Apartments for Cheap

Questions and Answers

Your Questions About Apt For Rent In Nyc

May 27, 2012

Lizzie asks…

what is the typcially broker fee for an apt in NYC?

i am looking for 1bdrm in queens and finding only broker fee. If my max rent is 1100, what am i looking to spend on the fee.

Administrator answers:

It will be around one month. Check Craigslist. There are some aprtments listed with no broker fee. You just need to specify that in search criteria. Just been through all that. One of the brokers wanted to show me an aprtment advertised by its owner in the paper and charge me a fee for it. You need to ask if there kisting is exlusive or not. Best of luck

Betty asks…

Is there any limit for rate control rental apt .in NYC?

Hi everyone,
I rented a rate control Apt. in NYC for $1700 a few years ago, now after years the rent reached $1975. I heard that when the rent passes $2000 limit, the Apt. would not be rate control and the landlord can jack up the rent as much as he want. Is that true? Could you provide me with more info? I thank everyone.
Anne

Administrator answers:

Check with the nyc housing authority–what they tell you will be more valid than what someone here may say.

Robert asks…

Is there anywhere in the US that has rent control besides NYC?

Getting closer to retirement, and starting to think of options. 1) Condos make sense, except that I don’t like the risk of special assessments, condo fees that aren’t within my own control, or condo associations that tell everyone what to do. 2) Small house makes sense, but I don’t like the idea of yardwork and other exterior upkeep. 3) Apt. makes sense, but I worry about a landlord raising the rent frequently. If I’m going to personalize the apt. with carpeting upgrades, etc., I’d like to be sure that my improvements won’t result in a big rent increase and that I will be guaranteed renewals.

Just starting the long planning process! Thanks for the information.

Administrator answers:

Buy a copy of “Every tenant’s legal guide”. It lists major cities with rent control, and gives references to source materials. All or most are in California, New York, New Jersey, and Maryland. Smaller towns in urban areas have rent control too; some have their town codes or ordinances online.

In many states, tenant rights handbooks have been published by their Legal Services or Legal Aid, tenant organizations, or state Attorney General offices or Consumer Affairs departments. Many are online. Get them, read them.

And, of course, feel welcome to ask questions here.

Steven asks…

Renting income requirements in NYC Manhattan apt?

I have been checking out apts in Manhattan and find sayings like ” Income requirements: 45 x rent single or combined for tenants.” What does this mean exactly?

Administrator answers:

If they are strict about income requirements, then they are saying they want your income to be 45 times what the montly rent is.

Lets say the rent is 2000 a month, they want your income to be 90k. If you get a roommate, thats 45k each. I think that sounds a little high to me, most places just say your monthly rent should not exceed 40% your monthly income. If your credit is good, or if you can get another co-signer , it may not matter either way. I remember once I got approved for a 1600$ a month place on just 40k income. So it really varries from place to place.

Sandy asks…

how much is it for heat and hot water in a nyc apartment? is a small 2 bedroom apt?

hey i am from nyc and i am moving to a apartment that doesnt have heat or hot water included in the rent (i know its weird)because every apartment has its individual boiler you control it. i would like to know if any one is in the same situation and how much money do they pay a month? i know its nyc and the majority of the apts have hot water and heat included.

Administrator answers:

I would estimate it at 200-250 a month right now, it is is very well insulated you can deduct 30% of that. This estimate will vary with the type of heat and the weather conditions

William asks…

Can landlord raise rent for replacing dishwasher?

I live in NYC. The apartment had a non-working dishwasher which we weren’t aware wasn’t working when we moved in.When we first went to try and turn it on after a month, we realized it probably had been defunct for some time, at no fault on our part. Repairman had advised landlord to purchase a new one as the old one wasn’t worth repairing. The apt is not under NYC rent stabilized guidelines but I am under a 1 year lease. Can the landlord raise the rent for installing the new dishwasher without informing me beforehand? Can they even raise it at all while a lease is in effect? The apartment was advertised with a dishwasher. Your knowledge would be appreciated!
Thanks all for your responses!

To JIMBO: I’m aware there are very inexpensive dishwashers out there but I wouldn’t spend another dime on this place. I personally don’t NEED one and could do without it. I’m pretty sure the landlord will buy the cheapest thing they can find. I would have preferred them to repair the old one as we don’t need yet another appliance polluting the landfill but the fact of the matter is, I am already overpaying for an apartment where they could care less about tenants concerns so Im making sure I am getting the most of what I’m paying for every month.
Unfortunately you don’t know beforehand how the landlord responds to certain things and by the time you do, you’ve already signed a lease. That’s why I’m still living here.

Again, thanks to everyone who responded.

Administrator answers:

No they can not. Your lease is not effected. Dishwashers are really cheap anyway.

John asks…

Good areas of NYC for real estate investing?

Looking to buy a 1 bedroom apt to rent out. I don’t want to put any money down other than closing costs, and am looking to be cash flow neutral. Any ideas for areas to look at in new York City?

Administrator answers:

SPANISH HARLEM, WILLIAMSBURG (BROOKLYN).
WERE YOU WANT: CLOSE TO SOME TRAIN STOP (1-3 blocks, NOT LEAST: THE NOISE) OR CLOSE TO SOME SUBWAY STOP
I found APARTMENTS FOR SALE here (specialized newspapers, forum, free classifieds and more)http://real-estate-for-rent.blogspot.com/2007/10/apartments-for-sale.html

Thomas asks…

What kind of place could I rent a room until im on my feet enough for an apt lease?

Pref in nyc. 21 need to leave parents and have good credit, just not a lot of money right now.

Administrator answers:

Go on craigslist. Alot of people who need extra money rent out basements, bedrooms. Finished garages etc. Thats the best place to find cheap place to rent. Or just the newspaper.

Donald asks…

If i have 15kdown, 60ksalary, 685fica should i buy a 2br apt @ 250k & rent the other room out as i live there?

I figure the market is low and its agood time to invest and also have a nice place to live. or should i wait more for the market to hit rock bottom? i work in nyc. would like to purchase in hoboken jersey.
given the #s am i financially too weak to make this purchase?
Im really impressed with the answers so far…..to add to some of the previous answers….I will be working in the city and will not have car payments/insurance to worry about….although I will have student loans to pay since i am fresh outta undergrad…

Administrator answers:

Wow… I wish I could buy 2br apt for 250K in LA.

Sounds like affordable plan to me. I’d get my FICA higher first, but it’s easy for me cause I have it higher already. Do you have other debt?

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