If you’re planning to rent long-term in New York, there are certain tips you need to follow. These include before and after you sign a New York residential lease agreement. The top ten tips you’ll have to keep in mind are as follows:
When apartment hunting, few people use all the resources at their disposal. Too many stick with broker services or basic online listings. No app has everything, however, you’ll have to broaden your horizons.
You might even find your dream rental by noticing a “For Rent” sign. Getting in touch with a local housing authority is also a good idea. They could help you find Section 8/public housing.
Choosing where exactly to live is often a tradeoff. If you need somewhere with cheaper rent, it’s best to avoid Manhattan entirely. In fact, the average rate for a SoHo apartment is over $6,000 a month.
It’s good to look into rent-regulated properties in the area. These are only allowed a certain level of rent increases year-on-year. However, these homes will likely be in high demand.
Moving is expensive. You’ll have to contend with security deposits, the first month of rent, and actually transporting your stuff. You can potentially offset this by negotiating a longer lease. This protects you against rent rises for longer.
It’s also possible to ask for extra amenities, such as newer home appliances or furniture, to justify the rental price. It’s always worth asking about this, just in case.
Returning to rent regulation, make sure a rent-regulated property actually abides by these rules. Understanding your rights here is essential. For example, they must give 90+ days' notice if they plan to retake the apartment for their family.
Check your apartment’s rental history on the state’s Homes and Community Renewal site. If you don’t know about the home’s stabilization status, this can help you figure it out.
Once the landlord presents you with a lease, check it several times. Make sure it has everything you two talked about. Don’t leave anything to a verbal agreement — they have no duty to honor this.
Compare their agreement to a free online New York lease template. This will show you if they’re leaving anything out. If there are any major differences, ask yourself why that might be.
If you’re set on a long-term rental, you have more freedom to decorate the place. You don’t have to stick to “portable” decorations and fixtures you can take with you.
It’s still good to ask the landlord how much you can change the property, however. They may put harsh limits on this. There’s a lot you can do if they let you decorate, even on a budget.
When you plan on being somewhere for years, you must be on good terms with the landlord. If this dynamic goes sour, they might end the lease. However, don’t let this stop you from exercising your rights.
Practice open communication whenever the landlord contacts you. Respond to their emails and other correspondence promptly. It’s also important that you look after the property and keep it in good condition.
New York winters have a reputation for being quite harsh. This means you need to winterize the home so you can stay warm on a budget. Make sure your attic has insulation and that there are no major drafts.
On top of this, use a smart thermostat. This adjusts your energy usage on the fly, maintaining an affordable yet comfortable temperature. LED lighting also lowers your bills.
You should keep up with your neighbors if you’re going to be around for a while. This extends to your roommates. This is a chance to make friends and embrace New York’s famous hospitality.
Look out for community events online and via flyers around the neighborhood. It’s up to you just how much you want to participate. But this can help battle potential loneliness.
Some landlords let you sublet your apartment. This means you’ll be able to use a spare room as an extra source of income. However, consider if this arrangement is one you’d be okay with.
Alternatively, you could sublet while going away for a while. This means you won’t have to worry about paying rent for somewhere you’re not staying. When you’re dealing with New York prices, this can be a lifesaver.
Renting long-term in New York comes with its fair share of risks. With the right planning, you can navigate these and avoid breaking the bank too much. Above all else, however, make sure your rental contract is fair to your situation.
