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How to rent an apartment in New York City

New York is a big city for sure, which means the real estate industry is going to be a competitive market. Renting an apartment can also be a daunting task, and even the landlords aren’t making things easy with their notorious strictness. So is there a way out?

Obviously, there is; all you need is proper guidance; if you are really serious about getting an apartment, then you need professional help, which is why we are here. This article will explore various unique ways you can rent an apartment in this fantastic city without encountering much stress.

If this is your first time in New York or you aren’t familiar with the housing industry, we recommend following the steps listed below and also learn more about month to month rent; it will help prepare you to prevent any overwhelming unforeseen event you may encounter.

Easy ways to rent apartments in New York City

Set your budget

Money is the priority when it comes to purchasing something. So before you start doing any research, check your pockets and be sure of how much you are going to budget for the rent. Most landlords in New York City want to be sure that you make at least 40× the rent price annually. So, for example, if the rent price is $1,000 monthly, you should make around $40,000 annually.

But if you don’t earn this amount, that doesn’t mean you can’t still go for the rent; you can use a guarantor. However, the guarantor must also make at least 80× the rent price. So if we are using the above example, the guarantor must be earning around $80,000 annually. Meanwhile, this annual income mustn’t come from a single source; it can be a combination of two or more payments, depending on how many you have. Overall, each landlord has their requirements; these are just general ones.

Prepare all the essential documents

Once you are sure you have enough money to fund the rent. The next step is to prepare your documents. Like a mortgage, renting a home in New York is also a strenuous task. The landlord will ask you to pass a credit check, tax statements, and pay stubs. This will help them know about your income and whether they can afford the unit.

So you must pass the credit check before they approve you. The general score determining your eligibility is 680, although it can be lower, based on the situation. We recommend you get all the papers ready ahead of time so whenever you find a suitable apartment, the work will be much quicker and easier.

Decide on the area you want to live

After analyzing your budget and getting your papers ready, your next move should be to look for a suitable location you want.

New York City features many unique areas that offer homes for everybody, regardless of budget. We are sure you want to select an affordable home without compromising quality and necessary amenities.

Search for available apartments in the area

What is next is to start looking for the available apartments in the area you choose. It’s best to search for apartments in different places because the industry is competitive. You can also conveniently search using your phone for the best rental apartments in the area you desire.

Sort out apartments that reach the market; if you haven’t gotten the one that suits your needs, you can put a notification that will notify you whenever there are new listings.

Apply for the apartment

After gathering the money, and papers, deciding on the area you want to live and choosing the apartment you want, the next step is to apply for it. The landlords will present to you their requirements; note that they are stringent, so ensure to give them all they ask for.

Also, make sure to submit the docs on time, especially if you choose a new building because taking a long time to do so might give another person a chance to apply for it, do all the necessities, and snatch the house from you. After submitting all the requirements, you should expect a response within two to three days.

One point to also note when applying for a home rental is negotiations. As tempting as you want to negotiate the price with the landlord, it’s also essential to evaluate when and what to negotiate.

Even though it might be tough to negotiate with a landlord, there are signs that you can leverage. These signs include if the house has been on the market longer than usual, maybe an issue with accessibility, or if the home is in bad condition.

Sign the lease and plan when to move-in

After getting your application approved, the next step is to sign the lease. Once you sign it, your landlord will expect you to provide checks.

Generally, you are expected to pay for the security deposit and broker fee if you see it in the lease. However, some landlords will ask you to pay the first month’s rent fee.

Once you sign the lease, give the checks and finalize your move-in details. The counting usually starts from the day you sign the lease, so it’s best to move in on the same day, except if it’s inconvenient.

When is the best time to start looking for an apartment in New York City?

If you are planning to rent a home, the best time to start looking for an apartment is about 30-40 days before the date you plan to move in.

This is because if you wait till the day you want to move in, you may likely not find one, or even if you find one, it won’t suit your taste, especially if you aren’t on the best budget.

Moreover, the real estate industry isn’t a fixed field, meaning it can be flexible, and prices can change. Also, if you aren’t ready to rent a house, it’s best not to speak with the home agents.


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