These are unique times in the NYC rental agent biz. Prices are lower than we ever thought possible . People are looking to grab the deals. Not everyone wants to live outside the city, we still have a vibrancy and sense of community that keeps folks energized and creative.
So now is an amazing change to grab the deal of a lifetime!
Net effective pricing continues to befuddle some. In some cases landlords will average out the rent which I think is good for everyone. I worry about how people manage a budget when they get a rent holiday three times a year but then have to pay rent the next month.
Qualifications are more important than ever, good credit is GOLD! Let me say that again. GOOD CREDIT IS GOLD. So if your are credit challenged tell your agent. Most likely they have a sense which landlords are picky. You may be asked to get a guarantor or use a third party service.
As you get ready to search, if you may need a guarantor, talk to that person about getting their paperwork ready. If your guarantor has their own business they may need a note from a CPA. Their taxes and financials may take a bit more time to gather.
So here is some good news. I am seeing low priced apartments rent much more quickly than any time over the past two months. Things under 2K are hot. One leasing agent told me she had 13 leases last month!