The president of Better Living Properties in New York City, Ariel Soudry has more than 25 years of expertise in the real estate business. At the firm, Ariel Soudry helps prospective New York tenants look for rental houses and apartments at the best deals, saving them from the arduous process of searching.
According to the Rocket Mortgage website, New York is one of the most expensive places in the United States. Being the largest metropolitan area in the United States and the 4th largest in the world, New York presents many opportunities for residents in terms of business, culture, and entertainment. Consequently, with more people wanting to live in the city, rental prices are constantly rising.
The many infrastructures and amenities in New York are other factors that contribute to the city's high rental prices. According to the Real Estate US news, over 1,700 parks, recreational facilities, and playgrounds exist in this state. Moreover, the multiple world-class museums, legendary theaters, and nightlife experience attract many potential tenants and house buyers to this city.
The skyrocketing inflation and high mortgage also contribute to New York rental hikes because landlords raise rents to keep up with the cost of living. Also, as the demand for rental units increases (due to prospective buyers being unable to buy homes and renting instead), some landlords hike rents to maximize profits.
