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Sustainability and Renters

 

Story One: Sustainability 
Green design, how sustainability in development/people’s lives have changed?  Also, what technologies are helping with sustainability? PropTech technologies could have a play in here but it needs to be residential-geared.  
 
Story Two: Renters 
What’s different this year with renting in New York City than before? What should people be changing attention to? I’m sure this will touch upon buy vs. sell.
 
 
Story One: Sustainability Green design, how sustainability in development/people’s lives have changed? Also, what technologies are helping with sustainability? PropTech technologies could have a play in here but it needs to be residential-geared.
 
Martin: This is an interesting topic since the guest speaker at our event on Tuesday talked about sustainable and impact investing. LEED certified buildings are becoming more commonplace. As such, hallways, lobbies and common spaces are made with green renewable resources such as terrazzo and bamboo. Windows and lighting are significantly more energy efficient and (where applicable) solar power helps cut energy usage. Materials also have to be formaldehyde free as well as the fresh air exchange at a high level. People living in these buildings truly have healthier lives. Often people think of "inconvenience to their routine" when they hear of "energy efficiency". This association is no longer valid. Even the "light flush" on the toilet works as intended.
 
 
Story Two: Renters 
What’s different this year with renting in New York City than before? What should people be changing attention to? I’m sure this will touch upon buy vs. sell.
 
Martin:  The last three years have seen a dramatic change in renting as a tremendous new supply comes to the market. "No Fee" and "free months rent" are now standard in the marketplace. This has also spilled over to individual condos and coops.  The owner is no expected to pay at least the fee of the listing broker (and maybe the broker who brings the renter).  Very good deals can be found on apartments that are not brand new and somewhat off the beaten path.  Interestingly, the over-supply of rental markets has slowed down the studio and 1-bedroom sale market.   For many renters, it is cheaper to rent than to own (before tax deductions).
 
 
 

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