Lee Lin

Brokers and Landlords

How Good Brokers Raise Their Consulting Rates

For those who do consulting work, a once counter-intuitive secret is now common knowledge: accepting a lower hourly rate often means having a more demanding, more obnoxiously clueless, and more frustrating client. The theory is that lower-paying clients don't...
Brokers and Landlords

Herald Towers Bucks the Winter Incentive Trend

Most landlords decide to add incentives to reduce their vacancy rates as we head into the Winter season. After all, most rational people try to avoid moving in the cold weather, around the holiday season. Even many brokers decide...
Rental Management

November the Best Time to Move?

Wow, I saw this while glancing through my inbox yesterday.  505 West 37th is offering two months free + two months OP!!  That's 4/14 months of discount off the gross from the landlord's point of view! Does this mean...
Other

NYC Apartments Website Run by Russian Spy Anna Chapman

Wow. We always knew that the New York real estate scene had some fairly shady characters. Forget about the dozens of landing page sites that come and go each year.  They are the small fish that clutter our search...
Rental Management

The End of the Convertible Flex-2?

One of the greatest economies of scale phenomenon Manhattan renters utilize each year is the convertible 1BR, aka the convertible flex-2.  While an individual renter looking for a nice Midtown or downtown studio will pay $1800-$2200, a pair of renters looking...
Brokers and Landlords

Landlords Experimenting with Incentive Reductions

Goldfarb announced today that starting next week, they will stop paying OPs (broker fees). Along with the Brodsky "1M free or 1M OP" policy and steady incentive reductions from Stonehenge, this latest news significantly reduces the no fee luxury...
Brokers and Landlords

Understanding Brokerage Commission Models

Every real estate brokerage wants to differentiate themselves from the competition. The heads of any firm will tout their unique dedication to excellent customer service, their high integrity and moral standards, their hard work ethics, and their innovative operations....
Fun

Broker Poker Tourney?!?

Manhattan real estate seems to be on the verge of a bottom, if not already there.  Sure, you can point to economic data, jobs reports, the S&P rally, inflation expectations, and disappearing landlord concessions. These are all valid supporting...
Brokers and Landlords

Undercover Broker: How Newbie Agents Add Value

The average Manhattan apartment rental commission is about $2,000 per transaction.  Hard as it is to believe, that's a fairly efficient price.  The barrier to entry to become a licensed real estate agent is 75 hours, $400, and two...
Brokers and Landlords

Apartment Brokers and Head Hunters

A Manhattan apartment broker is a middle man.  However, despite all the sleazy stereotypes, many grounded in truth, the best middlemen add tremendous value. Sadly, mediocre brokers add little or no value, and a handful of bad brokers reach...
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About Me

Lee is a data geek from MIT who spent years at quantitative hedge funds cranking out models to explain and predict financial markets. Real estate has always been a big part of Lee's life. He grew up helping out at his parents' Jersey Shore motels, became a landlord his first year out of college, analyzed mortgages on a fixed-income trading desk, and acquired a New York real estate license. At RentHop, he combines his nerd talents and real estate knowledge to constantly tweak the secret HopScore. He currently lives near Bryant Park and his favorite restaurant was Cafe Zaiya (now known as Tomiz).

Latest News

Apartment Hunting

Manhattan Listings Under $2,600 in November 2024

Renters know that Manhattan is expensive. The median price for an apartment in the borough decreased to $4,500 this...
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