10 Essential Apartment-Hunting Tips

Apartment hunting can be one of the most time consuming and stressful experiences a New Yorker can have. But you can learn from my mistakes and reduce the burden by following these simple tips:

1. Get a clear picture of what you absolutely don’t want, so that you can quickly eliminate apartments from your hunt.

Absolutely disgusted by parquet floors? Me too. That’s why I told my real estate broker, and the no-fee buildings I called, that I absolutely didn’t want anything with parquet. Is a good view important? Be specific, because their version of a “good view” is likely very different than yours. I didn’t want to have my living room look directly into another building, so I told them that ahead of time, and asked them to verify before taking me anywhere. Saved me a lot of running around the city.

2. Check the water pressure.

Many NYC buildings have very old, very narrow, water pipes running through them. The last thing you want is to move in and discover that it’s going to take you an extra 15 minutes every morning to rinse in the shower.

3. Know your budget.

What was on your tax return last year? From that you can figure out what you can rent. Almost all buildings and landlords require 40 times rent as an annual income (unless you’re paying cash up-front, which is never advisable.) So if you’re renting a $5000 apartment, your annual income must be over $200,000.

4. Ask your current landlord if you can rent monthly.

This’ll take a lot of pressure off, and if you find something you like but it goes south for some reason, you won’t be forced into a less-than-ideal apartment because you ran out of time.

5. Keep records.

Take video and photos when you’re hunting. Show the paper floorplan, building outside, and lobby. This will help you remember what you saw at what price. Keep records of what buildings you saw in a notebook or digital file you can edit on your phone, so you don’t waste time seeing buildings multiple times.

6. Talk to the neighbors.

Ask how they like living in the building. Ask if they can hear their neighbors through the walls or ceiling, and if the elevator is broken often. Ask how long it takes the landlord to fix something that’s broken. Go back later on your own and try to talk to at least a few people in the building, in case the one you talk to first has unusually quiet neighbors.

Found the Apartment You Want? Here’s What To Do Next…

Finally found a place that feels like home? Don’t get too excited. Here’s what to do to make sure you’ll still be happy when you move in:

1. Find out the whole situation.

Is it a co-op? If so, move on. No matter what your broker tells you (remember, they just want to make the sale), all NYC co-op boards have rules that state how long an owner can rent out the apartment. It varies from one to two years. What’s the landlord or seller’s deal? Why are they renting the apartment and do they plan on coming back, or letting a family member use it someday? Why are they selling? For these questions, I advise doing a little research and contacting the apartment owner directly, as the broker may advise the landlord to lie in order to secure the sale. You can find this info out as part of public record, then track them down on Facebook or Google.

2. Talk to the neighbors and doorman or superintendent.

What’s it like living in the building? Can they hear their neighbors through the ceiling or walls? Do people complain about noise? Does rent increase much each year? Do things get repaired quickly?

3. Hire a real estate lawyer to look over the lease.

Obviously, don’t ask your broker for a recommendation because there’ll be a serious conflict of interest. Your broker (and his/her lawyer friend) want you to go through with renting the apartment. Therefore, their lawyer buddy is far less likely to tell you if something doesn’t smell right. Always find your own totally independent counsel.

4. Looks up reviews of the building.

Find out if there are complaints from residents. Find out what the management company is like. Know what you’re getting.

Bonus tips: Update your address everywhere at once using Updater. And always make sure to click the light gray link at the bottom of Yelp reviews to view the “other reviews that are currently not recommended”, as Yelp has a worrisome habit of filtering most of businesses authentic negative reviews — the ones you should read first.

Want more tips? Check out our guide to why NYC broker’s aren’t working for you, and how to protect yourself.