Renting in New York | Entire Process & FAQs
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Күн бұрынOur Guest→ Nina Shepherd, NYC Real Estate Professional
Web: www.compass.com/agents/nina-s...
Insta: / realestatewithnina
Email: nina.shepherd@compass.com
Moving to New York? Need to understand the process of renting an apartment in New York City? How about the apartment paperwork needed? What about being international, having pets, using a city voucher, or understanding rent stabilized apartments? We gathered the most common questions and answered them in this video.
00:00 Intro
00:34 The Process
00:45 Budget for renting in NYC
02:32 Determine location/Search for an apartment
06:18 Viewing the apartment
06:51 Applying for the apartment
07:26 Why pay for a broker in NYC?
08:45 Getting denied for an apartment in NYC
09:50 NYC apartment paperwork
11:02 International / International students
11:50 Using a city voucher
12:26 Fee and No Fee apartments
13:04 Pet Fees in New York
13:40 Rent Stabilized Apartments
16:16 Negotiating for an NYC Apartment
17:19 Best tip for finding a NYC Apartment
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@LARKXHIN Жыл бұрын
You can pay someone to be your guarantor. Phew our country has some issues. I'm already radicalized about housing for all in the first 2 minutes.
@JimAllen-Persona Жыл бұрын
It’s not all that surprising. If you buy a house and put down less than 20%, you typically got hit with PMI (Private Mortgage Insurance). I’m not sure if that’s still the case.. a lot has changed in 26 years.
@BernellJonesII Жыл бұрын
Right
@jcnot9712 8 ай бұрын
And also the part where they have to make 80x the rent, which is 6 figures or more for 90% of apartments out there. It’s basically a way to keep rich kids housed and no one else.
@sfellows68 Жыл бұрын
That was very interesting. I got a little anxiety just listening to it and I'm not even planning on moving to NYC. :) Great video!
@BernellJonesII Жыл бұрын
I live in an apartment in NYC, it’s not the best but I can call it home. The process to get an apartment in NYC is such bullshit that instead of finding a new apartment ima just stay in mine and deal with the stuff I don’t like. What kills me is how everyone, especially realtors talk about the process as if it isn’t insane. I definitely got lucky with my apartment
@mood4eva98 Жыл бұрын
I'm soo glad you uploaded this video it still doesn't change the fact it's nearly impossible to be lucky to get the best deal but at least more people can be aware and prepared
@soundsofwaterfall Жыл бұрын
What a great video, thanks for posting this!
@dulljumbo4321 Жыл бұрын
as a person who will never live in ny, this video rocks
@Aidan_Au Жыл бұрын
Thanks Thea for make a video about renting in New York City!
@zacharytharpe4942 Жыл бұрын
I'm actually in the city this week looking for apartments. This video and all of your videos have been instrumental in assisting my move to the big apple :)
@ccfromnj Жыл бұрын
Thank you for this! Looking forward to a Co-op video soon.
@John_DaMan Жыл бұрын
love your channel, keep going
@jessicaarguelles4979 Жыл бұрын
Very informative for people that are considering to move. Thank you.
@Alejandro-lv9bs Жыл бұрын
Great content and wise information
@nyc_shots Жыл бұрын
Very insightful video
@robina3699 10 ай бұрын
very helpful!
@simoiyahector-morales9521 11 ай бұрын
The cute dog got me mesmerized during this video I forgot it was about renting in nyc
@elizabethshelborne6139 7 ай бұрын
Thank you for this video and going step by step through the process of renting in NY. I would love to see a video on condo's.
@landocalrisian2014 Жыл бұрын
Grumble is tooo cuuuuuute 🥰🥰🥰
@Lizzztings 3 ай бұрын
Coops! You are great
@foyevision Жыл бұрын
Great video! There was a lot of great info. I'd like to see a video about co-ops.
@kevinb8881 Жыл бұрын
Tenant's salary= NYC rent×40, unbelievable!!!🙄
@gackt987 Жыл бұрын
Would appreciate it if you can make a video on what buying a property in NY would be like. Thank you!
