NYC is home to some of the most prestigious institutes of the United States and attracts thousands of students to seek admission here. Not everyone can stay on the campuses which mean several hundred students out there hunting for economical and affordable apartments. They usually look short term rentals or sublet houses where they can live with roommates.
The major problem remains where to live and how to manage high rents as perks of being in NYC. The good thing to walk away with is NYC is fully capable to accommodate whoever comes to live here.
Give a glance down the article to know how to lease and find an apartment in NYC, being a student:
Two Types of Accommodations for Students:
- In-campus housing
- Off-campus housing
The first option for the majority of the students remains to get accommodation inside the university campus. It gives them the luxury to stay within the department reach and do not have to commute from a far place.
Though education institutes have the facility of accommodation but most of the time, it does not prove enough. Besides, they always have certain criteria to meet and guidelines to follow to qualify for space inside campus. It does not remain possible for many students to get adjusted inside the campus, so they seek housing outside the campus.
Those who do not get to stay inside campus off-campus residence provide an effective solution. You are likely to find an apartment in the city with a little effort. However, the flip side is that there are a few buildings that are designed keeping students in mind while the majority of the buildings for rent to students are the conventional rental buildings.
It poses a challenge for students as rents tend to be high for apartments in the market. On the other hand, if you happen to find one, it would be a treat as you would not find an equally comfortable space on the college campus.
If you can invest some time in hunting for an apartment, you are likely to find your dream space.
Following are some of the best options you may have as a student:
- Look for no-fee Apartments:
Being a student means you would never have enough cash to meet all your expenses let alone extra savings. The idea is to save as much as you can and to materialize the idea, you can exploit a no-fee apartment option. It has two chief advantages. First: you would not have to pay a broker fee which means savings. Second, you may get in direct touch with a landlord which would save you from qualifying certain criteria. In addition to it, you would have more privacy and control in a private residence which usually students do not have in dorms.
If you know the city already and have a shelter till you find your own space, explore the neighborhood, and meet landlords directly. Or else, you may visit and search no fee apartments on dedicated websites.
- Find a Roommate:
Even if you have managed to find a suitable apartment for yourself, chances are you would not be able to pay all the rent by yourself. It becomes even worse if you do not have a part-time job.
The silver bullet is to have a roommate. You may use two channels for it:
It is a kind of arrangement where you co-sign a lease along with your roommate. The chief advantage is that you will not be responsible for the actions of your roommate and will not be held accountable if anything goes wrong with your roommate.
Subletting is slightly different from co-signing as in this type of lease you only sign a lease individually and then sublet a room to a new person. You would have to inform your landlord about subletting and in case anything goes wrong, you will be held responsible for that.
Requirements for Renting:
Being a student, you have to produce documents to claim you are the right fit for renting. Along with an identification card like a driver’s license, you have to give proof of your income and show your credit score as well.
If you face trouble getting approval, get a guarantor who would sign and vouch for you.
Some General Tips:
Act upon the following tips to make your apartment hunting smooth:
- Too much demand attracts scams and people fall for them easily. Keep your senses alert when hunting for apartments and if something feels wrong, it might well be. So listen to your gut feeling.
- The best way to avoid scams is to work with registered real estate firms and licensed brokers. You would never regret your decision.
- Before striking a deal, pay an in-person visit and examine the apartment well. The notice required repairing and functional issues and let your potential landlord know them. There will be no going back if the deal is done so double check all the facilities.
- NYC maintains a database of all the rental buildings to facilitate renters. Invest some time in going through the apartment’s history and see if it is worth living in.
- If you can afford to have, get renter’s insurance. It is likely to keep you protected from any unexpected accidents and unwanted losses.
Note: Landlord’s insurance would not cover your belongings and if you want to protect your belongings, get renter’s insurance.
The Bottom Line:
Exploit this information to find a living space for yourself. While you have it, we wish you a happy stay.
The post How can students find and Manage Rental Apartment in NYC? appeared first on NY Rent Own Sell.