Renting an apartment in Manhattan is an experience that can be both stressful and frustrating if you are not prepared. This guide has been created to assist you as you search for and secure your new apartment.
There are two crucial steps of preparation. The first is gathering the proper documentation. Many people have missed an opportunity to live in their dream apartment because time was wasted chasing down the proper paperwork. The other crucial step is discussing your financial and with your agent. Time and energy will be wasted if, for example, a bad credit history or a 75-pound dog is not brought to your agent's attention from the beginning.
Whether applying for an apartment in a rental, co-op or condo building, you will most likely need the following documentation. Please gather this information and documentation in advance of your housing search!
Letter from employer stating position, salary and length of employment (or start date if you have not yet started), and any information regarding bonus, guaranteed or otherwise.
Last two pay stubs
Last two years' tax returns
Last two months' bank statements
Name, addresses, and phone numbers of previous landlords
Two personal reference letters
Two business reference letters
Verification of other assets such as real estate, securities, etc.
Photo identification (driver's license, passport, etc.)
If you are relocating from outside of New York, prepare your funds ahead of time. Landlords will not accept personal out-of-state checks. Bring traveler's checks or certified bank checks in amounts sufficient to cover two months' rent, any brokerage fees, a credit check fee, and any additional fees such as a move-in/move-out fee or building application fee.
Once your personal and financial documentation is in order, you will then be prepared to view and select prospective apartments. Remember, Manhattan Realty Group agent can provide you with a wealth of information to assist you in making an informed decision.
Once you find a home that suits you, you must fill out application, submit documentation, and pay an application fee. When your Manhattan Realty Group agent has negotiated agreeable lease terms, a credit report and reference check will be done.
Upon final confirmation, you will be asked to sign a lease and settle any outstanding applicable fees. Once the lease is finalized, Manhattan Realty Group can continue to help you in your relocation. Ask how any of our affiliates can be of service to you.
Finally, and most importantly...celebrate!