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Old 12-14-2007, 09:08 PM
 
1 posts, read 20,362 times
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Default help! security deposit and first month rent issue!

hi,
i'm new to new york. trying to find a studio apt in new york.
but my broker told me have to pay 1 month security deposit and first month rent to the building management before they provide the lease. is that right procedure in ny?
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Old 12-14-2007, 09:34 PM
 
Location: Queens
841 posts, read 3,025,282 times
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That sounds about right
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Old 12-15-2007, 04:47 AM
 
901 posts, read 2,012,247 times
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Quote:
Originally Posted by kc2256 View Post
hi,
i'm new to new york. trying to find a studio apt in new york.
but my broker told me have to pay 1 month security deposit and first month rent to the building management before they provide the lease. is that right procedure in ny?
Yeah, that sounds correct. 1 month security + 1st months rent is standard procedure in the rental market.
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Old 12-15-2007, 07:21 AM
 
706 posts, read 2,407,986 times
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Quote:
Originally Posted by kc2256 View Post
hi,
i'm new to new york. trying to find a studio apt in new york.
but my broker told me have to pay 1 month security deposit and first month rent to the building management before they provide the lease. is that right procedure in ny?
Yup

Pay money order or certified check and keep your records.

Don't destroy the apartment and when you move, you'll get your security deposit back.
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Old 12-15-2007, 09:16 PM
 
12 posts, read 48,782 times
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Quote:
Originally Posted by kc2256 View Post
hi,
i'm new to new york. trying to find a studio apt in new york.
but my broker told me have to pay 1 month security deposit and first month rent to the building management before they provide the lease. is that right procedure in ny?
I paid security and 1st months and signed the lease and got the key all at the same time. That is standard procedure--is that what they're asking you to do?
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Old 12-15-2007, 11:40 PM
 
129 posts, read 3,147 times
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Standard proceedure. How much is the broker charging you as a finders fee?.
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Old 12-17-2007, 01:21 PM
 
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You're lucky. We had to pay 2 months security, first month's rent, key deposit, smoke detector deposit and 12% broker fee!
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Old 12-21-2007, 07:24 AM
 
11,223 posts, read 14,583,629 times
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Not certain, but I think a rent controlled or rent stabilized lease only requires one month's security and first month's rent

When I rented in a co-op bldg they asked for 2 month's security and first month's rent
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Old 12-21-2007, 08:21 AM
 
7,081 posts, read 23,762,104 times
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Quote:
Originally Posted by rlrl View Post
Not certain, but I think a rent controlled or rent stabilized lease only requires one month's security and first month's rent

When I rented in a co-op bldg they asked for 2 month's security and first month's rent
Co-ops are much more difficult to sublet in, and are more leery of even permitting a sublet, so they have a higher hurdle to clear with regard to security. The board makes the rules in the building.
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Old 12-21-2007, 12:11 PM
 
11,223 posts, read 14,583,629 times
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you're post generated a question in me--I previously rented an apartment in a co-op bldg that was not owned by an individual shareholder--i rented from the management. was that considered a sublet or a straight rental?
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