Looking for Qualified Property Management Companies in New York, NY?

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Specialty # of Agencies
Single House or Condo 2
Apartment Buildings 8
Home Owners Association 8
Total Local Companies 12

The average rent for a 3 bedroom house in New York, NY is $2,056.00. 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.

New York, NY Rental Market Overview

40% of New York State Residents live in the NYC Metropolitan Area
There is only one vastly significant rental market noteworthy enough to make the Marcus & Millichap National Apartment Report (NAR) in 2013, but New York, NY placed first out of all of the other 43 markets recorded in the index. That's not to say that there isn't an apartment market in Albany, Buffalo or Rochester, but when your state has the most populous city in the nation and 40% of the residents in your state live in that city, it's tough to show comparable revenue numbers on a chart. Strong job growth in technology and science combined with amazingly low 1.9% vacancy rate contributed to NYC's top placing in the 2013 NAR. The addition of 9,000 new apartment units should keep the vacancy rate at or near the same percentage in 2014. Historically Buffalo has enjoyed job growth in health care and education, but the city's current unemployment rate hovers just under 8% and net migration lost 2,000 inhabitants in 2012 according to Forbes. The business magazine ranked Rochester at #45 on their list of The Best Places for Business and Careers, five places ahead of NYC. Like Buffalo, Rochester's current job growth is centered on education (The University of Rochester and the Rochester Institute of Technology) so the medical and technological sectors do better here than other occupations. Net migration in Rochester was -2,510, but keep in mind that all NY towns and cities listed on the Forbes list lost population in 2012, with NYC losing the most (over 16,000) and Utica, NY (#193 on list) shedding only 250 inhabitants.

Discover New Rental Opportunities
While the obvious strategy of following the money might seem like the easiest option for investing in New York State, the 2013 NAR also pointed out that areas outside Manhattan (Northern New Jersey ranked 8 out of 44 on their index) appeal to renters who work in the city but don't want to pay the breathtaking cost of living for a brief commute. Distressed properties on Long Island or in and around the Hudson Valley could offer excellent investment entry points for savvy independent investors. That's why many small landlords consult with a New York property manager before considering substantial changes to their property portfolios. Most New York property management companies employ real estate professionals who work with a range of local landlords and have firsthand knowledge of anticipated opportunities in their market. Take a moment to review the property management profiles listed here and then request your free information.

Top Single Family Managers

57 & 7th Ave
New York City, NY 10001

Managing: Single-Family :
Keeping it simple, doing it right!

600 Madison Ave
New York, NY 10011

Managing: Single-Family : Multi-Family :
Protecting Your Real Estate Investment, While Maximizing Its Potential

1105 154th Street.
Whitestone, NY 11357

Managing: Single-Family : Multi-Family : Commercial
Why Go Anywhere Else? As a Full Service Property Management Company we specialize in all types of NY Investment Properties!

Top Multi-Family Managers

3605 Sedgwick Avenue
Bronx, NY 10463

Managing: Multi-Family : Association :
Midas Property Management is a full service management company with more than 25 years of experience

44 Court Street, Suite 1217
Brooklyn, NY 11201

Managing: Multi-Family :
WE MANAGE PROPERTIES LIKE WE LIVE THERE! Responsive, top tier services for building owners/developers and their residents.

513 East 13th Street
New York City, NY 10009

Managing: Multi-Family : Association :
FREE month of Property Management Services- us for details!Your Fortress- Our Strength!

Top Association Managers

513 East 13th Street
New York City, NY 10009

Managing: Multi-Family : Association :
FREE month of Property Management Services- us for details!Your Fortress- Our Strength!

3605 Sedgwick Avenue
Bronx, NY 10463

Managing: Multi-Family : Association :
Midas Property Management is a full service management company with more than 25 years of experience

272 Malcolm X Blvd.
New York, NY 10027

Managing: Multi-Family : Association :
Specializing in Harlem and Upper Manhattan condo's co-ops, multi-family rental buildings and townhouses Proactive & local

Additional Property Management in New York, NY

45-18 court square suite 409
Long Island City, NY 11101

Managing: Association :
We Put a Team of Experts Behind Every Property We Represent

316 East 89th Street
New York City, NY 10128

Managing: Multi-Family : Association : Commercial
Representing New York city's finest residential, retail and office properties for over 35 years.

104 Avenue O
Manhattan, NY

Managing: Multi-Family : Association :
Serving the people behind the property.

1 Marine Plaza; Suite 304
North Bergen, NJ 07047

Managing: Commercial
We can save you TIME and MONEY!

800 S. Gay Street , Suite 700
Knoxville, TN 37929

Managing: Association :
We offer REMOTE and VIRTUAL accounting services to Community Associations.

998 Old Country Road, #C303
Plainview, NY 11803

Managing: Multi-Family : Association : Commercial
We have over 25 years experience in the management, ownership and interior construction of apartment buildings.

