The NYC rental market is a nightmare right now - here's how my roommates and I scored a no-fee apartment within my budget
AP Photo/Mary Altaffer
- The NYC rental market is cutthroat right now - more so than usual.
- I waited in line at packed open houses, was ghosted by realtors, and dodged ridiculous brokers fees.
- Here's how my roommates and I finally scored a no-fee Manhattan apartment within our budget.
New York City is back - and so is ridiculous rent, sketchy realtors, and fierce competition over the most mediocre of apartments.
This September, my two roommates and I joined the wave of young professionals looking to move into the city after months of working from our childhood bedrooms, unleashing a frenzy of pent-up demand onto the rental scene.
After weeks of searching, here's how my two roommates and I finally scored a three-bedroom, no-fee apartment within our budget, and important tips I learned along the way.
Pictures and virtual tours can be incredibly deceptive
That "spacious" bedroom? Can't even fit a twin mattress. Expecting a functional kitchen? The gas hasn't worked in months, but don't worry - an air fryer will be provided. Oh, and go ahead and delete a dishwasher or washing machine off your list.
My first housing tour in the East Village taught me an important lesson: agents are incredibly proficient at wide-lens photography and PhotoShop. One-hundred percent of the apartments I viewed were substantially worse in person than they looked in pictures.
If it wasn't already posted, I always contacted the agent for a video tour. Since we lived an hour away from Manhattan, this was vital to determine if the apartment was worth the train ride in.
Before arranging official tours, I asked the agent a list of questions to nail down specifics like hidden fees, amenities, floor plans, and closet space.
Luckily, we didn't have a hard move-in date, allowing us to be selective in our search and only apply to no-fee apartments. If an apartment checked the basic essentials off on our list, we called the agent to set up a tour as soon as possible.
Get to open houses early with your application ready
Most young people returning to New York have similar budgets and location preferences - applicants looking for shared apartments downtown face heated competition.
I learned this the hard way after traveling an hour and a half to a listing, arriving just three hours after its open house. Once I reached the front door, the realtor texted me: "sorry, we have too many applicants already."
There are plenty of online resources about what kinds of materials are needed to qualify for an apartment in New York City. If you're a student or entry-level professional who doesn't make six figures, you'll likely need a US guarantor.
Our apartment had an online application posted to its website that we filled out even before the tour. While many brokers don't let you apply in advance, it's worth checking to make sure you're the first applicant in their inbox.
Follow up and be persistent - you might get lucky
Mathias Wasik/picture alliance via Getty Images
The final leg between our application and acceptance was a combination of persistence and luck. We followed up with the agency's office on the phone and over email to demonstrate our interest. But the next day, we were notified that they had decided to move forward with a different applicant.
Any hope we had in scoring the no-fee apartment (with a dishwasher!) was gone as we frustratingly returned to the Streeteasy app.
Then, a week later, they emailed us saying the other applicant had fallen through and the lease was ready for use to sign - a New York City miracle.
from Business Insider https://ift.tt/3CykpU3
via IFTTT
Comments
Post a Comment