June 19, 2024


Mad about real estate

Renting Your First NYC Apartment

Each year thousands of newly graduated students flock their way to NYC to try their luck and start their careers. At first almost everyone assume that there is a New York City apartments Rental waiting just for them.

First surprise they will encounter is probably the price for their dream…

The average monthly rent for a studio apartment in Manhattan Village, which considered being the majority of new comer’s favorite place of living, is just over $2,200 and if you want amenities such as doorman, it can get to a minimum of $3,500.

Most of the NYC newly Renters unwillingly need to come up with a higher budget then they first thought of, but for those people, there is another “surprise”:

Manhattan apartments for rent in can be very small, small by any measures. It is quite common for a graduate student, first time renter in NYC, to buy a one person bed considering the space limit in such a small apartment.

In addition to the two realities mentioned above there is another difficulty, very common in New York City apartments: property-owner requirements. Due to the fact that at any season, NYC apartments landlords are flooded with submission for their NYC rentals, one of the outcomes is that they set “key” money:

One of  landlords financial requirements is that they want no less than tenants whom receive at least 30 times the average monthly rent (2500$). This means that most of those “first time NYC renters” can’t pay the renting fee because the average graduated student’s annual salary is approximately 35,000$ – 40,000$ therefore a 2500$ per apartment means 75,000$ annually. The one that can’t afford it must use the help of guarantor, typically a relative.

If we take all three difficulties presented above, some landlords ask for safety deposit and first – last month’s rent. A forthcoming first rent can go high as 10,000$.

The solution:

The answer in searching for your first NYC apartment rental is to gain as much knowledge as you can get over NYC property listing beforehand and keep an open mind. NYC Renters that go with “blinders” often grow high standards they can’t pay for. If you keep that in mind, it will make your NYC apartment rentals search much easier.

These are the frequently requirements that many land lords requests from renters in NYC:

  1. Contact information for prior landlords.
  2. Tax returns for at least two years.
  3. Current bank statements.
  4. Verification of other incomes, like profits from stocks, real estate or trust resources.
  5. Personal reference letters.
  6. Business reference letters.


Some real estate firms provide better and easier solution, one of them is “ROYALTON REALTY GROUP”.  One of this real estate company’s targets is to make the search experience as effortless and simple as possible. They even provide NO FEE listings among other amenities for your New York City apartment Rentals.

Another professional company is “BEST APTS” real estate agency. One of this agency’s key benefits is the dedication of their NYC real estate agents, once they establish costumer – mediator friend like bond, their goal will be your goal and they pursuit it till your aim accomplished.

The last Agency that I’m going to advise you with is “Manhattan connection”, one of  the top Manhattan Real Estate agencies. This professional business was established 15 years ago. Their reputation earns elevated opinion of both clients and reputable leader real estate agencies in NYC. One of many services they provide, in their client oriented site, is the option to refine your results with variety filters such as No fee rentals, sublet and condo/coop sales check boxes.

One way or another, if you are planning on renting an apartment in New York City for the first time, make sure you remember the guidelines mentioned above, use the best NYC apartment’s listings resources and try to have fun while searching for your special NYC apartment.