As New York is the world’s number one metropolis and home to many prestigious universities. It is hard to imagine renting an apartment. Today, uhomes brings you some advice on houses for rent NYC.
Houses for Rent NYC Process
Step1: Determine the house you want to live in, and then go to the official website of this building to register an account. Then you need to submit an application, fill out personal information directly submit, and pay the application fee. Normally, most of the New York building application fee is 20 dollars. However, there are individual building application fee is 100 dollars. (some buildings requires you to submit your application with the requirement materials to hold house).
Step2: After you submit your submission, the staff will begin to process your application. The first thing for you is to submit materials to the building staff to review. The materials generally include passport, visa, i20, offer letter and certificate of deposit (the last two months bank statement).
Step3: The international students do not have more than 40 times the monthly rent of the annual income of the job. New York’s buildings need students to find a guarantee company. The aim is to guarantee that the students can be a smooth move-in. The guarantee company will charge almost an extra month’s fee.The student can find a guarantor in the U.S., who has an annual income of more than 80 times the monthly rent. Also he/she can guarantee for you to avoid this guarantee fee. Secondly, you can consider New Jersey apartments. As long as your i20 tuition in the U.S. is more than 36 times the rent, you can pay monthly. The only thing you need to consider is whether the New Jersey house is suitable for you.
Step4: After the building has reviewed your documents, and the guarantee company has also reviewed your documents. Also, the guarantee company has notified the building that you have applied for a guarantee and paid the premium, the building will officially approve your application. This is the step where the building will send you the official lease.
After you receive the lease from the building, review the important terms and conditions of the lease. The elements such as rent and lease period, the policy of electricity, water, heating and gas (generally the building is free of water, heating and gas). Then, you can directly to e-sign. The signing process will be completed!
Step5: Pay the first month’s rent and one month’s security deposit, also known as a security deposit. Basically, all buildings in New York have changed their rent payment system. They change their policy to a one month security deposit, but some buildings offer a discount on the deposit.
Basic Houses Types for Rent NYC
1. Studio – There is only one room, or the living room and bedroom are not separated. It is a special type of Apartment. It usually consists of a bedroom area, kitchen area, living area and bathroom. Sizes range from 20 to 50 square meters. Ideal for couples or one person.
2. 1B1B – one bedroom with one bathroom
3. 2B1B – two bedroom one bathroom, three people live together, and the three people share one bathroom.
4. 2B2B – namely two bedroom two bathroom, a total of three people living, the master bedroom has a separate bathroom, the second bedroom living room with a bathroom.
Gross price/Net price of rental in NYC
When renting an apartment, the building usually gives two prices. These two prices are Gross Price and Net Price, Gross Price is the original price of the rent. For the new tenants, the building will usually give the tenant a free month or two on thr top of the yearly contract. Therefore, Net Price is the actual monthly discounted price that the building pays after giving one or two free months.
On the Demand for Public Facility
Not every building in New York has an in-unit washer and dryer. Generally the whole building share one laundry room. There are also some students who love fitness also have very high requirements for the gym, many buildings have good fitness equipment, such as their own swimming pools basketball courts, etc. And there are also buildings and well-known gym cooperation, such as sky’s lifetime, mima’s equinox and so on.
The Rental of Houses for Rent NYC
Taking Mahattan as an example:
First, is closer to the subway rent is higher, such as, Ktown, Lexington Ave along, from the university, Union square, Lincoln Center, Time square, Wall street closer to the house rent is higher. Such as, SOHO, Financial Dist. The student who study in Columbia University will choose the house which closer to the campus. In this way, the rental will become higher.
Secondly, apartments with doorman, gym, and washer-dryer in the room have relatively higher rent.
Third, in the same building, the upper floors can see the manhattan view of the house, the sun facing the good house, the rent is relatively high.
In Manhattan’s Midtown and Financial Districts, the average Studio price is around $2,500-$3,500/month. The average price for a one-bedroom apartment is $3,400-$4,400/month. The average price for a two or three bedroom apartment is $4,800 or more.
Houses for Rent NYC Tips
- You can’t live in the United States without having your credit history checked. There are three major credit history companies: Experian (TRW) Equifax (LBI) Transunion (TU). A typical credit report will show your credit score from these three credit bureaus. The credit score requirements for renting an apartment are not too high. A score of 680 or higher is usually acceptable. If you’ve had a credit card for more than six months, and you paid it off on time. You’ll usually be able to get a score above that level.
- In the event that you are unable to provide a valid credit history and proof of income, the landlord needs to make sure that you won’t be unable to pay the rent in the middle of the year, so they will ask you to pay a year’s worth of rent.
- A few key points to look at: room lighting, soundproofing, room type, sanitation, how to pay for water and electricity grids, etc.
FAQ about Houses for Rent NYC
The average rent for a one-bedroom apartment in Manhattan was around $3,000 to $4,000 per month. Brooklyn, Queens, and the Bronx generally had lower average rents than Manhattan. Rental prices can change over time due to market conditions.
Neighborhoods in Brooklyn, Queens, and the Bronx generally have lower rental prices in New York City. Specific areas within these boroughs may offer more affordable housing options. experts familiar with current market conditions.
The studio apartments starting from around $1,500 to $2,500 per month, one-bedroom apartments ranging from $2,000 to $4,000 per month, and two-bedroom apartments ranging from $2,500 to $6,000 or more per month. Luxury or newly developed buildings in popular neighborhoods can have higher rents.
Top Tips for Securing Your Dream House for Rent in NYC
For the students planning to come to New York, a significant challenge…
