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		New York City Apartments More city information: overview | apartments | cars | utilities | airports | public transportation | taxes | newspapers | voting .
	. Overview: New York City is probably one of the toughest cities in the country to get an apartment. It’s crowded and expensive. We’ll make your job a little easier. .
		Brokers:  Brokers are a necessity for the first time. They’ll help you find a place. See page 88 and 89 of our book for more information on brokers. Broker fee: 15% of your first year’s rent. Don’t kill the messenger. Tip on brokers: Don’t let them show you expensive, "no-fee," high-rise apartments. If you get the place, you’ll be legally obligated to pay them a broker fee plus the inflated rent. They’ll try to show you these places first. .
		Looking: Use the on-line editions of The New York Times and the Village Voice. If you wait until Sunday to look at the Sunday ads in the NY Times, you’ll be out of luck. The Voice offers more options south of 14th street.  Tip on looking: The New York Times Sunday classified ads go online Friday at 6pm.  Although the Voice website updates it's listings daily, the bulk of the listings are updated Mondays around 1pm.  Get a head start before the Voice paper comes out on Tuesdays. .
		Locations: Popular areas for young people include the Village, Upper East Side, Upper West Side, Chelsea, and Murray Hill. Outside of Manhattan (read: "cheaper") try New Jersey (Hoboken), Brooklyn (Brooklyn Heights, Park Slope), or Queens (Astoria). .
		Prices: NYC rents vary dramatically based on location (proximity to the subway), walk-up (stairs) vs. elevator, and doorman (good for security and deliveries) vs. non-doorman buildings. Sample prices:  Prices vary dramatically, but these are ranges from Manhattan.  The other boroughs are less expensive. Studios:  $800 - $2200 1 bedroom:  $1400 - $2400 2 bedroom:  $2000 - $3600 Rent stabilized:  If you’re lucky enough to find a building that is "rent-stabilized," you are legally protected from rent rising too much each year. If you find a rent-stabilized apartment, make sure a Rent Stabilization Lease Rider is attached to your lease. You don’t want your landlord to play the "Nuh-uh" game. .
		Closing the deal: You’ll need your first month’s rent, security deposit (one month), plus your broker’s fee (15%) in a cashier’s check or money order before you can get a place. It’s also likely that you’ll need: -- proof of wages (you may need proof that you earn 40x your monthly rent -- $40,000/year if your rent is $1000), -- reference letters (See page 90 of our book for a sample), -- copy of recent bank statement, -- copies of past two tax returns, -- guarantor (co-signor) information, -- DNA tests (you roll your eyes now, but...) If you don’t make 40x your monthly rent, you’ll likely need a guarantor agreeing to pay your rent if you’re broke. Many landlords require this guarantor to live in the "tri-state area" (New York, Connecticut, or New Jersey).
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