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Joseph Runfo…, Real Estate Pro in Staten Island, NY

Is it customary to require prospective tenants to submit an offer to rent for a Manhattan apartment?

Asked by Joseph Runfola, Staten Island, NY Sun Jun 10, 2012

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No, they submit the application that the listing agent gives them, with the fee for the application, a signed credit check form with fee and any other documents asked for with the application. First applicaiton in gets it, providing they are qualified.
1 vote Thank Flag Link Sun Jun 10, 2012
I've never had that experience for a rental in Manhattan. No offers, especially at the height of the rental season. The landlord will just take the next person waving money in the air yelling..."I'll take it!"

Jenet pretty much put's it all into perspective. It is important to have any and all fees (not the broker fee until signing the lease) to go in with the application and many landlords want Bank checks though some will take personal checks. In the NYC rental world you have to get the application in for first consideration. If you're not first in NYC, you're last.
0 votes Thank Flag Link Mon Jun 11, 2012
Usually the asking rent is not negotiable. If the apartment is to long on the market is possible to submit an offer but if you are denied, you lose the apartment. If you are working with a broker, the broker knows if is that possible or not in your specific situation.
0 votes Thank Flag Link Sun Jun 10, 2012
At current market conditions the asking price in most cases in non-negotiable and owners are not open to negotiate it - apartments rent at asking price or very close to it. When there is a room to negotiate - the owners would say it to brokers. You can always ask and see what they say - in my experience they would agree to decrease the rent to $25-50. However a formal offer is not part of the standard rental application package and the rental amount (asking or the one your client wants to negotiate) should be stated in the application.
0 votes Thank Flag Link Sun Jun 10, 2012
It is all depend on the owner. I do know situations when it happened, but it is exceptional. Normal procedure is first complete application is approved, providing they qualified.
0 votes Thank Flag Link Sun Jun 10, 2012
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