Things to know before leasing Manhattan apartments

Things to know before leasing Manhattan apartments

If you are determined to get the best Manhattan apartments for rent, than you have to take the help of the brokers in the search process. These brokers can help you in many ways and your search process will become very easy and quick. For that you have to pay them commissions. You have to pay between 12-18% of the year's rent, typically 15% of the year's rent as a commission. For other NYC apartments, the fees are usually less, ranging from one month's rent to 12% of the year's rent.

In order to rent an apartment, you will be asked to complete an application form by your landlord. You may also be required to pay $50-$200 as the application fees. Most of the landlords usually require that the prospective tenant have an income equal to 40-45 times the monthly rent in annual salary. For roommates, the combined income is considered. You and your roommate will need to have all of your income verification paperwork ready to get the required apartment.

If you are a full time student and your budget is low, than most of the landlords require a guarantor. A guarantor is an individual, can be your family member, who preferably lives in New York. Guarantors are asked to reveal all the detailed financial information. The guarantor's income needs to be at least 75 times the monthly rent and they will also need to submit the paperwork.

If you are acquainted with all these points, then surely you can search the best Manhattan apartments.

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