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RentHop fingers ‘convenience premium’ on NYC rentals

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Rental listing service RentHop has released a report that attempts to gauge the premiums renters in Manhattan pay for certain conveniences.One of the main findings of the analysis is that renters tend to pay higher "convenience premiums" for two-bedroom apartments than for single-bedroom or studio apartments, suggesting that two-bedroom renters who forgo certain conveniences may enjoy substantial savings. RentHop said the steep discount is a result of the challenge of assembling a group of roommates who are all willing to deprive themselves of conveniences."It turns out that satisfying a group of three or four people is significantly harder than compromising with a single room mate," the report said. "Some people might absolutely need laundry in the building. Other people could care less. Because of these disagreements, many of the more 'inconvenient' apartments don't receive as much exposure or demand."The study calculated premiums of three apartment-bu...