Lease A Hall Nyc: Fill & Download for Free

The height of the rental season is spring and summer. It will be a challenge to find a landlord willing to give an 8 month lease.Reasonable price is relative.You may want to consider finding another grad student or roommate(s) and get a bigger apartment together. That way will probably be less expensive than going on your own.You may need guarantor or co-signer on lease if your income is not at least 40X the rent. The guarantor will need an income of 80x rent. For a rental the best time to look is 30 days before your move-in day. Apartments move quick.The good news is the market is soft now. Landlords are offering deals and incentives. It may tighten up by the summer.Renting an Apartment in Manhattan, NYC

Buying a coop is a form of ownership. A coop is a housing corporation. Each apartment in a coop is allocated shares in the corporation based on square footage, room count, views and other attributes. A three bedroom penthouse will have more shares than a 1 bedroom on a low floor. The number of shares will determine the monthly maintenance and the portion of real estate tax and underlying mortgage allocated to the particular unit. Shares can be voted and a 2/3 majority “quorum” is usually required to change a specific bylaw.The unit owner is given a stock certificate (held by lender if unit is financed) and proprietary lease and bylaws instead of a deed.The Corporation is governed by a Board of Directors. It is this Board that establishes what the requirements are in order to purchase an apartment in their building. The board serves as fiduciary to the shareholders and its primary duty is to maintain and raise the value of the property, building and units.Although a coop is a form of homeownership (approximately 70% of non rental housing in Manhattan) it is not considered “real property” like a house or condominium. It is considered “personal property” since the owner is a shareholder in the housing corporation and doesn’t own the actual walls within the unit.Most coops have “restrictive covenants” provisions that limits or prohibit certain uses and transfers such as board approval, financial requirements to purchase separate from lender requirements, subletting, “flip tax” (private transfer fees) pied-a-terre etc.Coops can increase substantially in value like any other type of real estate. Many coops are sought-after prestigious buildings. Certain buyers prefer the quality of life in a coop to the limited rules in condos.Co-op ownership means that you must decide not only whether you like the apartment, but also the building must decide if they will be willing to accept you. Passing a co-op board adds at least 6 - 8 weeks to the purchase process.Leasing an apartment is renting an apartment from a landlord or owner. An apartment can be leased in a rental building or subleased from a condo or coop owner. A lessee is the person who rents the apartment from a lessor. The lessee is also known as the "tenant", and must uphold specific obligations as defined in the lease agreement and by law.The lease is a legally binding document, and if the lessee violates its terms, he or she could be evicted. Unless tenant is in a rent regulated apartment (rent stabilized or rent controlled) the landlord/lessor can raise rent to whatever they want at the end of lease or they do not have to renew lease.The primary difference: Buying a coop is an investment. It’s an asset that will increase in value over time while leasing an apartment is paying rent to live in someone else's investment and asset for a specified period of time.nyc BLOG estate | New York City Real Estate

Yes. This time of year is the best time to find and lease a rental apartment as opposed to the very competitive height of the rental market in the Spring and Summer.The current rental market in Manhattan is down. For the first time in years there is a good supply of inventory. Landlords are offering concessions and incentives. Like everything else in real estate rent prices and terms are negotiable.There are many factors that determine the rental price of an apartment. Besides square footage many other factors determine rent prices even in the same neighborhood or on the same block.Inventory, pre war, post war, post modern, luxury, ultra luxury, doorman, concierge, elevators, health clubs and other amenities determine the rental price. While average and median prices show trends rental prices are building to building specific.Renting an Apartment in NYC