Some of the biggest mistakes renters make

Having Brokered some of the hottest and best properties NYC has to offer, I’ve run into odd situations when potential renters have amassed bad habits or downright bizarre decisions when renting/ entering their applications.

What you do and say (or don’t say) can have you searching every weekend for a month or more OR can have you snatch a killer place ln no time. Here are some tips that are being needed more and more in todays market.

INCOME
For some reason or another there will be those who will fib about their income, although there are those who will exaggerate their income, there are just as many who UNDERSTATE their income. I’ve heard reasons such as “its untaxed” or my favorite “I don’t want them to know or they might not rent to me”. Guys rest assured with the change in real estate climate there have been an influx of people who used to own who rather rent now. Being a renter is no longer something where you were destitute. There are apartments and properties that would leave you feeling that you has entered a palace.....that was for rent. The more financially sound you are on paper the higher the chance you have to be chosen for the apartment.

SECURITY DEPOSIT/GUARANTORS

It’s almost a rule of thumb that one month is given in advance as security, now here’s where the trouble begins. There are few in between that will not pass the initial application process and may still be taken into consideration with which the prospective tenant is met with a rock and a hard place; pay extra security. Now the reasons may vary, for example for international students moving to NYC, or a college student getting their first place, etc (the list could get long). The final fact is that the property is seeking to rent it to you but at the same time cover their rear windows. Today is NYC especially there are ways such as Insurent (a service that will act as your guarantor) to act as a guarantor. A guarantor can be your parents, guardian, the dog who inherited millions of dollars, or your extra amount of money that you place down as security. In some cases 2-3 months extra. Don’t panic its all refundable.

MOVE IN AND MOVE OUT CONDITION CHECKLISTS

Upon moving in its always best to not only have a checklist to perform what’s called a “walk-thru”, but also to take pictures. Open a new folder in your computer and store your move in pictures there alongside your move in checklist to cover your rear. This will come in handy when and if you move out as a point of reference just in case your landlord attempts to charge for something that they’re not supposed to.

DECISIONS THAT LAST A LIFETIME

Yes, there are amazing and beautiful apartments at every turn, BUT the problem is the minute you walk away from that viewing someone else is walking in within the next 24hrs thinking its amazing too. An area for concern when assisting potential renters is that they become overwhelmed with options and before they’ve realized that charming and elegant apartment we viewed a week ago is now GONE. Yes it happens that fast, in many cases the very same day it rents before you have a chance to view again. My suggestion is when you’re viewing snap a pic or two of the apartment yourself and if you’re not in love when you’ve left then leave it alone but if you are......well then push your broker to submit an application before that clock strikes 12.