Apartment Hunting Guide in New York City
New York City has a booming economy; it has a large job market across many industries. Yet, according to Quicken Loans and Investopedia, New York is the most expensive city in the United States. This is also the reason why living there is really expensive, and because of this, it is difficult for many to find a place to rent that merely suits their budget.
Even if you’re just a seasoned renter, you still need to be persistent when choosing your apartment to avoid getting locked into an expensive lease. Their market during summer will be more competitive since people who are working at home are coming back to their offices. Therefore, landlords will be increasing their rents, and there will be fewer freebies than before. So if ever you find the best place for you, lock in a long-term lease while the deals are still available.
6 Tips to Remember Before Renting in New York City
1] Determine the difference between advertised rent
You need to know everything regarding what you actually need to pay. Some apartments use discounts just to show renters that they offer a very low rental fee. Be aware that discounts may be used to advertise apartments at a lower rent, i.e., the net effective rent that you would pay if the amount saved from your free month(s) was spread out over the term of your lease.
2] Short-term rental is not bad
Consider short-term rental if you need a temporary place to live. Short-term corporate rental apartments are available at $99 per night, making them ideal for New Yorkers in between apartments of renovating their existing ones. A short-term rental is better than engaging yourself for a long-term lease without even planning how long you will stay.
3] Negotiate the price
Although it may be difficult to negotiate during the spring and summer months, try to find a rent that may be negotiable. If an apartment has been on the market for a longer period of time than usual, maybe there’s a problem, and you can perhaps work on it. Therefore, you can negotiate and get a discount. However, you should always conduct research. According to Zumper, the average rent for a one-bedroom apartment in New York, NY is currently $3,275, representing a 30% decrease from the previous year.
Check that your access to the building’s amenities, as well as any other fees, are included in the lease. Inquire if all of the amenity spaces are open and what safety protocols are in place due to the pandemic.
5] Have ocular day & night
Check for noise during the day, especially if you work from home, as this can be an annoyance. Perform an ocular visit to the area around midnight to see if some nightclubs noises may disturb your peace and relaxation at night. If you haven’t double-checked these items, don’t sign the lease.
6] Use an Online Apartment search sites
But before you go walking for apartment hunting, make a virtual move first. There is plenty of tools that you can use to find the lowest rate possible for a space, as well as a place that matches your lifestyle. Zumper is one of the most reliable apartments search resources you can use to find houses, condos, rooms, and apartments for rent.
Millions of people are using Zumper to find their dream apartment. It is an online apartment search resource that can you go through virtual apartment hunting.
Benefits of Using Online Apartment search sites.
- Rental application can be submitted online
- Book tours
- Online processing of prequalifying for apartment
- Instant alerts on rental listings
- See which lease meet your needs
Why use online apartment online search resources?
Online search resources and listing industries provide more accurate vacancies, as well as better search options. Apartment hunters can access information, save them instantly for reference, and compare which is the best option. So you don’t need to go over the place to place, spend bucks on your gasoline or transportation, just to visit a building that you are not even sure if it’s vacant or it can fit your budget.
- Online rental leases are very accessible and easy to handle
Online leases are as easy as fill-in-the-blank templates reviewed by a lawyer. That means both landlords and tenants can be confident that the lease complies with your state’s laws. In addition, the tenant and landlord can easily customize an online lease to include any additional terms that one or both parties desire.
- Online rental leases help you save time.
Both the landlord and the tenant have instant access to online leases. The tenant can read and review the lease in private, and when they sign it online, it is immediately delivered to the landlord. Both of them can also have a copy of the lease, which can be quickly accessed through phone and laptop.