Sunday, November 23, 2008

If it wasn't for bad luck I'd have no luck at all

My bad luck string with apartments continues. On Friday the no-fee broker (I) called to let me know that my offer had been approved for the Astor After being burned by Tribeca I have learned that doesn't mean much, so I wasn't surprised when the broker called today to let me know that the management company changed their mind and is now requiring a guarantor. It's kind of bullshit and I'm mad that I keep getting told I'm approved only to find that there are more asterisks than a baseball line score during the steroids era.

The reasons why I'm balking at a guarantor are: 1 -- I am more than likely going to make 40 times the rent I need for this place (I've started freelancing again for some extra cash and though it's iffy I'm sure I'll have no problem clearing $10,000 in freelance work for the year); 2 -- they freakin' told me I was approved! Seriously management companies. Your apartments are sitting vacant for weeks on end for a reason. I know you usually require 40 times the rent but that was during the boom times and guess what? The boom went ka-boom. Now we're crashing back to earth and your rents are going to have to come down if you insist on keeping these ridiculous rent requirements. Building value be damned. Take us as we are or let your apartments drive you broke! It makes no sense to me; buildings would rather take no rental income and uphold these draconian requirements than get rental income a bit under market.

I'm balking at the guarantor clause because of the shaky economy. I don't mind chancing ruining my own credit if I was unlucky enough to lose my job but there is no way I'm taking my sister down with me. That just ain't fair. Just this week two of my friends were laid off and I admit it shook me up a little bit. I wonder if this is a message from a higher power -- don't waste all your income on rent. I really want to move but the cards just don't seem to be aligned for this. Broker I told me he'd talk to the management company and see what they could do. I'm not holding my breath. At least I've already gone through this once so I'm not too upset. I just hope non-Super will let me stay in my current place.

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