45..31 Bell Boulevard 2nd Floor Front
Bayside, NY 11361

Managing: Association :
We don't just manage, we get things done. Co-op & Condo Association Management Services.


Q2 2015 Rental Ranking Report

New York, one of the world's most recognized cities, has long been a place where dreams come true. And although the cost of living in New York is indisputably high, it continues to entice people from every background and walk of life. With the best Walk Score of any city in the United States, all the excellent amenities, nightlife, dining and entertainment that big cities have to offer and a surprising amount of green space, New York isn't just a city - it's a place people are proud to call home.

The population of New York rests around eight and a half million people. This figure is anything but static, and there were years in decades long past where more people were leaving the city than moving into it. Even in periods of population decline, however, vacancy rates for New York rentals were tiny. The current vacancy rate across all five of New York's boroughs is just 3.10 percent, the second lowest vacancy rate in the country, and it will likely drop even further as New York's population continues to increase.

In the 1970s, renters accounted for well over 70 percent of New York's population. While that figure has declined over the past few decades, the proportion of renters remains well over 60 percent. The ratio of New York renters to homeowners is roughly opposite that of most other American cities.

While the New York housing market has had better decades than others, like the city itself, one thing is certain about its rental market: New York rental properties will always yield excellent returns.

Q2 2015 New York Rental Market Update

In Q2 2015, New York was the ninth-best Northeastern housing market to own rental properties in and 55th-best in the country as a whole. Since Q1 2015, New York dropped six spots in the Rental Ranking Report's regional rankings for the Northeastern U.S. and 21 spots in the national rankings.

Everyone in the world knows that New York is a highly desirable place to live and, accordingly, it has extremely expensive housing. This doesn't necessarily mean it's a great market for rental property investment, however. The average capitalization rate, a statistic that compares annual rents and property values that is commonly used by investors to gauge the attractiveness of rental properties, was a modest 6.58 percent for New York rental real estate in Q2 2015. While hardly horrible, New York's "cap rate" is smaller than the cap rates of most other major U.S. metropolitan areas, including other Empire State markets like Syracuse and Poughkeepsie that have considerably lower property values.

New York also suffered in Q2 2015 from negative rental price appreciation; New York rents declined by -0.18 percent, on average, during that period (compared to the national average rental price appreciation of 4.98 percent). This rental price decline is, of course, hardly tantalizing to any current or prospective New York rental property owners.

Regardless, New York rental real estate can still be a lucrative investment. The New York vacancy rate in Q2 2015 of 4.50 percent was quite low (33 percent less than the national average), as one would expect to be the case in the Big Apple. New York's modest annual job growth rate of 1.66 percent in Q2 2015 was respectable (albeit approximately 20 percent below the national average during that period), especially for a metropolitan area of its size. Taken together, these statistics indicate that demand for New York housing is unlikely to drop anytime soon.

Q1 2015 New York Rental Market Update

The Q1 2015 Rental Ranking Report found New York to be the third best market in the Northeastern U.S. and 34th-best in the country as a whole. By far the best part about the current state of New York's housing market is its exceedingly low vacancy rate of 3.10 percent, which was second best in the country last quarter and 130 percent lower than the national average. Another was its projected shortage of housing inventory over the coming year of almost 75,000 units, a shortage so great we ranked New York third on our Future Rental Availability Index.

Comparatively speaking, New York lags in a number of other metrics. It experienced modest year-over-year property value appreciation of just 3.46 percent, several percentage points lower than the national average (although nothing to snub at given how sky high property values were to begin with). The median age of its housing inventory is 100 days, an entire month longer than the national average. New York's year-over-year rent variance and rental cap rate are nothing to snub at but are slightly below their respective national averages.

What data is this Rental Ranking Report based on?

To calculate the statistics found in the Q2 2015 Rental Ranking Report, Halby gathered data, including the most recent government housing and jobs data, for 75 metros across the United States. Specifically, we looked at home vacancy, capitalization, home value appreciation and job growth rates, changes in rental prices, and the median number of days properties have been on the market to determine which U.S. metros will give investors the highest returns on rental investments. Click here to learn more about the Rental Ranking metrics.

Should I invest in New York rental property?

Just like New York is known as "The City That Never Sleeps," the New York rental market should be known as "The Rental Market That Never Yields Poor Returns." It's unlikely that investing in New York rental real estate will ever be a bad bet.

Thinking about renting out a property in New York? Save time, avoid hassle and maximize your rental income by having a professional property management company operate your rental property for you. Click here to get a free quote from a local property manager or call 877-780-4510 to have the Halby staff get quotes for you.

Halby specializes in connecting rental property owners with professional property managers in communities across the United States. These property managers help set rental rates, advertise properties, screen and manage tenants, collect rent, manage vendor relationships and ensure compliance with local, state and federal housing regulations. They take the hassle and worry out of managing rental properties - all while maximizing rental property owners' rental incomes.

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