@umamaheshwar1779 Жыл бұрын
Please make a video on best commuter towns near nyc like jersey City
@Jazzmin554 5 ай бұрын
Great video ❤ Renting an apartment can be really stressful especially getting bank statements and paystubs I had to pay a vendor online lol
@Johnnydoggs3 4 ай бұрын
Really?? Who the vendor pls ?
@Jazzmin554 3 ай бұрын
Deels cafe
@Jazzmin554 3 ай бұрын
He on instagram
@torontolistener5507 Жыл бұрын
Lots of great info here, well done!
@100Stratusfiedx Жыл бұрын
Very informative. What would you do in situations like apprenticeships and programs that only last a semester ? You only intend to live in the city for a few months ? Can you do short term leases.
@UrbanCaffeine Жыл бұрын
Sometimes there are 3 or 6 month leases available. Or you can sublet.
@phantastik3389 Жыл бұрын
You don't always need to make 40x rent, well at least in my case when I was living in NYC. But you would need to show proof that you can afford the rent. Like 2 recent paystubs, or have a bank account that shows proof you have money coming in lol. It was like that for me.
@kevinb8881 Жыл бұрын
That's still standard!!
@elhemelhem6533 4 ай бұрын
Is the security deposit is always the same amount of the monthly pay of rent ? I would appreciate an answer. Thank you
@UrbanCaffeine 4 ай бұрын
Not always. It depends on the landlord.
@user-iu5vv4bu6h 5 ай бұрын
what i want to know is why credit score, when you have a job and letter showing how much you will b emaking a year?
@luisreviews6412 Жыл бұрын
Not in the market to rent but this will blow up your channel & her business from a content standpoint. 🔥🔥🔥
@frednich9603 Жыл бұрын
I'm so glad my 4 bedroom house is paid in full. That effects my life in so many ways.
@imogendedo8296 Жыл бұрын
You mean affect
@frednich9603 Жыл бұрын
@@imogendedo8296 yeah I guess you're right
@TomHoffman-uw7pf 11 ай бұрын
@@imogendedo8296 You must be very envious of fred so you get back at him by nitpicking his spelling and grammar. But I'd be envious too.
@albertl2542 Жыл бұрын
renting costs an arm and a leg and landlords call us disposable people
@I.____.....__...__ 10 ай бұрын
- 2:11 That's just the excuse they made to make it illegal to pay rent in advance; the real reason is to prevent people from paying it at the current rent so they can keep raising the rent every month. 😒 - 17:34 You go to a club often enough that you need to find a place near it because it's your most-traveled-to place? 🤨
@hanlee3093 Жыл бұрын
1 month rent or 15% of annual rent for agent's fee sounds ridiculous high. Are there brokers who would charge you on an hourly basis or how feasible would it be to find a place on your own? Thanks for the video!
@bkburnaz Жыл бұрын
It's a rip off the landlord suppose to pay them a commission if they charge you 15% of the yearly dont do it. I'm speaking from personal experience a broker tried this with me went to another broker for the same apt and that broker got me a meeting with the building owner with no charge because the broker fee is for the landlord to pay
@DMaC02121 Жыл бұрын
Broker's are useless and a waste of money for renter's. NYC needs to pass a law that makes it mandatory for the Landlord to cover the Broker fee instead of the prospective tenant unless the tenant hires the broker directly. Finding a place in NYC that meets your needs is hard but not impossible. If you're diligent, start early, and dedicate a couple hours a day to research and scheduling outreach etc. You can find something within a few weeks.
@hanlee3093 Жыл бұрын
@@DMaC02121 If one is local and have the time, I can see how it won't become a huge hassle. For someone looking to move to NYC from another part of the country or even other countries, it sounds like it would be more difficult.
@DMaC02121 Жыл бұрын
@@hanlee3093 I moved to Brooklyn last year from another state (not another country so I get it), but yes it’s a lot harder when you don’t have the luxury of being able to walk around in prospective places.
@hanlee3093 Жыл бұрын
@@DMaC02121 Thanks. Do you think it would be doable to find a place if I were to travel to NYC for a week to 10 days?
