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We're moving from Portland, OR to New Jersey. I'm going to be working in Manhattan (near Penn Station) so we're looking for places with a decent (under 1hr) commute via public transportation to Penn Station. Some of the places we've looked at are:
We've never lived on the East Coast, but we've heard that it can be expensive to get into a rental, with brokers fees and deposits and such. I'm wondering how much cash I'm going to have to have on hand to get into a place. For a monthly rent of $2,000 (for example), how much should I be prepared to put down to get into a place?
(Any suggestions on neighborhoods with a good commute is also appreciated )
We're moving from Portland, OR to New Jersey. I'm going to be working in Manhattan (near Penn Station) so we're looking for places with a decent (under 1hr) commute via public transportation to Penn Station. Some of the places we've looked at are:
We've never lived on the East Coast, but we've heard that it can be expensive to get into a rental, with brokers fees and deposits and such. I'm wondering how much cash I'm going to have to have on hand to get into a place. For a monthly rent of $2,000 (for example), how much should I be prepared to put down to get into a place?
(Any suggestions on neighborhoods with a good commute is also appreciated )
Thanks!
-- Ben
Much of north Jersey has a "good commute". That's why it's here. However, you've limited yourself to under an hour, which tightens things up but is still possible. I think the towns you've listed will work, especially since you work right near NY Penn.
Time is money, so save yourself the frustration. A realtor can narrow a search down to a few properties that meet your criteria, and the ones that would best suit you. You can see 3-4 properties in an hour and have the agent write up the lease with the disclosures so that you are protected. Good Luck.
For a rental at $2k you need about $7k. First months rent, 1.5 months security and 1 months broker fee. Also when we first moved here a lot of places didn't come with a fridge and also while they had the hook up lines they didn't come with the washer and dryer so you may want to keep a little extra on hand for appliances.
I never had any places that did not have appliances but I did have to pay a deposit for electric and gas (and I have good credit but since I never had utilities in NJ they said this was common practice) which was about another $300 total. Nice thing was the gas company just kept deducting my bills from the deposit, the electric company does not.
I moved in here last October and I had to pay 1 1/2 rent security deposit, 1st months rent and a certificate of occupancy fee (I think it was around $100).
Especially because you are new to the area, I would contact a realtor. They'll help you find properties that are within the budget you would be willing to spend.
One more thing... I would recommend RENTER'S INSURANCE - about $200 or so for the year.
WITHOUT RENTER'S INSURANCE: If your rental is involved in a fire or flood or is otherwised damaged, the landlord is covered for damages, the TENANT is not. So the tenant loses clothes, furniture and other belongings with no compensation.
Also...
The renter's insurance covers you for liability issues - if someone slips and falls he/she can sue the landlord and tenant. Landord is covered by his property insurance, but you're not.
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