Hive NY Aims to Make Rental Property Living Easier for New Yorkers

Finding an apartment is a challenge many people are facing, especially with a lack of available space in many big cities. According to Bloomberg, the vacancy rate for NYC rental units in July 2022 was around just 2 percent. Hive NY, a company based in New York City has a goal to help tenants find a place with ease whether they are relocating or already living in the city.

“I wanted to make living in New York easier and build a sense of community with diverse backgrounds where individuals could connect, grow, have fun and make an impact”.

Bloomberg also states that the median rent in New York City is just over $4,000. The cost of moving can also be expensive. One advantage with HIVE NY is that the units being rented out are fully furnished and move in ready for both short and long-term leases so tenants don’t have to pay to move furniture. Hive also helps renters save by not charging broker fees. According to Property Club, a broker fee for an NYC apartment can be anywhere from the equivalent to one month’s worth of rent or 15% of the annual rent.

Additionally, the last two years have taught people that flexibility is important which is something that Hive recognizes. Using Hive, renters are able to find units that are available for month to month leases. Another important thing for many people who are moving, especially to a new place is community and the ability to meet other people. Hive also offers social gatherings and networking events for the tenants to expand their social circle.

Overall, the goal of Hive is to make the moving process stress free for renters by providing fully furnished units, flexible lease terms, not charging brokerage fees, and offering a sense of community.  This allows property managers and owners to leverage a disruptive model that capitalizes on demand by placing highly qualified tenants while also reducing costs and management time.  

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