New York City remains one of the most lucrative rental cities in the world. With small apartments fetching high prices, the desire for valuable rentals has become increasingly competitive. For rental owners, this is good news; however, a fine balance between market rentals reflecting accurate pricing and hiking rent must be achieved. With tips to assist tenants to rent apartment in New York for 3 months, it is easier to find value and to prevent being taken advantage of in tough markets.
As rentals remain highly sought after in New York, the available vacancies are getting smaller. Short term rentals have become increasingly popular as more people visit the city for work purposes, extended vacations and rentals until they can find something more permanent. To rent apartment in New York for 3 months requires careful investigation from the quality of the rental to any hidden costs which may not be specified clearly in the initial advert. Learn how to avoid paying more than what a rental is worth or being scammed by a possible advert.
Find a Real Estate and Rental Agent You Can Rely On
While you will find many reputable rental agents, always do your own investigating. In most cases, an agent may not reveal the total number of vacancies within a building to maintain the upper hand when negotiating terms. If you take the extra step to learn of listed and unlisted vacancies, this provides a greater opportunity to find value.
Determine whether any concessions are included such as a free month of rent, access to modern amenities or saving on the total cost of the broker fee. Always read the fine print before agreeing to signing on the dotted line for your NY rental.
While New York is one of the most popular cities with the highest demand for rentals, it does not exclude the possible risk of scams. Landlords could advertise exorbitant rents for less valuable apartments or vacancies here there are none, making off with your deposit. A highly reputable broker with fair references can help you make better decisions when searching for an apartment to rent in New York for a 3 month period. This is particularly beneficial if you are not familiar with specific neighborhoods and wish to find an area that is budget friendly, close to places of work and public transport. It is important to do your own research when going apartment hunting in NY. This ill protect you from unscrupulous deals and ensure that you receive a short term rental in New York, best suited to your needs and finances.
Not all agents are equal. Going the extra mile to find an agent or broker you can trust, can make all the difference when looking for an effective rental solution.
Get to the Bottom of Concessions
Short term rentals in New York are very popular. For 3 month rentals, many advertisers offer concessions such as a free month of rent unbeknownst to the lessee, they may be paying for the “free rent” in the hiked price of a lower value apartment. The advertised price for 2 months rent is what you would really pay spread across the 3 month period referred to as the net effect. You actually pay an increased gross rent to receive your free month.
Advertised Rent is Not Always What You Will Pay
Hidden terms and conditions or rental costs could appear once you sign the dotted line. To protect yourself against unforeseen financial risk, always read the fine print and be clear on what the conditions offered by the rental agent and landlord mean. This way you can ensure that the value of the rental apartment is reflected in the price and you are not to be held liable for any extra or surprise costs.
Know How to Negotiate in a Tough Climate
The best way to find value when you wish to rent apartment in New York for 3 months, is to learn how to become a tough negotiator. Plan your negotiation skills when you recognize an outdated apartment, or an apartment has been on the market for an extended period. You can also learn the reasons behind higher than average rent for a specific apartment in a single building where similar apartments are priced at a lot less. Learn which apartments you can negotiate rent on as many hot properties will not budge on the price.
Finding the Best Apartment Rentals in New York
When you need an apartment to rent in New York City, do your homework, find a broker you can trust and learn about any extras or concessions offered by the rental agent. New York is one of the most in demand locations for short term rentals. Equipped with the very best strategies, you can secure value and affordability for your needs.