Expert advice (3)
Looking for an apartment at an affordable price with decent quality in Manhattan can be a time consuming and laborious task. On top of that, landlords may require two months security and the first months rent. Also, landlords in Manhattan who cover part of the brokers fees on their apartments can end up raising the monthly rent to account for the discount.
When a landlord gives an owner paid concession he's going to offset that with with the rent so at days end he receives the same net in his pocket. Owner paid concessions become more common in a soft economy and realize that covering brokers fees is more cost effective than letting apartments sit on the market, therefore renters who are more reluctant to pay a lump sum to a broker may not realize that the fee is spread out over the term of the lease. Also, in this current tight rental market, why possibly spend so much of your free time and energy?
1. Timing is Crucial
The housing market is very competitive, especially for those hard-to-find affordable apartments. Be prepared to make decisions quickly since it is not unusual for units to turnover in a single day. Start your search no earlier than four weeks before your desired move-in date and be flexible by a week or two with your plans. Make apartment hunting your life for two or three weeks - that should be enough time to get familiar with the market and what you are looking for.
New York City is still considered a cool place to be, and everybody wants a part of it. "Unless banks stops lending we [the local real estate market) is not going to fall. There are a number of factors contributing to the city's seeming immunity fro Nm the national real estate crisis.