New-York tribune., 1886-04-26
PRICE THREE CENTS
"MOVING DAY"TO BE QUIET.
LOWER RENTS MADE TO KEEP TENANTS

GENERAL COMPLAINT OF DULL SEASON IN DWELL
ING PROPERTY-wHAT BROKERS SAY.
The renting season, so far a. dwelling property IL
concerned, has been slower than ii promised ia
be at the time The TRIBUNE presented tie results OF
its inquiries, few weeks ago. With few exceptions
the brokers complain greatly of the duness of business
and nearly all agree In the opinion Il at values have
shrunk decidedly All classes Of property for living
purposes have felt the decue which ranges anywhere
from 10 to % per cent The best bargains have been
driven BY those who were in haste to renew their
leases but there is danger that the leaving OF renting
to the close of the may result in an active in
quiry all at The consequence would be that the
landlord might feel disposed sen bis prices SONG
what Where rents have not been reduced, other con-
cessons have been made to tenants in Il OF large
repairs. Although most dealers say that as rule
DIV eing property in New-York City In better con-
dton than it was few years ago and needs less i'm
provement Landlords have been unusually generous in
accedng the requests Of househodcrs rather than
lose them at this time.
The decline in rents this spring and the stagnation
of the trades will necessitate fewer removals than
lal While the number of untenanted houses will
be large this summer the disposition of owners TO deal
fairly with their tenants has resulted in numerous re-
newals of leases at advantage to the latter. Too
much stress can easily be put this condition OF
affairs However. as respects its influence the ou-
tumn renting 1t results largely from the fact
that the renting customs in Newfork are LARGELY
changing from what they several years ago.
Each year fewer leases made in Al ri aud May
and more made in September and October. Said the
agent who Las charge OF the renting department Of
Morris b. Baer & Co. on Saturday
awe cannot complain about business, but the sea-
son as a whole has been extremely dull. Prices are
lower in the majority OF The fact is people arc
In tba NJ in
that if they want to 90 early to the country In tho
summer for any reason other. they can give their
houses up in the spring. In many 1t is an econ
omy TO move out of town a month or so earlier than
necessary in order TO the rent OF an unoccupied
house through the summer This naturally throws
good many houses the market in the spring and
the supply temporarily exceeds the demand. Rather
than lose all the through the hot months land
lord will make material concession TO tenants For
instance have a house that can get -, 800 for in
the fall. but if necessary, to get it rented now Will
take at the rate of 81 200 S2 600 year for
it. On the contrary in the fall the demand is large
and good and then the owner can get rentals Learer
to his idea of what they should be. Anotber thing
been the clustering of bills houses his has been
done unusual extent The result Is that in many
cases ii the bill comes down III day or Two or
If the landlord gets the be asked many persons
out looking for hOuses have seen the bill and they get
mpre ssion that there are many more houses oner-
gets the same impression and the influence OF the two
things is bearish the rental market. don be-
lieye there will be so much pastins next season;
j. Ronaine Brown. a prominent uptown oroher,
estimated The falling of in rents this spring to oe fuy
10 per cent. This was caused ny The nhneacs nee
meniioued at Baer g. Co.'S othce-the change III tho
season-and by the excessive building operations that
had been carried The activity had been 80 great
that the market was threatened with slut. no
strikes and labor agitatons in the building trade,
Mr. Brown said, "will work good III one resptct.
T,i,v will check speculative building and give tho
market n rest in which the demand VIII lave an op-
portuniy to grow up 10 the supply. WIN the presehs
uno certainty as what the rate Of wages Is to 0e cap
italists will advance the money necessary to carry
on so active operations. There is now no surety that
when man starts with the idea O. putting ToVooo IN
house changes in wages etc, enforced by the isDor
unions may not make his undertaking cost him
| $4,000"
MANY d. aers notice special fea ure OF the sea-
son the diL of people TO the suburban DISTRICTS lilgh
driving them far away from old centres
as they can get. consistent with reasonably quick
transit their places OF business There seems 10 DO
reaction from the movement to the Vest Side and
many families tending to the East Side. uptown.
Unless there should be decided change in this regard
brokers look tor reduction n the biz rents that
houses and flats west of Central Iark have comm ID
ed for I'll. last few Years. OF course high priced
dwellings feel the los- IN rentals this more than
small houses Customers nearly entirely llcklng
for houses renting at - 800 year aud over Du6
there IL n good steady inquiry for rentals OF slooO
and less. let even great ne is the demand Tor smai
houses ouly reasonable figures can be obtained ny
landlords. Between Fourteenth aud Thirty l0urth
sts prices have possessed the most stability TINS sea-
son. Above THIS district AMI running up to Ten.
ra Pa the rents have elt the most serious loss, anu
ment houses continue to suffer severely from me re.
strant which the condition of business
has imposed many persons VINO IN ISSUE Weio
floating on the crest OF the boo i'
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