@6kidsand8cupsofcoffee 6 ай бұрын
I would never attempt to look for an apartment in NY without a real eastate agent.
@cicchiamichael Жыл бұрын
👏🏼👏🏼👏🏼👏🏼👏🏼👍
@ghus2046 Жыл бұрын
How can you move to NYC without gentrifying it?
@m1sardar780 8 ай бұрын
Im so confused on who to trust
@mikediggsv2 Жыл бұрын
Good luck $1800 for a two bed room is crazy
@jcnot9712 8 ай бұрын
The “underrated” neighborhoods is just a list of places that are getting gentrified lol
@jcnot9712 8 ай бұрын
This just feels like a long advertisement for her. Why not mention housingconnect or any other affordable options? Specially if you’re looking in the longterm. If you’re wealthy/well-connected enough to go for any of the options she talked about, I can’t imagine you’d need a KZfaq video to tell you where to go.
@benjaminclinton4319 8 ай бұрын
80x the rent is insanity
@imogendedo8296 Жыл бұрын
Nice gentrifiers guide.
@imogendedo8296 Жыл бұрын
Alsonthis so called real estate agebt calling astoria and luc underrated, lets you know she doesnt know shit
@eltronics Жыл бұрын
Wow, NYC doesn't make it easy. Your "convenience" of living within the city for work and play, really isn't convenient (or price-wise). Coincidently, a study was report today (6/19/2023) stating someone making $250K, living generally in NYC, has an effective wage of about $80! You really got to analyze if it really is worth it.
@drchickensalad Жыл бұрын
You can literally buy an 800 sqft bedroom in Greenwich village with 250k income. Comfortable max price of 950k depending on maintenance fee
@eltronics Жыл бұрын
@@drchickensalad That's absurd!
@drchickensalad Жыл бұрын
@@eltronics multiple of us have done it. Standard instant approve mortgage. Expenses don't scale linearly as income goes up; everything costs the same except housing, so you can spend more on it and you still end up saving way more. 1 mil purchase 25% down = 750k mortgage, current jumbo rate is at most 6% (jumbo loans are cheaper rn than Fannie Freddie, it's complicated), so that's 4500/month, which is super shy of your budget of 250,000*.36)/12=7500/month (stander banker 36% calculation), so lots of room for maintenance and savings
@eltronics Жыл бұрын
@@drchickensalad I applaud anyone that can afford that and eat, let alone socializing on top of that. I hope there is no car and insurance involved.
@drchickensalad Жыл бұрын
@@eltronics it's automatically approved by all banks as a standard. You got so much money left to eat and save. And obviously there's no car you're in Greenwich village it's pointless
@jcnot9712 8 ай бұрын
“Let’s say the rent’s $1000/month.” So what is it, a doghouse? 😂
@maximusfame537 Жыл бұрын
NYC is not worth it anymore, NYC was very cool back in the days now rent is ridiculously high, cost of living ,ETC, I wanna move to the suburbs with a quiet town and no traffic and no alternate side parking.
@Anonymous-wr1mh 10 ай бұрын
I have nothing against dogs, I think dogs are great but I do believe that this interview would have gone much better without the dog present since it was very distracting.
@darius2640 Жыл бұрын
renting is so stupid, you pay huge money for years but you're just a guest and one day you still walk out empty handed, all that money went to waste. I'd rather live with my parents until 40 if that's what it takes but save up and buy my own home, you pay up once and you own it forever, do what you want with it
@1000rocket Жыл бұрын
I get it, but people want the freedom or live their dreams in NYC, and they don't have the funds, credit, etc. to get a house, condo, etc. Everyone has different priorities in life
@Mlogan11 Жыл бұрын
1) Living with your parents until 40 is an option only if your parents agree, and you're willing to deal with the lack of privacy for that long. 2) NYC is hugely expensive so unless you have a great job, you still may not be able to save enough by 40 to buy a home. 3) If you own a home, you will still pay yearly property tax. Sure, it's much less than rent, but you will never be bill fee.
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