Is living in New York something you’ve always dreamed about? Well you’ve just joined a group of millions of other people with the same desire. But what is that which draws so many people to find their spot in this city and have a new beginning? The answer is both simple and not because each person is attracted by something different. And while it has so many things to offer, those who are planning to move here need to be aware of the fact that life in The City costs a lot. And as renting in NYC can be pretty much stressful, we’ve decided to give you a couple of tips to help you out.
Be prepared for a thorough search
Renting a property is not just choosing a house or apartment based on their inner or outer appearance. It is so much more than that. When you are deciding where you are going to live, you need to look the situation from many different angles. Seeing all aspects of your moving in, especially if you are coming to NY from another town will really help you have a better perspective. You see, New York is nothing like the cities you’ve even been to. It has a unique personality, and rules are different here. So, if you’re used to the small-city vibe, you may need a little more time to get used to the circumstances around here. And that also applies to the search of an appropriate housing in NYC.
Know what you are paying for
Let’s imagine that you’ve found an apartment you wish to move to. The next step is defining what is meant by your monthly rent. What exactly does it cover and if there will be any additional fees? These are questions you will have to talk through with the landlord directly.
Quick tip: Do not sign any papers until all the items on it are sufficiently well explained. This is also one of the most important rules in case you wish to buy an apartment in NYC.
Some landlords require from their tenants to pay for gas and electricity, whereas heat and water bills are included in their monthly rent. However, these things depend from a landlord to a landlord. This is why it is very important to make this clear with them before you sign the contract.
Questions about the lease
Another important aspect of renting in NYC is the question about the lease terms. Usually, landlords will offer you one or two years of lease. Which option will suit you better will depend on the conditions the landlord offers? The biggest advantage of a two-year lease is that the rent will stay the same for both years. Or, the rent will be increased by the end of the year and that is something that has already been predetermined and pre disclosed.
All in all, you need to be familiar with the situation because only that way will you be able to decide which way to go.
Being a good tenant is of great importance
One-year lease is valid only for a year time. After that you will have to wait for the landlord’s decision about your future status, whether you’ll remain to be a tenant or will you need to start looking for a new apartment.
For many, a two-year lease is a better option when they are sure they want to stay in some place for a longer time. But for that to happen, you will need to fulfill one of the most important requests and that is that were a great tenant. The one no one complained at, and who never caused any kind of trouble but was always on time with paying the rent and obeying the rules.
Figure 3It is important to be an exemplary tenant Altag: Good feedback
Does your budget support the rent?
When you start looking for a property, that is when you need to be absolutely informed about your credit score and the budget limit. Statistics show that there are a lot of people who fail to understand that one of the deciding factors for getting the approval is to know their credit score. What is more, this information could be simply obtained if you just pay a visit to your bank. It will take you just a little to get every information you need. With that, you can apply. Some landlords will require at least 40 times the rent of your monthly income. But as this is something that vary from landlord to landlord it will need to be further investigated.
On the other hand, it is well-known fact that rents in New York are much higher than in the most other major cities in the US. However, this should not discourage you from looking for an apartment/house to rent. For instance, moving in the Brooklyn area usually turns out to be the most convenient option when all parameters are included. So, why wouldn’t you take a look at this borough and get more for your money?
What if you have a pet?
This turned out to be a big issue with many people who are renting in NYC for the first time. However, the answer to this question is simple. If you want to rent an apartment for longer time, you will have to tell your potential landlord about it. You cannot hide the pet hoping it will go unnoticed. What you can do is to offer pet security deposit. Also, offer the Rider which will cover some damages made by a pet such as tearing or chewed. Also, be aware that the pet gets the residency in NYC after thirty days.
No matter how long you will be renting in NYC, it is truly important to be completely honest with the landlord as mutual respect is more than necessary. Every issue can be solved and every question can be answered, but for the good start make sure that you show respect.
AskImma Giocoli Broker – Owner of Tyler Vincent Real Estate Inc. She WILL get you moving !
By: Betty White
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