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Me & My Team help everyone!
- LOVE PETS!
- People from abroad
- Locals
- Professionals
- Students
- Families
One Day Viewing Model
- Peace of mind
- Open, honest, transparent business model
- 4-15 properties in a day
- Guarantee finding you a home!
- Show best property options for you.
We Will:
- Listen & Answer questions
- Take safety and lifestyle very seriously
- Understand worries/concerns of moving
- Educate you on New York Market
- Work Solely for you/Hold hand
- Full service approach
What You Need To Know:
Lease Start Dates - Elaborated
It is also worth noting that owners like to have leases end during the summer, as that is the time when they can get the highest rent due to the increased volume of clients seeking apartments at that time. I often use this as a negotiating chip with owners.
What Paper Work Will I Need?
TENANTS:
- Completed Application form
- Letter of Employment stating time at the company, position, direct supervisor contact information, and annual salary.
- Prior Year’s Tax Return
- Two most recent pay stubs
- Two most recent bank statements
GUARANTOR:
- Application form
- Letter of Employment stating time at the company, position, direct supervisor contact information, and annual salary. (If self-employed, letter from a CPA verifying prior years earnings).
- Prior Year’s Tax Return
- Two most recent pay stubs
- Two most recent bank statements
Where Do I Begin?
There are all kinds of metrics used in New York to help you understand how much you can afford (i.e. 25% of your annual income, monthly income minus monthly payments multiplied by 30%), but the only thing that matters is that you arrive at a budget with which you’re comfortable. It is important to note and understand that the average apartment hunter in New York ends up spending 20% MORE than the expectations they had when they started their search (reference Broker Heaven)
Rarely does anyone get everything they want in an apartment. It is my belief that if you are getting 60-70% of what you hope for in a rental you are doing quite well. As a result deciding what you really need (be it a doorman, an elevator, or great sunlight) is extremely important to distinguish from what you would simply prefer.
How Important Is My Credit Score?
- Be prepared to pay more than the customary one month rent for a security deposit. In the worst cases, I have seen owners ask for an entire year’s rent upfront, although usually they will only require one or two month’s rent for extra security.
- Offer to pay a slightly higher rent for the available apartment to compensate its owner for the increased risk they are taking by renting the apartment to someone with bad credit.
There are two golden numbers when examining your credit. The first number is 680. If you have a credit score of 680 or higher, your credit is fair or better. With a score of 680, you can usually qualify for small loans with little or no penalty. You will generally be considered a low risk individual and should not have trouble renting an apartment. The second number is 720. If you have a credit score of 720 or above, you are considered an extremely low risk individual. When applying for a mortgage or other loans with this score, you will likely be able to receive the best interest rates available and should have no problem whatsoever renting an apartment.
If you have a bad credit score, it doesn’t mean you can not rent an apartment in New York. Contact me to strategize your application package.
Renting An Apartment During the Summer vs. Winter
What Qualifications Must I Meet?
What's A Guarantor?
What If I Don't Have A Guarantor?
Fee Vs. No Fee Explanation
There are two ways to go about avoiding paying a fee.
One way is for you, the potential tenant, to rent an apartment directly through an owner (there are many websites for that). The other is if an owner offers brokers an OP (owner payment) for an apartment, thereby compensating the broker so they do not need to charge the tenant.
Again, the reason an OP can mean no fee to the tenant is because the broker is being compensated for their work by the owner, not by you.
What Is Rent Stabilization?
If an apartment is rent stabilized, the rent can only be increased between three and five percent per year (depending on the year), unless one of the following occurs:
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- The apartment is renovated. If a rent stabilized apartment is renovated, 1/40th of the total cost of renovation can be added to the apartment’s monthly rent.
(If the rent for an apartment is $1,000 and an owner spends $8,000 renovating the apartment, the owner can add $8,000/40 = $200 to the rent for a new total rent of $1,200.)
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- If there is an MCI (major capitol improvement) to the building, the cost of this improvement can be added to the rent of every apartment located in the rent stabilized building.(The formula for calculating the exact increase is quite complicated, but a basic example is as follows: the owner replaces the roof of a building with 100 apartments at a cost of $20,000. The owner can then increase the rent of each apartment by $20,000/100(apartments) = $200 (per apartment)/12(months) = $16.66 per month rent increase to each apartment in the building. Again, this is a very simplified version of the actual formula.)
If the owner of a building decides to inhabit a rent stabilized apartment themselves for a period of two years or more, when they leave the apartment will no longer be rent stabilized.
Neighborhood Information
Financial District
Tribeca
Soho
Nolita
Lower East Side
East Village
West Village
Greenwich Village
Chelsea
Union Square
Flatiron
Gramercy
Murray Hill
Midtown West
Midtown East
Upper East Side
Upper West Side
Far Upper West Side
Morningside Heights
Harlem
Washington Heights
Inwood
Roosevelt Island
Long Island City
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My experience with Nesli was fantastic. She showed me a number of beautiful apartments in my price range and neighborhood that other brokers simply did not care to show me. Throughout the process, Nesli listened to my needs and incorporated them into her search. She was friendly and made me feel like a friend as much as a client. I give her my highest recommendation.
Nesli is great! She was upfront, honest and very attentative. Sent me places to look at via email everyday and took the time to speak to me about them and show me the ones I wanted to see. It was a pleasure working with her looking for a place. She even has these awesome videos of the places, showing the [whole] place so you are not wasting your time seeing places that you know won’t work. She will definately help you find your new spot in NYC.
Very knowledgeable of NYC housing market and resourceful in finding quality apartments for the requested price range. Definitely recommended to work with her.
Richard Pradas