Apartments in New York can be a challenge to find. Most renters find it to be a rat race to the finish line. Typically in the New York area, as soon as you read the rental ad and get to the apartment the good ones can be gone. So it wouldn’t appear to some renters that landlords and real estate agents are pulling a fast one on them because they can’t believe the apartment when that fast. But the truth of the matter is apartments in New York City can be rented in a blink of an eye especially in highly sought after neighborhoods no matter the price. Here are five tips to help you find apartments in New York area.
- Create a Budget
Having a budget to rent an apartment in New York is important. What’s crucial is making sure your budget falls within the marketplace’s rents. Too many times potential renters call me with unrealistic budgets that will not allow them to acquire the apartment they seek. Then when you inform them of this fact they tend to find faults with you instead of facing their unfortunate reality. If you are looking to live in New York it is recommended that you call a few real estate agents to find out what the market rate rent’s are in the area you want to live in. This way you can plan accordingly how you will achieve living in that neighborhood and or type of property.
- Be ready to Compromise
Now that you know what the market rate rents are for the neighborhood and the property type you choose to live, it may be time for you to compromise. If you choose not to compromise your ability to find a place to live may prove to be difficult. I always remind my potential renters that you have to choose your top 2 concerning price, location and quality. When you decide which of these are most important to you it helps you to compromise and finding your new home. The reason compromising is so important is there are only so many possibilities that will fall in your price, location and quality criteria so come to terms with what’s important so you are not under the gun to rush things.
- Time of Year
The time of year that you look for your new home will affect what you find in the marketplace. Moving in the spring you have a lot of competition while moving in the winter not so much. Also shopping in the height of a season inventory disappears quickly and price may not be as competitive.
- Enjoy the Process
Enjoying the rental process is very important because it will help you to make a good decision. The first step to enjoying the process is giving yourself enough time to find what you want. Do keep in mind most landlords seek immediate renters therefore that typically predetermines your search to find your apartment in a 30 day window. Trust me when I tell you 30 days flashes by. There are times that the landlord will show a soon to be available part while they make it market ready which will give you typically 45 days until your actual move-in date. Either way working with a real estate agent is your best option to not go crazy and landing your next apartment in New York. The key is simply to find one that you have good communication with and like since most real estate agents have pull with landlords they do a lot of rentals with.
- Be Prepared
Being prepared to rent an apartment in New York City is an absolute must! What this means is having all of your paperwork ready to go with no excuses. Clear clean copies of your documents get them reviewed quickly. I am always amazed at the poor quality of copies receive to represent you in landing your next apartment. Those documents are quite like a resume but yet potential tenants deliver them like they are headed right for the trash. Remember your landlord is selecting you off of your paper trail and sometimes it may come down to the presentation and not the content if you and another potential tenant are after the same unit.
New York City is unique in the paperwork required to rent an apartment therefore make sure you know what’s on the list. If you don’t have the paperwork supply a letter of explanation as to why just remembered to keep it short into the point and that some landlords will not take your letter of explanation so it is best to have the actual required paperwork.
Finding Apartments in New York City
- Know what you can truly afford.
- Be ready to forego something on your “must have” list.
- Finding a new home in the top of the season may limit your options compared to shopping off season.
- Enjoying the process allows you to make better decisions.
- Having the necessary paperwork ready and in presentable condition will get you in the door faster.