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FAQ
Q. Why do I need a broker to rent/sell/buy an apartment?
A. The Real Estate in New York is unlike any other different places, it is very competitive and the apartments get rented/sold very fast, you will save time by using one. 95% of the Real Estate transactions are made through a broker.
The broker will bring you seriousness, efficiency and choice. He will use all his connections, his network and his knowledge to help you find what you are looking for.
He will take the burden off, so that you can enjoy plentifully the search for your home.
He will help you go through the process of the application, of the preparation of the package to rent or buy, and help you get ready to eventually be interviewed by the board of the building. This process has to be done professionaly or you might be turned down, even though you were qualified and wanted this apartment.
Q. What do I need to rent a furnished apartment?
A. Renting a furnished apartment is probably the easiest way to get an apartment. Due to the kind of business it is (short term), landlord and management companies are more lenient.
A lot of customers in furnished rentals are from abroad, so the owners work in that way. Landlord are more flexible due to the fact as well that no credit check can be done on foreign people, they cannot provide any kind of bank statements, employer letters and so on because of the difference of language.
One or two months security deposit, and the broker fee.
You may have to go through a board approuval.
Q. What do I need to rent an unfurnished apartment?
A. Renting an unfurnished apartment can be very difficult. These are the differents things you will need, or will be asked to match. Although again, it will depend on who you are dealing with:
1. Salary must be 35-40 times the rent, however if you need a guarantor, this same guarantor might need to earn 70 times the rent.
2. Credit check history.
3. References of the current or previous lanlord. You may have to provide more than the last one, if you lived there less than two years.
4. Last paystubs.
5. Employer letter with annual income.
6. Bank statements with account numbers.
7. Pay one month or more as a security deposit, as well as the first month rent.
8. The broker fee.
9. You may have to go through a board approuval, usually for coop only.
Q. What do I have to pay to rent an apartment?
A. You have to pay a security deposit.
You also have to pay the broker fee.
You also may have to pay a credit check history, the fee can be up to $100. This is usually required for unfurnished apartment, but can be done upon request from the owner of the apartment you wish to rent.
Depending on the kind of building you are looking at, you may have to pay a board approuval as well. The cost will depend on the building. To give you an idea, it can be between $150 to $1000, it is more common though to pay around $350.
Q. What is the security deposit?
A. A Security deposit is an amount of money that the owner requires as insurance in case of damage to the apartment. This money will be cashed in by the owner, but is fully refundable when you leave, if you leave the apartment in the same state as you found it.
The security deposit should be paid right after your departure, but in some case can be used to pay the last bills of the utilities. If this happens, you should get the remains of the security deposit before one month.
Q. What is the broker fee?
A. The broker fee is the amount of money that the broker charges you for having provided you his help and all the services of apartments searching. You will not be charged if you do not take any apartments that he brought you.
Q. Are the utilities included in the price rent?
A. It depends on the apartment, some apartments does include the utilities, some part of it, and the others does not. The utilities when they are included, are usually for furnished apartments. The utilities are being paid upon showing of the bills by the owner, or the person's name on the bill of the apartment you are renting.
Q. Are all your apartments, also called "listings", advertised or "listed"on your website?
A. No, all the apartments are not all on the website.
It might be because of similar units are already in the database. It is also very time consuming to keep everything updated all the time, and to add new apartments. Go take pictures of the apartments, gather all the appropriate information of the apartments, then validate them before adding them in the database.
We also share apartments with other real estate agencies, brokers or management companies. This represente furnished and unfurnished apartments together, over 1000 rental buildings with over 10,000 apartments.
What is why in addition to the online apartment search tool, we give you the opportunity to contact us directly, by any means possible (email, phone, fax, office), and to ask us to find you the apartment that will match your needs or desires, something you can call home.
Q. Are all your listings up to date?
A. We are trying our best to keep the website updated with all the apartments possible.
Q. Do you have exclusive listings?
A.Yes we have apartments that you will not find anywhere else. Owners trust us, this is a good criteria for you too. If owners trust us, why would not you.
Q. Can I see the apartment(s) before renting?
A. At anytime, after having checked that the apartment(s) was right for you, and available for your dates, one of the agents will be very happy to show you the apartment(s).
Q. Do you provide housing to anybody?
A. We do provide housing for anybody, however we do not paticipate in any kind of goverment housing, section 8 for instance.
Q. Do you provide handhold service?
A. We do provide full handhold service to your executives. This service may be charged separately, however in some case it could be deductable from the final broker fee if you take the apartment.
Q. What about my credit history?
A. We do a credit check history mostly for unfurnished apartments, because they are long term rental. We can also run the credit history on furnished apartments, it will usually be upon request of the owner. There is a charge to run it, that is charged to the propective tenant.
If you have a bad credit, the owner may not accept to rent you the apartment. If you pay all the rents upfront, or if you have a guarantor, the owner might accept to rent it. The guarantor will then be asked to pay your rent if you fail to do so.
QA. Other information, question, or if you wish to see more faq on this page, do not hesitate to fill out the following form in order to do so.
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