As New Yorkers, we're used to regular reports of terrible landlords in NYC, but what about the good ones?
If there's a good landlord, we want to know about it because that is often a rare thing. Openigloo, a Brooklyn-based app that lets renters anonymously rate their landlords, has identified the city’s highest-performing residential portfolios by looking through its data.
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It analyzed 80 residential portfolios with at least 500 units that qualified withratings, recommendation rates and city violationsin the 90th percentile. What they found are five landlords who have an average building rating of at least 4.1 out of 5 (the city-wide average rating is 3.2) and with 80 percent or more of residents who would recommend their buildings to a friend (the city-wide average is 40 percent). Lastly, the following portfolios all have violation per unit ratios of less than 0.007 (the city-wide average is 0.7).
Below are the top five landlords in NYC, according to openigloo:
5. Rudin Management
Rudin Management owns 17 residential units spanning over 2,000 apartments. Rudin renters are happy with the friendliness of the building staff and spacious apartments. Areas for improvement? A smoother lease renewal process.
4. Columbia University
Columbia University is the largest landowner in New York City by the number of addresses and manages over 5,000 apartments across 150 residential buildings. While made up of mostly students, renters are overwhelmingly happy with the buildings’ affordability and the attentiveness of management.
3. Glenwood Management
Glenwood is the developer, owner and manager of 27 multi-family properties in Manhattan covering more than 8,000 units. One of their addresses, 500 East 85th Street boasts high ratings and tenants are happy with how responsive management is. Complaints? There are long wait times to use the building's shared laundry room.
2. TF Cornerstone
TF Cornerstone owns and manages 18 residential buildings spanning more than 7,500 apartments in Manhattan, Brooklyn & Queens. One of the highest-rated buildings on Openigloo is one of their buildings in the Financial District—2 Gold Street. The 650-unit building boasts a recommendation rate of 100 percent and tenants appreciate the friendly building staff. An area for improvement? The leasing office can be difficult to get a hold of sometimes.
1. Ogden Cap Properties
Ogden owns and manages five residential properties with a total of 3,416 units in Manhattan. One of their addresses, 225 East 95th Street boasts high ratings and tenants are happy with the building’s amenities despite having to pay extra to use them, according to a tenant review.
If you want to discover more highly-rated landlords and buildings, you can get openigloo on your phone andsearch for specific apartment buildings and read reviews left by tenants about the condition of the building and a one- to five-star rating of the neighbors, the owner responsiveness, heat, cleanliness, noise levels, pest control, garbage management and water pressure. The landlord's name is usually included on buildings' pages as well as written tenant reviews and whether there are any COVID-19 measures.
Essentially real-time city data about buildings, open violation data, bed bug complaints, and eviction history is all at your fingertips. And of course, you can also anonymously submit your own reviews of a building you live at or have lived at.
Allia Mohamed and Srujan Routhu created openigloo with the goal of saving New Yorkers from untenable living situations after going through some of their own. That being said, this isn't a place to rant about your landlord. It's meant to provide a place to provide helpful criticism and transparency.
What do you think about their list of the top five landlords? Do they deserve to make the cut?
I'm an avid follower of the real estate and property management landscape, particularly in major metropolitan areas like New York City. My familiarity with the dynamics of the real estate market, landlord-tenant relationships, and related technology-driven solutions allows me to provide valuable insights into the article about Openigloo's identification of the top five landlords in NYC.
Firstly, the use of an app like Openigloo to allow renters to anonymously rate their landlords is a novel approach to bringing transparency and accountability to the rental market. It aligns with the growing trend of leveraging technology to empower tenants and make informed decisions about their living situations.
The criteria used by Openigloo to determine the top landlords—building ratings, recommendation rates, and city violations in the 90th percentile—are well-thought-out indicators of a landlord's performance. These metrics provide a comprehensive view of the overall tenant satisfaction, as well as the adherence to legal and safety standards.
Let's delve into the top five landlords identified by Openigloo:
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Ogden Cap Properties:
- Manages five residential properties with 3,416 units in Manhattan.
- High ratings, with tenant satisfaction regarding amenities, despite additional fees.
- Tenant reviews highlight positive aspects, contributing to a favorable overall rating.
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TF Cornerstone:
- Owns and manages 18 residential buildings with 7,500 apartments in Manhattan, Brooklyn & Queens.
- Noteworthy for a 100% recommendation rate at the Financial District's 2 Gold Street building.
- Tenant appreciation for friendly building staff, though challenges with leasing office accessibility.
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Glenwood Management:
- Developer, owner, and manager of 27 multi-family properties in Manhattan with over 8,000 units.
- High ratings, particularly at 500 East 85th Street, with positive comments on management responsiveness.
- Tenant complaints about long wait times for the building's shared laundry room.
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Columbia University:
- Largest landowner in NYC, managing over 5,000 apartments across 150 residential buildings.
- Majority student residents with positive feedback on affordability and management attentiveness.
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Rudin Management:
- Owns 17 residential units with over 2,000 apartments.
- Tenant satisfaction with building staff friendliness and spacious apartments.
- Identified area for improvement in the lease renewal process.
This information provides a comprehensive overview of each landlord's portfolio, strengths, and areas for improvement, enabling prospective tenants to make informed decisions based on their preferences and priorities.
Openigloo's emphasis on specific criteria, such as building conditions, neighbor relations, owner responsiveness, and COVID-19 measures, reflects a commitment to offering a nuanced and detailed evaluation of the living experience. It serves as a valuable resource for those seeking transparency in the often challenging New York City rental market.
In conclusion, Openigloo's list of the top five landlords appears to be well-founded, considering the thorough analysis of key performance indicators and the app's commitment to providing a platform for constructive and transparent feedback rather than mere landlord criticism. This initiative contributes positively to the rental ecosystem, fostering better-informed decisions and ultimately improving the overall quality of living for New Yorkers.
