Many people harbor fantasies of moving to New York City at some point in their lives. However, a little research will show that things in the Big Apple are done a little differently. These dissimilarities make things harder for many prospective New Yorkers, but that doesn’t have to be the case. Being informed about some of the biggest differences will make moving to NYC easier.
Perhaps the most important thing to know about the New York City rental market is that it is surprisingly seasonal. Many new college graduates looking for apartments come to the city in the late spring or early summer. It’s best to avoid moving in May, June, or July. Brokers will often price apartments higher to take advantage of ill-informed new residents.
Another reality of renting in New York City is broker’s fees. Apartment brokers are in charge of marketing and leasing apartments for the owners, and they charge prospective tenants for their services. In most places, the owners would pay these fees, but this simply isn’t the case in New York City. The fees range from one month’s rent on the low side to two month’s rent on the high side.
Lastly, it’s vitally important that those looking for a place to rent in New York City be on the lookout for misleading apartment listings. For example, an apartment listed as “”cozy”” will inevitably be tiny. A “railroad” apartment will require residents to walk through roommate’s bedrooms to get to the back of the apartment, as this layout features all of the rooms in a row with no hallways.