help! security deposit and first month rent issue! (sublet, apartment)

[kc2256]

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?

[BXGEAR]

That sounds about right

[gvillager]

Originally Posted by kc2256

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.

[DonnaReed]

Originally Posted by kc2256

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.

[Goldie214]

Originally Posted by kc2256

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?

[SeanMc]

Standard proceedure. How much is the broker charging you as a finders fee?.

[Morningside_gal]

You're lucky. We had to pay 2 months security, first month's rent, key deposit, smoke detector deposit and 12% broker fee!

[rlrl]

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

[Viralmd]

Originally Posted by rlrl

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.

[rlrl]

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?