renter's guide
NOTES ON LEASING

If you are new to leasing in Manhattan, here are a few essentials you need to know:

  • There are many avenues to take when seeking to lease an apartment. Online resources, individual websites, newspapers and the like can provide options, though you may be offered too small a market segment and / or listings which may or may not exist. It is our aim at NYPRG to provide you with as many options as we can find, help you sort through them by use of photos, floorplans, location maps and relative pricing. We are familiar with most NYC buildings and management companies, and can provide insight into the timelines, requirements and fees during the selection process. Once an apartment is selected, we will assist in the application and submission process. Our fee structure is explained up front so there are no surprises.

Lease terms in New York are typically one year in duration with options to renew and set rent increases available. For periods less than one year, one may expect to see higher rents for leases of 6 months, 3 months or for those of flexible duration. Furnished rentals may be viewed as extended stay hotels with fewer amenities.

There are essentially only three types of residential buildings in Manhattan:

  • Rental buildings have the widest range of variation of service and price, from walk-ups to elevator buildings with Concierge services. Many are owned by large landlords who provide standardized requirements and published apartment prices. We will be able to help you save time and effort by matching your needs with the best apartments out there.
  • Rentals occasionally come up in Co-ops, primarily owner-occupied buildings which exercise scrutiny in who may or may not lease. Applications may be very involved, board approval may be required, and one or two months may be necessary to go through the process. Many of Manhattan’s most desirable buildings are Co-ops and in some cases the effort may well be worth it.
  • Unlike Co-ops, Condominiums may be purchased by investors for the purpose of renting. These buildings are accustomed to housing both owners and renters, and as such have more streamlined and simplified application processes. Amenities abound and the buildings are generally no more than 15 years old (modern).

Requirements

A rental application, credit check release form and employment/ reference letters are required in almost all rental scenarios. In some cases a financial disclosure form will also be required. Back-up documentation and additional security deposit may be requested to provide landlords assurance of payment. We provide guidance through the collection of all these materials to clarify and simplify the process.

HELPFUL INFORMATION
  • Verizon
  • Telephone Company
  • 148 West 125th Street
  • New York, NY 10027
  • 212.665.2060
  • Con Edison
  • Gas & Electric
  • Cooper Station
  • PO Box 138
  • New York, NY 10276
  • 1.800.752.6633

Brooklyn, Queens, and Staten Island residents served by Keyspan: 718.643.4050

Electric & Gas Emergencies: 1.800.752.6633

  • Time Warner Cable
  • Cable & Road Runner (High Speed Internet)
  • Manhattan/Brooklyn/Queens: 718.358.0900
  • Staten Island: 718.816.8686
  • RCN
  • 1.800.746.4726