Renting a place in some parts of NYC has almost become notorious. You’ve probably heard stories about the fast-moving realtor market and about people’s experiences. If you prepare and know exactly what to expect, you can overcome all challenges for first-time NYC renters. NYC moving can be less stressful if you start to explore the market about a month before you plan to move. These are the most common obstacles to finding a new place in NYC.
Challenges for first-time NYC renters you need to know about
One thing that is universal for newbies in NYC is that they don’t know what to expect. They usually have high hopes and eventually, this is exactly the thing that causes stress and anxiety. Once you realize that you can’t have what you have dreamed about, you will be frustrated and that will obstruct you from finding a good deal. You need to have realistic expectations. When you start to explore the market, check out and understand the correlation between price and size of the apartment, as well as the neighborhood. There are top neighborhoods for singles, for example. The question is can you afford living here?
Use the information from various cites about rents and prices. Don’t get your hopes up if you accidentally find something so cheap and great at the same time. All good apartments come with a certain price. If that price is too low for that neighborhood it usually means there are problems with the listing. There can be a construction site nearby, or the building has some quality problems or the worst-case scenario an infestation. The sooner you understand that there are all sorts of people who will take advantage and rent places that are awful, the better for you. Check out different sources when you want to research a property, because there is a lot of databases that have incomplete information.
Find a good real estate agent
Why don’t you take advantage of the knowledge and experience of a good agent? As we already said, the real estate market is very fast and online search can be exhausting and stressful. Having a good real estate agent is important as having a reliable packing and moving companies NYC. Both of them have a job of making your life easier, allowing you to concentrate on other important tasks for relocating to NYC for the first time. A certain way to overcome at least one of the challenges for first-time NYC renters is to get yourself the help that you need. Good agent will try to help you to make a decision when they find you the best deal. You will have somebody to ask questions about everything you cant find online.
Finding a reliable agent is getting done almost half of your work.
Prepare the paperwork in time
Preparing your paperwork before you spot a good deal will ensure that you have a fast reaction. One of the most common challenges for first-time NYC renters is taking too much time for getting everything they need to rent a place. Make sure that you have:
- Letter of employment – it should also have information about your salary. This is a document that prospective’s tenant employer issues providing basic informations about your current status.
- Copy of your ID
- Recent tax returns – this will provide your landlord information about your earning in a year, so they know can you cover down payments or security deposits.
- Previous addresses – in case you have moved a lot you can make a list of your past addresses
- Reference letter from previous landlords – this is optional, and it can help you to seize your dream place, in case you find it.
Everything from this list should be easy enough to get. The difference is will you prepare it in advance or will you lose two or three days for getting everything you need. These couple of days will make a difference in renting an apartment. Challenges for fist-time NYC renters don’t have to involve this easy step.
Credit score can be a big challenge
Needless to say that you need to have a good credit score to rent a place in NYC. If not good, then at least a fair one. In case you don’t have a fair credit score, you will need a guarantor. Challenges for first-time NYC renters are also finding a guarantor. This is somebody who will sign that they will pay your rent in case you cannot. New Yorkers are already familiar with this so they usually have a guarantor even in case they have a fair credit score.
Timing is everything
A saying that is, once again, a spot on. The challenges which first-time NYC renters are facing are hard, like finding a perfect apartment is. It is important to have the right timing for finding an agent, preparing documents and searching for a place to live. Sometimes landlords want you to start a lease in a few days. Are you willing to pay the lease two or three weeks before moving in? Think about this because you will need to make a decision fast if you find a good deal. If there is a significant time lapse between moving in and out, check for storage services. Renting a storage unit will help you to move easy and without stress, knowing that your belongings are safely stored.
Pets are usually an obstacle for first-time renters in NYC
It doesn’t really matter if people like animals or not. A landlord is hesitating to rent you an apartment when you have a large or small pet.
Even in a situation where there are pets allowed, it can be only referred to as small pets. Make sure to check, especially if you have a big dog. Also, it is a bonus if you offer to pay more for a deposit because of your pet dog. Arm with patience and begin the hunt for the perfect place. Unfortunately, having a furry friend will be one of the challenges for first-time NYC renters.