Searching well in advance of your actual move-in date may seem desirable, but the New York real estate market is unique in its pace. Be prepared to discover that vacancies do not make themselves known until approximately thirty days before move-in. It will be difficult to view an available apartment before this. Any apartment you find well in advance of your desired move-in date will likely not be vacant when you are ready to move. A two to four week period is usually sufficient for an apartment search in New York City.
That being said, you can use the time leading up to your actual search to review online listings, look at neighborhoods, and review market data so that you are prepared and confident when you begin your housing search in earnest.
The most crucial component of apartment hunting in New York City is going into the rental market prepared. Whether you are looking for sublets, apartment rentals, or roommates, there are a variety of factors that you need to consider first. Check out our Glossary page for more information on commonly used terms in the NYC rental market.
Manage your expectations. The newer the apartment, the appliances, the facilities and conveneiences - like proximity to a subway or even NYU, means a higher price. Elevators and a doorman add to the price as well. Be open to the possibility of having to live in Brookly, Queens or even New Jersey to get a better price and more space. Know your wants from your must haves -- more than one bathroom or bedroom, quiet neighborhood, closet space, safety of the neighborhood, building amentieis. Basically, go into your search knowing what you can live with and what you can't live without!
As you begin your search, make sure to include these questions to your own:
Landlords generally approve applicants based on the strength and/or balance of an individual's income, credit, assets, and guarantor. The following are commonly required information and details that will help you prepare for completing an application for an apartment:
*A note for international students: Landlords may ask for three or more months' deposit on an apartment if you do not have a guarantor who is employed in the United States.
Tenants' Rights information, advocacy organizations for tenants, legal aid, and a "Worst Landlord Watchlist".
A very common way to find an apartment in New York City is through a real estate broker. New York State licenses real estate brokers and salespersons. Brokers charge a commission for their services which is usually a stated percentage of the first year’s rent. The amount of the commission is not set by law and should be negotiated between the parties. The broker must assist the client in finding and obtaining an apartment before a commission may be charged. The fee should not be paid until the client is offered a lease signed by the landlord. The broker may also charge the client a reasonable amount to conduct a credit check. Under the Rent Stabilization Code, a broker’s commission may be considered “rent” in excess of legal rent when there is too close of a business or financial connection between the broker and the landlord.
The links below will help you in your search for a broker. Note that NYU is not affiliated with any of those listed below. Citihabitats is listed because they offer a discount to the NYU Community.
The resources below are not affiliated with NYU, however they are provided here as they have indicated an interest in working with college students in their search for accommodations.
Citi Habitats offers NYU students a discount in the broker fee. For more information, please complete the Client Information Form and someone from Citi Habitats will reach out to you. Click here.
This broker specializes in apartment rentals for college students who want to live in Manhattan. Contact Lucas Chu from the Corcoran Group.
T: 631-901-8907 | Lchu@corcoran.com | NYCollegeRentals.com
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