Newbie questions to apartment hunting in NYC!
July 4, 2011 10:13 PM Subscribe
Newbie questions to apartment hunting in NYC!
My friend and I are looking to get an apartment together in NYC, and as we are both very new to it, we are confused and have a lot of basic questions!
1. We heard that, to get a lease on an apartment, the would-be tenants must provide proof that they have an annual income that is at least 50 times the monthly rent (e.g., for an apartment that is $2 000/month, tenants must earn $100 000). Is this true? Is it also true that cosigners must have an annual income that is at least 90 times the monthly rent?
2. If all of the above is true (!), how do students find apartments? Do students tend to get month-to-month leases?
My friend and I are looking to get an apartment together in NYC, and as we are both very new to it, we are confused and have a lot of basic questions!
1. We heard that, to get a lease on an apartment, the would-be tenants must provide proof that they have an annual income that is at least 50 times the monthly rent (e.g., for an apartment that is $2 000/month, tenants must earn $100 000). Is this true? Is it also true that cosigners must have an annual income that is at least 90 times the monthly rent?
2. If all of the above is true (!), how do students find apartments? Do students tend to get month-to-month leases?
Students have roommates. Sometimes lots of roommates.
posted by Thoughtcrime at 10:51 PM on July 4, 2011
posted by Thoughtcrime at 10:51 PM on July 4, 2011
Best answer: When we were first looking, we heard 40x the rent and were turned away from some realtors when they said they wouldn't be able to help us. When we did finally find a place we liked, I think the realtor who showed us the place was instrumental in convincing the landlord that the student loan documents we had represented sufficient income.
We had been looking at "no fee" apartments on craigslist (where the landlord pays the realtor's fee instead of you). That will limit your choices but save you a bunch of upfront money (the fee is usually either one month's rent or 12% of the yearly rent).
The proof of income wasn't even an issue at all when we moved into a new apartment after a few years. Just mentioning that we were already living in a fairly nice area of NYC was apparently proof enough.
posted by cali59 at 2:28 AM on July 5, 2011 [1 favorite]
We had been looking at "no fee" apartments on craigslist (where the landlord pays the realtor's fee instead of you). That will limit your choices but save you a bunch of upfront money (the fee is usually either one month's rent or 12% of the yearly rent).
The proof of income wasn't even an issue at all when we moved into a new apartment after a few years. Just mentioning that we were already living in a fairly nice area of NYC was apparently proof enough.
posted by cali59 at 2:28 AM on July 5, 2011 [1 favorite]
Best answer: It's been a long time since I've done this, but have you looked at your university's off-campus housing office/board? They may be able to help.
posted by chengjih at 5:00 AM on July 5, 2011
posted by chengjih at 5:00 AM on July 5, 2011
Best answer: We've heard 40 times the rent, 80 for a guarantor.
Just did an apartment search; these seem to be the current numbers.
posted by ThePinkSuperhero at 6:31 AM on July 5, 2011
Just did an apartment search; these seem to be the current numbers.
posted by ThePinkSuperhero at 6:31 AM on July 5, 2011
Best answer: By far the cheapest and easiest option is to find and lease or sublet rooms in an apartment with someone who is already established there.
If the two of you want to stick together, look in rooms/shared in Manhattan and Brooklyn on Craigslist, and do a search for two rooms.
Your school should also have a housing office, and that is a great place to ask for tips and get leads on apts and shares that don't even reach the public eye or Craigslist.
posted by rmless at 7:03 AM on July 5, 2011
If the two of you want to stick together, look in rooms/shared in Manhattan and Brooklyn on Craigslist, and do a search for two rooms.
Your school should also have a housing office, and that is a great place to ask for tips and get leads on apts and shares that don't even reach the public eye or Craigslist.
posted by rmless at 7:03 AM on July 5, 2011
Response by poster: Thanks for the replies so far. Contacting the university seems like the way to go; a friend of mine let me know that NYU GSAS (of which I will be a part) has a lease guarantor program for fully funded PhD students. I've just sent an e-mail requesting more information on the guarantor program; I just hope that I will still be eligible, even though I am not a US citizen.
Meanwhile, please keep the replies coming! From the sounds of it, finding a good place in New York is something of a nightmare. My friend and I are definitely interested in living in the cheaper areas (Brooklyn!), although we definitely prefer locations that will enable easy commute to NYU and to her future work place.
posted by tickingclock at 11:31 AM on July 5, 2011
Meanwhile, please keep the replies coming! From the sounds of it, finding a good place in New York is something of a nightmare. My friend and I are definitely interested in living in the cheaper areas (Brooklyn!), although we definitely prefer locations that will enable easy commute to NYU and to her future work place.
posted by tickingclock at 11:31 AM on July 5, 2011
Best answer: It can be a nightmare. A lot of the apartments in NYC are locked up by "rental brokers" who will charge you a month or more of rent in return for finding you the place, and most places you find -- with or without brokers -- will have income requirements.
The suggestion to talk to NYU is a very good one; they should have some listings that NYU students pass off to other NYU students. Brooklyn is a good idea too. You might like Fort Greene or Cobble Hill if they're in your price range.
I live in NYC, and if there's something simple I can do to help please feel free to memail me.
posted by hungrytiger at 12:57 PM on July 5, 2011
The suggestion to talk to NYU is a very good one; they should have some listings that NYU students pass off to other NYU students. Brooklyn is a good idea too. You might like Fort Greene or Cobble Hill if they're in your price range.
