There is no such thing as starting too early........by beginning the process sooner than later, you will have an opportunity to get an accurate feel for yourself of the true rental market, availability, locations, and price range.
Because you are looking doesn't mean you have to commit now. We see a definite advantage of starting early and collecting information so that when the time is right for you....you will be ready for the time.....
Hope this is helpful.
646 593 7207
Apartments that are available now will most likely not be available in August-so don't waste your valuable time searching now. I suggest you start in May or June. the summer rush is when it is busiest for rentals.
Barry A. Herbst
While I normally don't agree with advice from out of town agents, Bill hit the nail on the head.
It is never too early to make a connection with a real estate agent here in NYC. With vacancy rates below 1% even in this traditionally "slow" rental season, you can only expect things to be tight and quite competitive come June for your August start date.
I have started seeing one or two listings for June already and again, as Bill said, education is key. Sometimes getting educated early can help you to commit when the time comes.
You can also wait until June, get thrown into the feeding frenzy that is NYC rentals and have a hair-pin trigger finger. Everyone's decision making process is different, but that's my two cents.
While I may not write as much lately, I have wrote about the supply and demand here, back in December of 2006 for reference in the link below.
HHH=Happy Home Hunting
The only thing I'd add is that if you've targeted a specific building or a very specific area, there are techniques for doing it earlier. If you're dealing with a large management company, it might make sense (if supply is limited) to express your interest earlier. And if you're dealing with an individual, here's a tip: Have a Realtor look through properties that rented in August 2011 and August 2010. Those leases are coming due, and some people will decide not to renew. You then contact the owner with a message something like: "Hello. I understand that you have a rental unit at [address] and that there's a possibility that it may be available in August. If so, I'd like to express my interest in possibly renting your unit." That sort of letter might put you at the front of the line, so to speak.
Hope that helps.
If you are looking to start your rent in August, consider starting your search by the end of June. Have in mind that summer time is "high season" for rentals. It would be a good idea to have your financial information and paperwork ready by that time. Many landlords require the following: income 40x the rent, an employment letter, in case you need a guarantor with an income 80x/100x the rent, good credit record, most recent W2 form, first 2 pages of most recent tax return and most recent bank statement.
I've worked with out of town clients before, so in case you decide to work with a real estate agent, feel free to contact me.
Good luck with your home search!
Licensed Real Estate Salesperson
If you are planning on moving to New York City you should first speak with an agent so that you have all of your paper work in order. Renting in New York is not like anywhere else in the world. You need to be employed for at least one year and make 40x the monthly rent., if not you will need a guarantor that makes 80x the rent. Often times this person needs to live in New York as well, if not you are limited as to where you will get approved.
For an August move, June is a good time to start looking. Any earlier and you won't be able to find Aug !st move ins.
Please feel free to call or email me with any questions you might have.
Best of luck,
Bond New York
June is a safe bet to start your search for a rental. Many of the major landlords put apartments on he market once they are empty and ready for a quick turnaround to a new tenant. With a clear set of parameters and all your paper work inorder you may secure your next home in as little as a week to two weeks. Should you decide on an apartment that requires a sublet in a coop or condo the process may be as long as 8 weeks before you have the apartment.
Before starting this search consider making sure all you paper is inordered and you know what your credit report is.
Please call 212 381-2343 or email DCordell-Reeh@halstead.com should you like assistance. In rentals thetenant usual pays the brokers fee.
If you are looking in NYC for an August 1st Lease...you should begin your search the last week of JUNE.
If you should need further assistance, feel free to email or call...
Christopher Stokes Moseley
Senior Executive Vice President
Licensed Real Estate Associate Broker
212-203-8722 mobile office