How long it will take you to rent is a function of how energized you are to go looking and how organized you are with all your necessary paperwork. And there is lots of paperwork you should have prepared in advanced. I highly recommend the excellent, and free, renter's guide; The Essential Guide for Smart Renters, which can be found here: http://www.rentdirectnewyork.com/rentingguide/Welcome.html .
Good luck in your apartment search!
That said, you have to be realistic in terms of price/expectations. Obviously, you won't get a penthouse in Chelsea for $1,500. You may be better off looking in Brooklyn unless you are ready to go further up to northern manhattan.
Also, you may need to prepay a year lease because the requirement for a tenant is to show income of 40x rent and for guarantor 80x rent, so if you are looking at $1,500/month, guarantor needs to be making $120,000.
Let me know if you have any other questions! ;))
Depending on your criteria and your wants and needs it can take you anywhere from 2 days to 4 weeks. Finding an apartment in NYC is very fast pasted and you need to be ready with all your documentation and most importantly work with an agent who specializes in rentals. The rental market is very demanding and you are competing with multiple renter so you will need to work with someone who is professional and aggressive in finding you an apartment and presenting your file to the appropriate parties. I actually rented 2 apartments yesterday in 1 day since I have a very unique system for finding apartments for tenants. As for being a college student, where is your income from paying the apartment coming from? If you would like to work with me please feel free to give me a call when you have some time.
Exit Realty Search
Licensed Real Estate Salesperson
3928 E. Tremont Avenue
FAX: Â Â 347-202-4966
"FIRST TIME HOME BUYERS"
It's a little difficult to find a good 1 BR in good condition and in a good location for that price in Manhattan but if you are willing to explore opportunities, I will be glad to help you search for affordable apartments in the city.
This is why you need to prepare:
1) Letter of Employment including salary and time there. (company letterhead signed by supervisor)
2) 3 most recent pay stubs (as proof of stable income)
3) Most recent bank statement(s) showing balance(s) (as proof of cash flow)
4) Enlarged copy of photo ID. (could be a Driver License, Passport, Green Card, etc.)
5) Rental Application (Ardor or Management Company)
6) Processing Fee (Payable to Ardor or Management Company)
7) Most recent Tax Return (first 2 pages including the name of your Income Tax Professional)
8) Most recent W2 Statement (as proof of your annual income and employer)
9) Personal and Business References (as proof of integrity, responsibility and reliability)
Please keep in mind that the standard for required yearly income of an applicant is 40 times the monthly rent and an acceptable credit score, otherwise you may need a guarantor or more than 1 month deposit.
Your mother can lease the apartment to simplify everything otherwise you need to proof that you are making 40 times the rent or present a co-signer that will make 80 times the rent.
You also need to prepare the following:
1 month rent + 1 month security + 1 month broker's fee = 3 months (there may a possibility that you don't have to pay the broker's fee if the landlord is paying for that for changes are that the rent will be higher and the security deposit too.
I can help you find a decent apartment in a good location that will allow cats for around $1500 in Manhattan in a week or two. The best time to start looking for a new apartment is at least 1 month before the expiration of the lease. We recommend two months if you are very selective about your choices.
If you have any questions or are ready to start searching for an apartment, please contact me by phone, e-mail o text message.
Note: Please check my real time listing on Trulia.com or ardorny.com