Rentals in Williamsburg>Question Details

Myabby218, Renter in Brooklyn, NY

I'm in williamsburg, brooklyn area looking for a 2 bedroom apartment between 1000-1200 as the owner is selling and I'm stressing

Asked by Myabby218, Brooklyn, NY Mon Jul 18, 2011

drastically, pls help

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Dear Myabby218:

You should have a real estate agent help you. You will have to pay the agent's fee which usually is one months rent and you also have to give the landlord the first months rent and one months security. Hence if you rent for $1200 per month you would need $3600 to get started. In most cases they will want to review your credit report and income. Good luck!

Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
0 votes Thank Flag Link Mon Jul 18, 2011
Rent today; Buy tomorrow. How to convert from Tenant to Homeowner.

When I rented my first apartment in Astoria, I did not want to be a Tenant my whole life and pay my Landlord’s mortgage. I longed to become a Homeowner.

That’s why I found my way into the mortgage business in 1989 and soon afterward became a Homeowner. Here are the fundamentals any Tenant should know to prepare to become a Homeowner in the future, no matter when that might be.

• Credit: Establish 3 credit accounts, no more than 5. Pay your bills on time. Keep your balances to no more than 50% of your credit limit. Don’t pay off the accounts in full. Keep balances active for 12-24 months. All of the above will provide both a good credit score and adequate credit history to qualify for a mortgage loan.

• Assets: A basic savings budget isn’t hard to do. Pay your rent first in your budget; then set aside 10% of your income before taxes . Make it a budget priority and you’ll still have money left over for entertainment and restaurants and clothing.

How much money do you need to buy a home? Many buyers spend no more than $25,000 to buy their first homes. There are loan programs with low down payment requirements and many real estate agents negotiate for their Buyers a “Seller’s concession” to include the Buyer’s closing costs (which are HIGH here in New York!) in the price of the home.

• Income: Two years consistent income is the basic requirement for either a salaried individual or a self-employed person. Income from Bonus, Commission, and Overtime is treated differently and is best discussed with your Mortgage Banker.

• Market Survey: it doesn’t hurt to go out and get to know neighborhoods where you might like to buy a home. Visit open houses on Saturdays and Sundays. It’s okay that you’re not yet buying; tell the Realtor at the Open House you’re just beginning your “survey.” You’ll also get to know market prices for different kinds of homes. It’s okay to “window shop” homes on the weekend at Open Houses!

I hope these fundamentals will help you better understand the path to homeownership is a process that, with preparation and dedication, you can move through easily. And if you’re interested in getting Prequalified today to create an Action Plan for your future of Homeownership, call me anytime!

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
0 votes Thank Flag Link Tue Aug 20, 2013
Hi Myabby218,

What kind of lease you have will dictate whether or not he can legally make you move. But, no matter what kind of lease you have, unless stated otherwise you have the right to stay until the end of the lease. And in the event that you were lucky enough to sign a rent stabilized lease, the new owner must renew your lease. It's the law.

In the event that you do have to leave... I'm afraid with that budget you may be looking in UPPER (way upper) Manhattan. There is nothing that low in Williamsburg.
0 votes Thank Flag Link Wed Sep 5, 2012
I work in this area, I really don't think you can get a rental at that price. It is one of the highest priced rental areas in Brooklyn. In all honesty... I don't see you getting a one bedroom at that price. I deal with alot of apartments and properties in this area, 1200 for a 1BR is almost unheard of.

Luke Constantino
Commercial | Residential
Direct: (212) 300-3919
0 votes Thank Flag Link Mon Aug 13, 2012
Do you have a lease? I don't think he can get rid of you like that. Also if the owner wants you to move I believe he has to pay you at least months of rent. I know people that were given 10,000 to 25,000 to move. Lump sum.
0 votes Thank Flag Link Fri Aug 3, 2012
At least 6 months rent
Flag Fri Aug 3, 2012
Hi Myabby218,
Trulia lists rentals, here is a link to your area,5274,Williamsburg…
0 votes Thank Flag Link Mon Jul 18, 2011
Contact any local realty offices for available rentals, check local print media for by owner rentals, word of mouth, etc.
0 votes Thank Flag Link Mon Jul 18, 2011
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