Insider tips for renting an apartment in NYC

It's not a secret that apartment search in NYC, the fabulous city of renters, is anything but easy. Especially for first-time renters. Anyone moving there without a well-paid full-time job can run into numerous difficulties. But, it doesn't mean it's not worth it. Like any other housing market, it's there for you to explore and prepare for in the best possible way. Yes, it can be daunting, but with a little luck, and useful tips for renting an apartment in NYC, you will be ready.

Tips for renting an apartment in NYC

The first and most common mistake people make is that they have unrealistic expectations. Or, at least, they don't know what to expect at all. You see, it's necessary to understand how New York City works. While there are many expensive apartments around, you can still find some more convenient and affordable options. But, you need to learn to do research, react quickly, and adjust. Finding a great deal, and even recognizing a good one, can be arduous. Yet it’s doable. You can find a livable, affordable apartment in New York City if you know how and where to look for it. Here are a couple of useful tips to help you with the search.

Plan your budget

There is no doubt about it, the money is the foundation of many things. In this case, it will be the foundation of a fruitful search. Expect that rent will be your biggest expense so you have to play smart. If you don't have large savings, then downtown Manhattan and Brooklyn are not the best choices. Generally, you will have more luck finding reasonable housing options further from those areas. Maybe the best deals are in the outer ring that still have decent transportation options.

Of course, like with many things in NYC, there is a catch. Many landlords will rent their place only if you earn about 40 times the monthly rent, as a sort of insurance. So, you should be ready for that if you expect to move hassle-free to the chosen NYC apartment.

What if you don't earn that much?

If you don't have earnings large enough to cover that "40 times the rent" requirement, you should consider using a guarantor. It can be anyone willing to guarantee that monthly rent will be paid. In case you can't pay your rent, they will have to cover your costs. So it places them in a delicate situation.

Again, there is a catch here as well, your guarantor needs to earn about 80 times the monthly rent. Carefully consider this option only if you have a really great and affordable opportunity, but not great credit score.

There is still hope if you have realistic expectations

Maybe most dilemmas can be solved if you correct your expectations and priorities. Stay firmly on the ground and don't rush into any risky situations. There are many more affordable places if you are willing to stay away from trendy and luxurious neighborhoods. Unfortunately, you will hear many unpleasant stories from other people's experiences. Some of them are true, or at least close to the truth. The point is, no one is forcing you to pay enormous rents, it's your choice. If looking for a smaller and cheaper place and, let's say, you are willing to commute 20 minutes longer, you will find much better deals.

Cap: Longer commutes for better options can be worth it.

Alt: Train option in NYC.

Prepare well in advance

Without proper preparation, you won't do much. That's why it's important to pay attention to a couple of things before signing a deal:

• Check the apartment's address online. Google the address and check any information about the neighborhood in advance. Unfortunately, scams are all present, even in the housing market.
• Have your documentation ready. Get it ready and take with you in case you find an extraordinary offer. Also, prepare enough money so you can sign the lease right away.
• Don't hesitate to ask questions. No matter how unpleasant the questions might be, you should ask them. After all, if you are going to live there, you should know everything, from info about pests to special conditions that are not so obvious.
• Know your rights. Be informed about your rights as a tenant. Usually, you can do it either online or ask someone.
• Check the neighborhoods online, and in-person. It's one thing to check the apartment, but completely other to check the environment as well. Normally, you should find all the information online. Then take a walk through the neighborhood, even at night, and pay attention to people, noise, traffic, amenities, and similar things.

Consider living with roommates

Everyone starting their career in NYC should consider living with roommates. As a young professional, you will be able to afford better apartments if you are willing to share expenses. Renting an apartment in NYC means there is plenty of competition, but it also means plenty of potential roommates. In fact, many first-time renters find this option to be crucial in the beginning. Just be careful with who you place your trust with, to avoid any unpleasant situations.

Cap: Everything is easier with people that share the same interests.

Alt: Two roommates playing instruments.

Go through the broker or not?

With money ready upfront and a good broker, your search will definitely be much easier. Actually, there are listings that are almost impossible to come by without help from brokers. However, their fees are about 15 percent of a year's rent. So, make sure it's a worthy initial option.

Be ready to compromise

Undoubtedly, you will need to compromise in NYC while looking for an apartment. In fact, there is a small chance you will be able to find your "ideal" apartment on the first try. But, if you look at it as long-term research and investment, you will have more realistic expectations. Generally speaking, you won't be needing a pool or a gym, or any other luxury amenities at the start. You should concentrate on affordability and bare necessities. After all, you probably won't be spending much time in your apartment, besides resting. Living and working in NYC is a full-time commitment.

Cap: Do you need to be so close to the center?

Alt: Many stores in NYC streets.

How much effort is required to get more space at an affordable price in NYC? Usually, a lot. But, with the help of the tips for renting an apartment in NYC, it will definitely be much easier. On the bright side, the apartment search is a great opportunity to learn more about the city. You get to see first-hand how people manage and live around.

Meta: Insider tips for renting an apartment in NYC can help you prepare for everything that awaits you in the city that never sleeps.

Pictures:

https://pixabay.com/photos/usa-manhattan-contrasts-new-york-1777986/

https://pixabay.com/photos/times-square-nyc-city-new-square-2835995/

https://pixabay.com/photos/new-york-subway-train-1-train-2727622/

https://pixabay.com/photos/people-men-guys-group-band-2569457/