If you are someone who has started apartment hunting in Manhattan recently, you will know for sure how high the rent prices are in and around NYC.
Some practices, rules, and features make apartments in Manhattan, NY different from that of the average city. Here are a few things that you should know before renting an apartment in Manhattan.
Know your budget
This is a no-brainer tip, since you obviously need to know how much rent you can afford. Your prospective landlord will verify your income before letting you stay in his place. As a general rule, you need to have an annual gross income 40 times the apartment’s monthly rent.
Know your costs
There are many apartment owners who charge a fee, which is on top of the security deposit, application fee, and office administration fees that are a common affair in most parts of the city. If possible, try to avoid these places, instead go to Craiglist and search for “No-fee apartments”.
Plan to find a roommate
Sharing a room with another person is a great way to significantly cut the cost of housing in Manhattan. Try roommate matching apps like Roomi to find someone you can share with.
Flexibility is important
Because of the high rents and the competition for any vacancy in the rooms for rent in Manhattan, it makes sense to be open-minded. The borough is compact and is a great place in terms of transportation options. The difference in rent between Chelsea, for example, and a average NYC neighborhood can be hundreds of dollars a month for basically the same apartment.
Keep paperwork ready
The prospective landlord may want to see your latest tax return and keep a copy of photo ID for security reason. You will also need money to cover for the security deposit and the first month’s rent. To get this done, obtain a cashier’s check in advance, as most landlords do not accept personal checks.
Some practices, rules, and features make apartments in Manhattan, NY different from that of the average city. Here are a few things that you should know before renting an apartment in Manhattan.
Know your budget
This is a no-brainer tip, since you obviously need to know how much rent you can afford. Your prospective landlord will verify your income before letting you stay in his place. As a general rule, you need to have an annual gross income 40 times the apartment’s monthly rent.
Know your costs
There are many apartment owners who charge a fee, which is on top of the security deposit, application fee, and office administration fees that are a common affair in most parts of the city. If possible, try to avoid these places, instead go to Craiglist and search for “No-fee apartments”.
Plan to find a roommate
Sharing a room with another person is a great way to significantly cut the cost of housing in Manhattan. Try roommate matching apps like Roomi to find someone you can share with.
Flexibility is important
Because of the high rents and the competition for any vacancy in the rooms for rent in Manhattan, it makes sense to be open-minded. The borough is compact and is a great place in terms of transportation options. The difference in rent between Chelsea, for example, and a average NYC neighborhood can be hundreds of dollars a month for basically the same apartment.
Keep paperwork ready
The prospective landlord may want to see your latest tax return and keep a copy of photo ID for security reason. You will also need money to cover for the security deposit and the first month’s rent. To get this done, obtain a cashier’s check in advance, as most landlords do not accept personal checks.
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