How Much Rent Can You Afford
Did you know the NYC housing laws focus on protecting the tenant? This is great news for tenants, but it is also why landlords charge a big deposit and large monthly rents. Be sure to factor in the total cost of monthly rents and other monthly expenses. Then compare it with your budget so you can choose an apartment that doesn’t break the bank. You’ll also need to add in the most common various fees and upfront costs associated with renting in NYC. To top things off, if your annual income isn’t 40 times the monthly rent, you’ll need to get a guarantor. This is why so many people choose to get a roommate. Review our financial tips and advice for first time renters to help you get that New York apartment.
Selecting an Agent to Find an Apartment
The best way to find apartments in NYC is through an agent. You’ll get so many benefits by working with an agent. Platinum Properties will help you through the rental process from start to finish. Our real estate agents will find apartments in your price range that best meet your criteria. We will assemble your documents for landlord approval and negotiate incentives and concessions. These perks can help offset your costs and may include free rent, gift cards, or other incentives. Our realtors know which buildings offer perks and the best situations to get them.
Best Time to Look for an Apartment
The busiest time is between the spring and summer months. This is when the weather is nice and college graduates are moving. During the winter season, you’ll have less competition to deal with and less inventory to choose from. The winter months usually have more deals. Find out when the best time to look for an apartment in NYC is for you.
Choosing a Neighborhood
Each neighborhood in NYC is very unique and has its own personality. It’s important to do your homework and select the neighborhood that best fits your needs. To start, you may want to check out the hottest neighborhoods for rentals in NYC. Platinum Properties knows the ins and outs of each neighborhood. Our real estate agents can answer any questions you may have. Still, nothing compares to experiencing a neighborhood in person. If you can, try to arrange a visit and walk through the neighborhoods that interest you. To get a feel for what it’s like to live in the neighborhood for a month or two, a short term rental is a great option to consider.