":1139,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,3354],"tags":[22],"class_list":["post-1021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-people","category-team-yardi","tag-residential"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"William Lluberes has worked in international trade in Chile, had a career in the information technology field, and now makes his living as a New York City\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"From the Trenches\" \/>\n<meta property=\"og:description\" content=\"William Lluberes has worked in international trade in Chile, had a career in the information technology field, and now makes his living as a New York City\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/from-the-trenches\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2012-03-29T19:00:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-04T01:12:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2012\/03\/NYCfeat-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"230\" \/>\n\t<meta property=\"og:image:height\" content=\"185\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Leah Etling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Leah Etling\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/from-the-trenches\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/from-the-trenches\/\",\"name\":\"From the Trenches - 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