New-York tribune., 1900-08-19
REALTY CONDITIONS.
CONTINUED DULNEsS OF THE SUMMER
MARKET-THE FREE RENT SYSTEM

The dealings IN last weeks real estate market
were confined principally the sale Of partment
houses and lots The desirable residential sections
were practically neglected. excepting by those de-
string 10 rent and the business sections OF the city
suffered from stagnation- The auction branch
Of the market offered little attract investors
and despite the efforts Of the auctiOneers nothing
transpired there TO break in upon the midsummer
lethargy OF the general market There were evi-
dences of continued activity among the builders
and with the present cheapness Of materials and
the easy rates for money it looks as though some
check the building boom should be administered
in order the projectors from disaster later
on. II is undoubtedly fact that at the present
rapid increase Of building. especially Of the apart
nent house variety their production will be far in
excess of the increase in the population, and to-
day, under favorable conditions for the owner
Of the modern apartment house as have existed for
several years. the landlord is al his wits end TO
keep this class of property well tenanted and at
the same time meet the cut throat competition
OF his neghbors.
No greater benefit TO the hathouse owner could
be conceived than the entire abolition of the ruin
Gus free rent system which has been generally
adopted by the owners or agents Of fathouses all
over the city, means OF attracting ne" ten
ants and at the time keeping their rent
schedule up 70 the desired standard IN the
Twelfth Ward general movement has aIreaoy
been started 10 do away with the free rent custom
and II Is expected that permanent organization
TO accomplish this object will be effected this week
It is be hoped that the movement will extend 70
ell the nathouse districts the city especially on
the West Side where owners Of new apartment
houses are in many cases Offering TWO Or three
months free rent to tenants on a yearly lease
As II frequently happens that the tenants occupy
ing the average modern apartment. renting for
from $40 $50 q month, not responsible, the
owner who IS forced by competition TO give Tree
rent and spend money for repairs IL order 70
secure tenants in many cases finds himself in the
middle OF the winter witk irresponsible tenant
on his hands, and with possibly only one or TWO
months rent in his pocket; or. more ikely, ne mas
Lnan forced spend this n redecoratHg The apart
1,er-. 10 suit the Whius Of his tenant The nbso-
i4fe doing away with this pernictous system would
IL benefit both 10 landlords and 70 honest and re-
sronsfbe tenants. for the latter. either By paying
= hirh rental or IN failing TO secure the liberal
frezfInent they deserve in some way must make
rod the shortcomings Of the families VINO look Tor
Ell The free rent they can get, and never move
ffIl the marshal comes along.
,orcar1Ad as has been said. Il Is exceedingly dull.
-, -t-oTe Real estate in Manhattan is for the
- art in strong hands. is shown by the fact
tts- that little property is being sold brings its
f+,T value: and Furthermore. IN the auction rooms
- 49, are limited 70 foreclosure suits, and the
tiee tlIs offered are invariably bought IN by the
IY'iefnttf the prevailing conditions are entirely