Rental Basics in Brooklyn>Question Details

Catie Mattte…, Renter in New York, NY

Myself and two friends are planning on moving to Brooklyn right after or soon after we graduate. We're kind of just looking for information about...

Asked by Catie Mattteucci, New York, NY Wed Mar 26, 2014

Information about what we need to do to prepare for apartment hunting. I mean we've looked into it and we know what we want and we've saved up money. We're just wondering if there are things that we should be prepared for that aren't obvious. Any sort of information would be helpful.

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Be aware that you are competing with every other group of graduates moving to the City. It is high renting season.
You need to get your files complete: Confirmation letters of jobs, check that your credit reports are all good: one bad credit report amongst you will spoil your whole application. Have healthy Bank balances, landlords want to see that you have savings besides paying your rent & security etc. Out of State guarantors are generally not acceptable.
The three of you need to explore neighborhoods together now, and when it comes to viewing apartments you all need to go together to look at apartments. They go fast and no one takes a deposit to hold it waiting for your roommates.
Many landlords will not rent to groups of shares if you all have not seen it, they have all heard that one can speak for all....you are not married to each other.
Also keep in mind that you are all jointly and severally liable for the rent and lease. Thant means that you cannot just pay your share and think you are OK, the landlord will not take partial payments, you will all run into problems. The landlord can go after any one or all of you for the rent etc.

Make sure that the three of you are committed to this. Be prepared to compromise; you will not get three equal sized bedrooms etc. All too often with groups of three there is one leader, one follower and one "freeloader" when I say "freeloader" I am not just talking about the money, I am speaking of the time & effort. They will be the one that complains about everything and be the one that is constantly paying their share etc.

Start early, if you find something good and need to pay a month early, take it. It will be 10% higher for September 1st leases if you do not also get out bid by the year in advance + extra broker fees bidding wars

Landlords are not den mothers.
0 votes Thank Flag Link Fri Mar 28, 2014
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