A guide to finding a New York City apartment to rent
Are you looking for a new New York City Apartment? Know someone who is? I wrote this guide for you.
In May 2023, I got a new apartment and I learned a lot in the search. After living on the Upper West Side for many years, I found an incredible place in Brooklyn despite the fact that the New York City rental market is the worst it’s ever been. If you or someone you know is searching for a new place to call home in this city, I hope the information I this guide is helpful. If you’ve recently done a search and have tips to share, please post them in the comments to help others.
Tip #1: Decide how much you can afford
Sit down and honestly assess your current finances. What can you afford to pay monthly? How much would you like to pay? How much money do you have upfront to get into a new apartment? Do not start a search until you have these questions answered. In a wild rental market, be clear about staying within your budget. Price trumps everything right now. Also recognize the gap between what you could afford to pay and what you’d like to pay. That distinction is important, and you don’t want a broker to talk you into something you can’t afford.
Tip #2: Have all your paperwork and money ready to go
Before you begin your search, have all of your paperwork organized and ready to send at a moment’s notice. I kept mine in a Google Drive folder that I could easily share when I put in an application. In that folder, I had the following information:
- My most recent tax filing
- Paystubs
- Letter from my employer saying I’m employed and my salary
- Letter from current landlord saying I’m in good standing
- Existing lease with dates and monthly rent listed
- Credit rating (you can get these for free now without it impacting your credit score from many banks and credit card companies)
- Bank statements
- Investment fund statements
- My dog’s headshot (yep, they asked for it!) and vaccination record
- Personal references
- Resume
- If you’re self-employed, you may also need a letter from your accountant and / or attorney
Not every application requires all of this information but I wanted to have it all ready to go just in case.
Tip #3: Have your money ready to go
Make sure you have money for first month, last month, security deposit, and the broker fee in your bank account, ready to access when you want to make an offer. In this competitive market, you’ll need to jump at a deal as soon as you find one.
Tip #4: Make your peace with paying a broker fee because it might help you in the long run
I hate paying broker fees. I’ve rarely paid them in the past but in this market, fee-free apartments were much less common this time than they were in years past. Also, do the math. I found that the apartments with broker fees were less expensive than those that were fee-free and over the course of a year, the broker fee would be compensated for by a lower monthly rent. So yes, I needed more money up-front but after a year (or less) paying that money upfront would be worth it. I understand that this is a lot to ask of renters, and that I’m tremendously fortunate that I did have the money upfront. I never take that for granted for a moment. In years past, I was neither this lucky nor fortunate.
Tip #5: Streeteasy.com searches are your best resource right now
While there are many ways to find an apartment, I found that the best online resource is Streeteasy.com. It’s the most comprehensive, updated throughout the day, and easy to set up searches to be emailed to you that match your criteria. I tried many others, but ultimately everyone always lists on Streeteasy if they’re listing an apartment online.
Tip #6: Add a personal message to each Streeteasy.com apartment inquiry you send
Once you find an apartment that interests you on Streeteasy.com, don’t just send an anonymous inquiry. Add a personal note with your credit score, annual income, employer, profession, the rental price you want to pay, and the date you’re looking to move. Brokers read these and they often have other apartments that may match your criteria that they have not listed. This is because they pay per listing on Streeteasy.com. Often they’ll list a few, and then tell those that message them about others that they have that aren’t listed.
Tip #7: Message Streeteasy.com brokers even if they don’t have a listing that matches what you’re looking for
Pursuant to Tip #6, on Streeteasy.com you may find the same brokers popping up in neighborhoods that interest you. Often, there are a few that seem to have a corner on the market of a specific neighborhood. That’s because many of them have deep ties to specific neighborhoods and the landlords, management companies, and property owners there. Streeteasy.com lists their email addresses and phone numbers. Message or call them, tell them what you’re looking for, and ask if they have anything available or coming available soon that might be a good match.
Tip #8: Tell everyone you know you’re looking for an apartment
Some apartments are pure luck. A friend of a friend of a friend knows a place is about to open up. In case some of these gems are somewhere in your sphere of influence, tell everyone you know by every means you have that you’re looking for a new apartment. Be clear about what you want and tell them so they keep you top-of-mind in case they hear of something.
Tip #9: Be open to not getting everything you want
I hope you find everything you’re looking for in a new apartment. I found I needed a list of non-negotiables and nice-to-haves. There was no perfect apartment. That was pretty evident to me from the outset of my search. My new place does have all my non-negotiables and many of my nice-to-haves, so I knew it was the right fit as soon as I saw the description.
Tip #10: Be open to new neighborhoods
I loved living on the Upper West Side and lived there for many years. However, when I looked at my list of non-negotiables, I quickly realized that I would have to move to a new neighborhood. That was disappointing at first, but I quickly got over it and moved on with my search. And this means I didn’t waste too much time focused on a neighborhood that just didn’t match my needs anymore. Living in a new neighborhood in a borough I’ve never lived in before gave me a fresh and wonderful perspective on life and this city that I wouldn’t have had otherwise.
Tip #11: See the apartment in-person, and preferably at night
I went to see so many apartments that looked completely different than the photos online. Long shots can make them look bigger than they are. Sometimes the photos were old and the apartments were much more run-down than they looked online. I also went to see many of them at night to see if I’d feel comfortable coming home late at night. Nothing replaces an in-person look!
Tip #12: Show up looking professional and responsible
Brokers and property owners make a split-second decision when they see you. It’s not right, but I saw it happen again and again in this search, especially since a broker usually shows the apartment to multiple people at once. Sometimes I’d go to open houses and there were 30 people there to see it. When you go to see an apartment, look the part of a professional, responsible person. It goes a long way.
Tip #13: Book movers early
I booked Piece of Cake Moving before I even knew where I would be moving because it was a local move. They were amazing through the whole process. With just a $50 deposit, I could secure my rate, date, and time, and that could be changed later as long as they had availability (and sometimes has a lower or higher fee). Remember that the earlier you book, the lower the rate and the more availability they have.
Tip #14: Be flexible on move date and putting your items in storage
Piece of Cake Moving offers a free month of storage with every rental. Yes, you have to pay to move things into storage and out of storage, but for the right deal that might be worth it to you. It was for me. There was a two-week gap between my old lease and new lease so I got an Airbnb out of town and put my things in storage. This is because it was an incredible deal. Yes, it was a hassle on some fronts, but it was absolutely worth it!
I hope this guide is helpful to you and anyone you know looking for an apartment in New York City. If you’ve got any questions, put them in the comments and I’ll share anything I know. Also, if you have other tips about moving in New York that I didn’t put in this guide, please share those, too. Let’s help each other find a great place to live!