RENT OWN SELL
Newyork
RENT OWN SELL
Newyork
It is quite possible to find a liveable and affordable apartment in NYC. Getting an NYC apartment rental is highly competitive as the city is full of people looking for a place they can call home. So you will have to start looking for an apartment earlier than when you plan to move in.
NYC is a big rental market. Just as you want to find the right apartment, someone out there is eager to find the right tenant–it’s just a matter of finding a suitable match. Since you’re interested in knowing how to pick an apartment, here is a step-by-step guide.
The first thing that you have to take care of is your budget. This is important because rent will consume a significant portion of your income, and you need to find the right balance to fulfill other needs.
The rule of thumb for rent is it should not exceed more than 30% of your monthly income. Let’s say you are earning $12,000. Your monthly rent payment should be $3,600 or less. If you spend more than 30% of your income on rent, you will be considered rent-burdened, and many landlords don’t appreciate such tenants in NYC.
Besides, setting your budget will determine many other things for you, like which borough to focus on and how much the apartment rent will be since rental prices in Manhattan are higher than those in outer boroughs.
Pro Tip: The further you live from Manhattan and Brooklyn, the more affordable and reasonable housing options will be. The best thing about NYC is its network of buses, taxis, and subways, so you don’t have to worry about getting around.
Next, you should decide whether you want to live in the hustle and bustle of the city or in a more quiet place. How important is it to you to be close to a park? How far are you willing to drive for your daily commute?
These are the questions you need to ask yourself to help find the right apartment in NYC. Having said all that, no location is perfect. Regardless of where you live, you will still be making trade-offs. You have to decide the things you can and cannot compromise on.
Once you find the area where you want to live, you are ready to hit the market. There are several websites and real estate apps where you can find your dream home. You can search for your next apartment from the comfort of your current home.
They show the latest property listings available in the surrounding area. You can narrow down your search by the selected borough. Explore multiple websites since no website is going to have all the available listings.
Another option is hiring a real estate broker. It is even better because an algorithm cannot beat human experience and interaction. A realtor can better guide you on what you can get within your budget and where you can find them. NY Rent Own Sell is one of the leading real estate firms in NYC where you can find any property.
Visit each property that interests you. This is crucial since this will be the only way you’ll know if the apartment lives up to what is promised in the listing. You can also see whether the property is well-maintained or if the apartment has operational issues.
You’ve found the apartment you like, and now want to submit a rental application. For that, you should have all the documents ready so landlords know that you are serious about getting the apartment. New Yorkers know a good apartment is hard to find, so it’s best to act as soon as possible to secure the apartment. Make sure you have the following documents handy to help expedite the application process:
A landlord will review your rental application and supporting documents. Property managers will go the extra step and will run a background check. It is purely the landlord’s prerogative as to whether or not they approve your rental application, but if your application is approved the next step will be signing the rental agreement.
Read Also: Signing A Lease – What You Need To Know
The agreement will define rent amount and due dates, rental terms, and all other lease terms that the tenant will need to abide by.
Apartment hunters are subject to scams, so it’s important to recognize red flags when you see them during your apartment search. Here are some tips to avoid scams:
Choosing an apartment is like a love affair you have to be curious about every aspect of it Remain vigilant during your search so that you land the right apartment.
