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I am planning on moving to NYC (preferably Brooklyn or Queens) from OOS and getting an apartment in the August rent cycle. I have asked around and been told that beginning of July is the best time for my roommates and I to get an AirBnB and look at apartments in the area. We're going to try and sign a lease in that time period. We're tentatively planning a trip for Wednesday, July 1st to Sunday, July 5th. The only issue with this plan is that the first week of July also coincides with 4th of July weekend. What's the likelihood that we won't make any progress on a lease because landlords or real estate agents are taking the weekend off? And, if so, what's a better time to come to find a lease for August?
Also, if you guys have time, would you have any suggestions for neighborhoods for us? We're three males all 24 y/o, looking for a 3BR for around $3000. All three of us are from different backgrounds so we want somewhere fairly diverse, and we would also like an arts scene, which is why we had our eyes on Brooklyn. Obviously these are preferences, not requirements, and our first two priorities are price and safety. So far we've been looking at Greenpoint and Astoria.
Do you have job offers in NYC already lined up? If not, do you intend to look for employment? Your new landlord (if reputable) will want to know how much you'll be earning before they approve your rental application. 3 bedroom apartments or houses will be easier to find in Astoria but the rent may be higher than 3,000 for a nice place. There is a smallish but growing arts scene in Astoria.
Do you have job offers in NYC already lined up? If not, do you intend to look for employment? Your new landlord (if reputable) will want to know how much you'll be earning before they approve your rental application. 3 bedroom apartments or houses will be easier to find in Astoria but the rent may be higher than 3,000 for a nice place. There is a smallish but growing arts scene in Astoria.
I appreciate the advice, but the doesn't really answer my question. My question was would the weekend of the 4th be an advisable time to talk to landlords, regardless of our circumstances?
I appreciate the advice, but the doesn't really answer my question. My question was would the weekend of the 4th be an advisable time to talk to landlords, regardless of our circumstances?
No,it wouldn't. NYC is a ghost town on the 4th of July weekend. The 3rd,4th and 5th will be dead.
I appreciate the advice, but the doesn't really answer my question. My question was would the weekend of the 4th be an advisable time to talk to landlords, regardless of our circumstances?
What are you going to talk to landlords about-do you have jobs in New York City, money to rent an apartment? That's the first thing a landlord will ask because he needs to know if you can afford to rent his property. Also your salary will determine how where you can afford to live- Greenpoint is fairly pricey even with roommates. Can you come the weekend before or after the July 4th weekend? You might have better luck meeting with landlords and seeing apartments. Also keep in mind it might take longer than a month to rent an apartment.
Make sure you're going to be making a combine income of 120k as thats what the 40x rule most landlords-management companies are looking for. Us real estate agents and certain landlords work on certain holidays or have certain protocols we follow during the holidays.
Make sure you have ALL paperwork handy as some are first come first serve basis with only complete documents. Also alot of landlords-management companies give you around a 14day grace period to rent a vacant apt. If the apt has been vacant for a long time then it might be easier to get 21days-1 month grace period, which would work for you. HOWEVER since some places that will allow aug 1st will probably be occupied during your visit due to the holiday, it will be very hard to view occupied units as current tenants, supers will be away.
If you happen to APPLY (note the difference, no one just comes and signs a lease like someone else mentioned lol) if you get APPRVED depending on the landlord you might not get an answer till the 6-7 of july. Then you will be expected to have your checks (brokers, 1st month, security, sometimes last months rent too) and finally SIGN LEASES around the 8-9th in person. Thankfully more and more landlords-management companies are allowing fed ex for leases, checks, etc.
If you will be using a guarantor (1 or more should work) then they would need to make 80x's the rent equal to 240k. You cant combined guarantor and applicant income. They will also have to sign a rider, lease, guarantor form, etc.
For your budget and space requests dont expect the biggest spaces unless you go into certain areas that are not exactly what it seems you're looking for.
If you want an apartment for August 1st, you should look no earlier than July 1st. Honestly, it's probably best to look the weekend of July 18th. If you have the right financials and no credit issues, you should look for apartments no longer than one weekend, apply for the best one, and after you get approved, you'll need to be available to sign the lease within 24 o 48 hours depending on the landlord. The whole process should take around 3-5 days depending. Landlords don't want their properties to sit vacant not earning any rental income, so if you apply they'll want you to start paying rent soon after your application has been accepted. Doing the search last minute may seem strange if you've never lived in NYC, but the real estate market moves that quickly.
ETA - Astoria perfectly fits your criteria and landlords are a little more lenient with income requirements than they are in Manhattan.
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