If you’re like most NYC apartment seekers, you’ve likely already started your search online, only to discover how quickly the market changes from day to day. In fact, New York City is among the most competitive places in the world to land an apartment, with the most enticing listings getting applications within hours of being posted. This is particularly true during peak summer months. But have no fear. By taking the following steps, you’ll be well on your way to beating out the competition and landing your dream rental apartment in New York City.
- Do Your Research
Before you start your search, it is essential that you know the lay of the land. Take the time to learn about each neighborhood and all the various apartment types. Do you want to live in a doorman building? Perhaps one with a fitness center and bike storage? This process will take some time and care, as there are multiple factors to consider, most importantly your budget. It is also important to keep an open mind throughout your research, as you might be surprised by what you find. By doing this upfront, you will have a better sense of the market, allowing your dream apartment to come into better focus.
- Know What You Want
After doing your research on what is available, the next step is to determine which of the features you looked at are necessary to your life in the city. While it is certainly possible to find an apartment that has everything you want and is within your budget, it more likely that you’ll have to prioritize your needs and go with an apartment that most closely matches them. Therefore, you will need to distinguish your must-haves from the features you would be willing to compromise on. These vary from person to person, but it is important to figure this out in the beginning, as you’ll be better able to spot a perfect listing when you see it.
- Align With an Experienced Agent
Once you have narrowed your search, it is recommended that you speak with an experienced real estate agent. While it is possible to avoid this step in the hopes of saving on broker fees, it is usually more trouble than it’s worth. “No fee” apartments typically have a higher monthly rent to compensate for having no fee. That said, there are several key advantages to using an agent. First, the agent will better understand the market, giving you expert insight into what you should pay attention to throughout your search. Additionally, the agent will have access to all available listings, not just what is advertised, thus increasing your odds of finding a place you love.
- Make a Good First Impression
While this advice may seem cliche, it remains extremely relevant when looking to secure an apartment. Acting in a professional manner can help you stand out, especially if you are in a position to meet the landlord upfront. At the very least, it ensures you will not be taken out of the running. From a strong handshake to dressing professionally to responding in a timely manner, a good first impression goes a long way.
- Have Your Documents Lined Up
Your rental application will include multiple documents, including your past rental history, your credit history, proof of income, and more. These documents will likely be combined with a traditional rental application, as seen here. By having these documents prepared, along with your checkbook in hand, you will be ready to apply on the spot when the opportunity presents itself.
- Be Ready To Commit
This, above all else, might be the most important measure to consider. When looking to rent in New York City, the best thing you can do is be ready to commit to an apartment on the spot. If you decide to wait, even for one day, your listing might be gone. This is especially true during peak summer months. While it is important to make sure that the listed apartment is the one you want, it is in your best interest to act quickly.
By following these steps, you’ll be well positioned to land your dream rental home in New York City.
Ready to start your search? Call Batra Group today at (646) 202-1877.