Rentals in New York>Question Details

JD Davis, Renter in New York, NY

My rental lease will expire in 4 months on 7/31/12, Is that too soon to start looking?

Asked by JD Davis, New York, NY Fri Mar 16, 2012

0 votes Share Flag Rentals in New York

Help the community by answering this question:

Answers

14
My suggestion should be to start looking around end of June
1 vote Thank Flag Link Fri Mar 16, 2012
It is definitely not too soon. While you may find places now that will be unavailable in four months, you will still be more knowledgable about what is out there and what you like. So, when you are ready to pull the trigger on a place you will be more confident and comfortable with your decision.
1 vote Thank Flag Link Fri Mar 16, 2012
What is "out there " now wont be in 4 months, its that simple.
Flag Sat Mar 17, 2012
If you are looking to find another place to rent, it may be too soon, though some owners/managers provide their future vacancy information in advance to brokers. There will be more options about 6-4 weeks in advance. You should keep in mind that you should have all your relevant documents ready to apply because good apartments rent really fast - Manhattan is the fastest moving rental market in the World.
1 vote Thank Flag Link Fri Mar 16, 2012
It doesn't hurt to look around and get a feel for the current prices and what's available.

The problem may be if you find something that is perfect, how will you feel if you cannot take it and it is off the marketing in July.
1 vote Thank Flag Link Fri Mar 16, 2012
Its Never too soon! You should always start to look around and have back up plans
1 vote Thank Flag Link Fri Mar 16, 2012
Really? Maybe in Birmingham apartments sit around on the market forever, but not in New York City.
Flag Sat Mar 17, 2012
As of right now, I have come across four 8/1 occupancy dates.
The ads you find online are all usually going to be immediate vacancies or June 1 at the latest.

It's never too early, the trick is...

A: Only look at properties that are offered for the date range you need (7/15-8/1)
B: Don't think assume you have plenty of time and more options will be available later.

The rental inventory is slim and the prices will go up.
I speak from experience of seeing it happen every year. There are more people looking from April to August in NYC than anywhere else in the world.

More demand and less supply (Vacancy at less than .69%) equals higher rents through the rest of the year.

For you I pray you have education on market realities and experience on your side as you move forward.

Onwards and upwards!

Best regards,
RS
917.423.5004
0 votes Thank Flag Link Wed Apr 25, 2012
If you started to look now, what would be the point? Nobody on the island of Manhattan will hold an apartment for you. If you see something that you fall in love with and didn't make a move on it, you most likely won't find something quite the same.

Start you search online if you want to get a "feel" for pricing and neighborhoods. If you can key in on a specific area but have some flexibility, you'll do well when it is time to rent. I would highly suggest you use a broker. I also suggest you get your paperwork together NOW! I do agree with Miriam for you to start your search with a broker at the end of June. Good luck.
0 votes Thank Flag Link Fri Mar 16, 2012
You could start looking at the different neighborhoods to get a feel for the area you want to move to but it is a little too early to look at individual apartments. Then again you might find something that will be available in a few months. It never hurts to be organized.
0 votes Thank Flag Link Fri Mar 16, 2012
In today's market you may be able to find a good deal, close in 30 days with a rent back to seller for 60 days allowing them to find a new place. 2 weeks to clean/paint/etc 2 weeks to move.
Hmmm??? 4 months can fly by. Get started!

If you need a referral to a local Realtor request one at http://www.grapevinereferrals.com
0 votes Thank Flag Link Fri Mar 16, 2012
Based on my experience, I would say start looking 4 to 6 weeks prior to the end of your lease. These days there are not many apartments in the market for August... Yet. Have in mind that any unit you see today, won't be in the market by August and I cannot imagine any landlord holding an empty one if they can make make rent on it!

What I can also suggest you is that when you start your search, have your paperwork ready and if you see a property you like, be decisive because maybe by the time to make up your mind, it's already rented.

If you decide to work with a Real Estate agent, feel free to contact me!

Best,

Laura Thierer
Licensed Real Estate Salesperson
Ardor NY
c: 914-426-0075
o: 212-588-3000
lthierer@ardrny.com
0 votes Thank Flag Link Fri Mar 16, 2012
Most landlords won't hold a property open for that long waiting for you. It is a good time to start conducting a wide search, checking out possible areas, seeing what the rental market is charging in various areas. With that much time you may discover an area that you hadn't previously considered. If you do your research slowly and thourougly when the time comes you will know a great deal when you see it and be ready to pounce, good rentals go very quickly.
0 votes Thank Flag Link Fri Mar 16, 2012
It's never too soon to start looking! It will certainly give you an idea of the neighborhood you want to live in, specific buildings that you like, what you can expect to get out of the rent that you pay. Like others have said, you probably won't find too many places that will allow you to sign a lease yet, but you will be very prepared at the beginning of July. What I notice the most is that people don't really know what they want at first, so they aren't ready to jump at something they like out of fear they might find something better. If you spend the next few months deciding what you like, and seeing price comparisons, you'll be in a great position.

You can also start to pull together your supporting documents: reference letters from previous landlords and people you work with, tax information, financials, employment verification, basically anything that shows you are a good tenant. Best of luck in your apartment hunt!
0 votes Thank Flag Link Fri Mar 16, 2012
It is good to start looking early. This way you can have a choice without feeling pressured to make a quick decision. Please contact me at 917-335-8569 for assistance. My name is Erika. Thank you and good luck!
0 votes Thank Flag Link Fri Mar 16, 2012
For a rental yes, for a condo sale no, just on time, and for a co-op, you might be too late. If you are asking a rental question, please bear in mind that the vacancy rate is less than 1%, the lowest in the country. Landlords are not willing to wait more than a couple weeks for you to sign a lease and take possession of the unit. Therefore, for a rental you probably need to wait until the 1st of July.

If that is a sale question, then give me a call!

Kelly Killian
Vice President
Bond New York
954-675-9915
0 votes Thank Flag Link Fri Mar 16, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer