Step-By-Step Renter’s Guide
Step-By-Step Renter’s Guide
1. PREPARATIONSpeak with your Brown Harris Stevens agent about what you require in a home and a neighborhood.
Defining the price range, size of home, and building amenities will give your agent a good starting point for your search, and flexibility in any of these areas will increase your options.
The New York City rental market operates on a monthly cycle, so your home search should not be scheduled any earlier than 4-8 weeks prior to your desired lease start date. Should you visit earlier, it is unlikely that many of the properties with your desired move-in date will be available to be seen.
Please view the “Landlord Requirements” section of this guide for a list of items you should bring with you on your home search.
2. WORKING WITH YOUR BROWN HARRIS STEVENS AGENTThey will guide you to the properties that best fit your parameters. It is imperative that you communicate openly with your agent about your likes and dislikes. This will allow them to help locate your new home in the shortest amount of time.
Your agent will meet you at a pre-determined location to show you properties that match your parameters. The perfect apartment is often found on the first day; however, if it is not, your agent will take the knowledge gained from the first day and apply it to the next day’s search.
The best times to view properties are Monday–Saturday 10am-6pm and Sunday 12pm-6pm. Although Manhattan does not have a traditional MLS, professional members of the Real Estate Board of New York share their listings through the RLS, meaning that one agent has the ability to show you everything on the market.
Before you view properties, you will be asked to sign our Commission Agreement. The signing of this agreement is recommended by the Department of State and protects both you and the agent.
For more information about this, please visit: https://www.dos.ny.gov/cnsl/apthunt.html
3. APPLICATION AND LEASENew York City’s real estate market is vast, but moves fast, so it is best to act immediately once you have found the home you want. If you have prepared the documents listed in the “Landlord Requirements” section, then you are ready for your application process.
The application process varies depending on the landlord. Most frequently you will be asked to complete an application, which together with your letter of employment, previous landlord reference and credit report (run either by your agent or the landlord) will be submitted to the prospective landlord for approval. Upon landlord’s approval, your agent will schedule a lease signing at which you will typically be required to bring your first month’s rent, one month’s security deposit, and any brokerage commission due to Brown Harris Stevens.
Read the lease and any attached riders in their entirety. Your agent can help clarify anything that is not clear to you. Please see the “Co-ops, Condos, Condops, and Townhouses” section of this guide for more information on applications and approval time frames.
4. MOVE-IN DAYYour new landlord will determine how your copy of the lease and keys will be delivered to you. Speak to your agent or building’s superintendent regarding the move-in policies of your building. Routinely a scheduled appointment and a certificate of insurance (COI) from your mover are required.
