There are three key things an apartment seeker can do to make an apartment search simple and efficient.
1. With the understanding that there is quick turnover in the NYC /Brooklyn rental market, don’t begin too early and don’t start too late. Spaces rent quickly. Pricing and vacancy rates fluctuate based on season and market trends. To get a sense of what is out there, invest your time searching heavily about 30 days before you are ready to move.
2. Don’t set appointments to view apartments if you are unable to initiate an application the instant you find the right space. Apartments can be rented days after they become available. After finding a great space, many renters lose the opportunity because they are unable to commit without the consent of others, or because they are unprepared to submit application documents or move-in monies in an expedient manner. If there is more than one decision-maker (roommates, spouse, partner, etc..), coordinate your schedules so all parties can be come to the appointment together. Come to the appointment with all documents in-hand and the ability to gain quick access to application monies and a deposit.
Required documents and monies include:
*Credit Report for each individual adult (which I will run ($12 fee))
*Last year W2.
*Two month’s worth of pay stubs.
*Three months of bank statements.
*Verification of Employment.
*Current Landlord name and number.
*Photo Id
Additional funds needed.
*One-month rent
*One-month security
*Broker fee
3. If possible, have a guarantor in place. Some landlords require guarantors for students, self-employed individuals, or those with less than perfect credit. Guarantors will be required to furnish the same documents as renters, sign a notarized guarantee agreement, and consent to a credit check.
Being ready in the ways listed above will save time and energy, maximize potential, and create ease in the process of searching for any space.