I live in NYC, and if there's something simple I can do to help please feel free to memail me.
posted by hungrytiger at 12:57 PM on July 5, 2011
Best answer: The classic way, if you don't have friends with rich parents, is to hop onto a pre-existing lease. Often what happens is that somebody several generations of grad students ago got the place, and then every year some people stay and some people leave - and here you are, a decade later, taking your turn through the revolving door.
If you guys are grad students, you probably want to find a big group place with other NYU grad students. Often in the form of a 3 or 4 bedroom apartment somewhere in Brooklyn. Browse the shares section of craigslist.
posted by Sara C. at 4:32 PM on July 5, 2011
If you guys are grad students, you probably want to find a big group place with other NYU grad students. Often in the form of a 3 or 4 bedroom apartment somewhere in Brooklyn. Browse the shares section of craigslist.
posted by Sara C. at 4:32 PM on July 5, 2011
Best answer: If you are willing to live in Brooklyn, then you should be looking for an apartment in Prospect Park. The N train goes through that neighborhood. If you get an apartment near 59th St and 4th Ave in Prospect Park, then you will have a quick commute on the express N train to Union Square.
Plus, Bay Ridge is just a few stops further into Brooklyn. 3rd Ave in Bay Ridge is a great restaurant, bar area in South Brooklyn.
I commuted to NYU from that area myself (years ago).
posted by Flood at 6:58 AM on July 7, 2011
Plus, Bay Ridge is just a few stops further into Brooklyn. 3rd Ave in Bay Ridge is a great restaurant, bar area in South Brooklyn.
I commuted to NYU from that area myself (years ago).
posted by Flood at 6:58 AM on July 7, 2011
Best answer: Prospect Park is not a neighborhood, per se. It's a park.
Neighborhoods bordering the park include Prospect Heights (which is where I live! feel free to ask me questions about it!), Crown Heights, Prospect Lefferts Gardens, Park Slope, Windsor Terrace, and Kensington/Ditmas Park.
Some of these neighborhoods are better than others, in the general scheme of "Is This A Good Place To Live". Sections of Crown Heights and PLG are blighted areas with crime problems and a lack of basic resources that middle class people expect from a living situation (grocery stores, public transit access, stuff like that). Other parts of those same neighborhoods are fine, though, so YMMV. Conversely, Park Slope can be really expensive, overrun with suburban-style families (SUV's, gigantic strollers, entitled brats), and plagued with the opposite of the resources problem - you might find yourself in easy walking distance of a Malaysian restaurant, lesbian bar, four bike shops, three boutiques, and an artisanal fromagerie, but a 20 minute hike to laundry, subway, or groceries because people who live there are wealthy enough to drive everywhere and/or have "the help" do that stuff.
So you're definitely going to want to take each neighborhood on a block by block, or even building by building, basis.
The N train does not serve any of these neighborhoods. Your best bet for subway access around Prospect Park heading towards NYU is the F (Park Slope, Windsor Terrace, Kensington/Ditmas Park). The Q, 2, 3, 4, and 5 serve various bits of Prospect Heights, Crown Heights, and Prospect Lefferts Gardens - these lines won't jet you directly to campus, but they're still very useful trains compared to lines like the R (slow as hell if you're going all the way into Manhattan) or the J/M/Z business over in Bushwick (these lines don't really go anywhere useful and operate in a particularly cryptic fashion with service drastically reduced outside of rush hours).
The only conditions under which you should live in Bay Ridge is if you live in easy walking distance to an N train. The R takes forever to get anywhere, and much of Bay Ridge is not well served by the subway system at all.
posted by Sara C. at 9:45 AM on July 7, 2011
Neighborhoods bordering the park include Prospect Heights (which is where I live! feel free to ask me questions about it!), Crown Heights, Prospect Lefferts Gardens, Park Slope, Windsor Terrace, and Kensington/Ditmas Park.
Some of these neighborhoods are better than others, in the general scheme of "Is This A Good Place To Live". Sections of Crown Heights and PLG are blighted areas with crime problems and a lack of basic resources that middle class people expect from a living situation (grocery stores, public transit access, stuff like that). Other parts of those same neighborhoods are fine, though, so YMMV. Conversely, Park Slope can be really expensive, overrun with suburban-style families (SUV's, gigantic strollers, entitled brats), and plagued with the opposite of the resources problem - you might find yourself in easy walking distance of a Malaysian restaurant, lesbian bar, four bike shops, three boutiques, and an artisanal fromagerie, but a 20 minute hike to laundry, subway, or groceries because people who live there are wealthy enough to drive everywhere and/or have "the help" do that stuff.
So you're definitely going to want to take each neighborhood on a block by block, or even building by building, basis.
The N train does not serve any of these neighborhoods. Your best bet for subway access around Prospect Park heading towards NYU is the F (Park Slope, Windsor Terrace, Kensington/Ditmas Park). The Q, 2, 3, 4, and 5 serve various bits of Prospect Heights, Crown Heights, and Prospect Lefferts Gardens - these lines won't jet you directly to campus, but they're still very useful trains compared to lines like the R (slow as hell if you're going all the way into Manhattan) or the J/M/Z business over in Bushwick (these lines don't really go anywhere useful and operate in a particularly cryptic fashion with service drastically reduced outside of rush hours).
The only conditions under which you should live in Bay Ridge is if you live in easy walking distance to an N train. The R takes forever to get anywhere, and much of Bay Ridge is not well served by the subway system at all.
posted by Sara C. at 9:45 AM on July 7, 2011
This thread is closed to new comments.
posted by gregoryg at 10:27 PM on July 4, 2011