By: Betty White
Featured image.
Alt.tag: A sofa and an armchair in a living room.
Apartment hunting in New York City can cause a serious headache. It poses numerous challenges to future renters, as finding a place that suits your needs, matches your lifestyle, and fits your budget is far from easy in a place like The Big Apple. Without competent professionals who are always there to give you support and a wealth of useful information, finding a place that covers all or a great majority of your requirements would be impossible. Hence, Imma Giocoli, Broker Owner of Tyler Vincent Real Estate Inc. is always willing to help people facing these problems through a free consultation, and help them end the process to their satisfaction. Today, we will tackle all the potential problems and give some advice on apartment hunting in New York City.
Where to start?
Among all other crucial factors that greatly influence your final decision, finances are the starting point. It is vital to know how high a rent you can afford to pay every month. To be able to get the apartment you want, you need to prove you earn a qualifying rental income, which most often equals at least 40 times the monthly rent. In other words, if your monthly rent is $1,000, you need to prove you earn at least $40,000 a year to qualify for the apartment in question. Renting in NYC can be a substantial financial burden, so make sure you do not make any hasty or irrational decisions which will cause you more problems down the line.
Know your financial situation before you start searching for an NYC apartment.
Alt.tag: A calculator and a pen.
Choose a neighborhood
You have probably heard so many times that New York City is a huge concrete jungle which, however, has something to offer to everybody. Finding what suits you is best achieved if you, firstly, have a licensed, reliable, and experienced professional by your side and, secondly, if you start exploring the NYC neighborhoods in person. A consultation with your agent will reveal very quickly which neighborhoods you can eliminate because they are, for example, too expensive, unsafe, offer no outdoor activities, and so on. Local professionals have sound knowledge on this matter, so they can help with the elimination process.
Then, you need a day, or better a few days if you can afford it, to visit various neighborhoods with your agent. Observe them in detail and analyze what they have to offer. Pay attention to the quality of constructions, transportation available, the number of stores, educational and leisure facilities, surrounding neighborhoods, and all other parameters you are interested in to get the quality of life you desire. This is the most effective strategy that will help you to finally choose where you are going to live.
Set the criteria for finding the perfect NYC neighborhood for you.
Alt.tag: A street in Manhattan.
Once you choose the area…
…start visiting rental properties with your agent. Currently, people all around the world are fighting the coronavirus pandemic fiercely, so do not forget to think about your own safety, and the safety of people around you. Adhere to the rules of social distancing and wear all the protective equipment while apartment hunting in New York City.
Visiting all the potential new homes is necessary for several reasons. Firstly, you need to make sure you are really getting what you have been promised and what you are paying for. Secondly, a conversation with other neighbors in the building might provide you with some vital information that will influence your final decision. Finally, you can inspect the neighborhood in question more thoroughly to check whether it indeed offers what you are expecting.
Putting in an application
Before Capital City Movers NYC finally transport your possessions to a new home, there are a few more obstacles you need to overcome. The competition among renters in NYC is severe and you will need a lot of luck to get the apartment you like so much. Generally, landlords run a detailed background check of their potential renters prior to deciding who they want to rent their apartment to.
The check involves literally everything, from your bank statement and credit score to the current landlord reference letter and criminal record. Thus, the best you can do is be transparent and hide no information that might be a dealbreaker later on. Losing the trust of your potential landlords equals losing the apartment you want.
The list of documents you need to apply for an apartment in NYC usually includes:
- A photo ID
- Evidence of your employment printed on company letterhead, together with the information on your salary and the entry date. If you are a student, you need a letter of acceptance.
- A bank statement regarding the last three months.
- The current landlord reference letter.
- Ideally, you should have other reference letters from your colleagues, friends, relatives, current neighbors, and similar.
- A document on your 2 years’ tax returns.
These documents are all meant to protect the landlord and avoid going to the landlord-tenant court should any problems arise. If you have any difficulties while obtaining these financial documents, naming a guarantor is the solution you need. A guarantor is a person who accepts to pay your rent in case you go through some financial problems. This is usually a parent or a very close friend. Also, there are guarantor companies as well, but one can never be too cautious with these.
Prepare the necessary documents for putting in an application.
Alt.tag: A woman making notes in a notebook.
Know your tenant rights and responsibilities
The latest Tenant Protection Act clearly defines the tenants’ and landlords’ rights and responsibilities, so study it well enough to clear away any doubts concerning this matter. As the name suggests, this act is much more tenant than landlord-friendly, so your interests will be protected if your apartment hunting in New York City ends successfully and you eventually find and lease a place that meets all the criteria you have set. Familiarize with the Tenant Protection Act on time, behave responsibly, and enjoy your new NYC home.
Photos used
https://pixabay.com/photos/living-room-chair-sofa-couch-home-2155376/
https://pixabay.com/photos/accountant-accounting-adviser-1238598/
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