Air BnB housing recs?
I know this question gets asked a lot in this sub but had to inquire about living recs for NY this upcoming summer. For context, I'm living with three others with offices around midtown.
I know NYU housing has strict rules and feels like a dorm which doesn't do much to justify the price, so I've been leaning away from that. I hit up some NYU kids for their apartment subleases, but it seems as though there's a pretty stark divide going on. The Stern kids are keeping their leases for their summer internships while the non-Stern kids haven't figured things out and will not figure things out until Spring. Definitely made me appreciate the value of early recruiting for finance.
I've been hearing about the AirBnB value, is that something anyone here can give insight to? Any help is appreciated, thanks!
When I did my IB summer analyst stint in NYC I stayed at the NYU Coral Gables dorm on 14th and 3rd. Great location but they still had super strict COVID restrictions in place (vaccine card, zero visitors allowed) and it cost $5600 for June - August. So yeah I would not recommend going through NYU.
I would definitely try to sublease if you can - this is the best option for SA housing. Hit up NYU facebook groups and ask around.
The AirBnb route is another option but ONLY do it if you can get accommodations for more than 30 days at a time. A kid in my summer analyst class was staying in an Airbnb for less than 30 days (illegal in Manhattan) and the owner got busted and he had to move out with less than a day's notice with nowhere to go. Ended up having to stay at a hotel, which was way more expensive, to finish out the summer, and it was a nightmare to move his stuff while working analyst hours.
The problem with Airbnb is they can cancel on you with literally no penalty, happens every year that someone's gets cancelled and they are absolutely scrambling for housing a week out. It's also extremely expensive, would budget $7-10k+ per person for the summer. If you can find one that's worth it with a few friends and it nets out to a reasonable number, go for it. I'd just ask the homeowner to come up with a contract and run it all though Airbnb. Maybe you guys put 50% down now, and the contract says neither party can cancel. Also, google the building to make sure Airbnbs are allowed, tons of buildings ban sublets, Airbnbs, etc. NYC is just extraordinarily strict.
NYU housing has dropped their rules as of the fall semester (most importantly, you can have guests now) I still think this makes the most sense, anything else will be more than double the price - likely $10k per person for the summer to Airbnb unless you're sharing a bed with your friend, while NYU is ~$5k for the entire summer.
Regular NYU apartment housing won't come up until mid to late spring, feels a bit late. Again, many apartments have strict no-sublet policy, so ask your friends for a copy of their full lease first... would suck to get kicked out mid-internship
If I were you, I'd proceed with NYU housing and if you down the road find something better that's a sublet, you can cancel NYU for $50 before April 15
I agree with this cancellation qualm. I’ve used AirBnB a fair bit and had 2 cancellations which completely F-ed me and I’ve had to pay insane hotel prices during a time of high demand where the prices were way jacked up. I don’t recall even getting any money back from the AirBnB for the inconvenience. Now I’m almost a little nervous getting AirBnBs because they are not always guaranteed. I’d say the ratings of the user and if they are a SuperHost mean a lot more to me now for security and peace of mind.
SuperHosts are the way to go, peace of mind is the biggest factor. I've personally been burned before in Toronto last year... they decided to tell us due to 'unforeseen circumstances' that our check-in date would need to be bumped 48 hours. If the price had been cut accurately and they threw in some perks, I wouldn't have minded and got another hotel for those first two... but nope. Check-in was at 4pm, we were informed around 2:15p. Ended up paying around $500/night for the Intercontinental. It was either that or a Super 8 or some other dive.
Canceled the BNB, left a scathing review. I think that's the first time I've ever done that, felt like a Karen. I'm just not sure how the hell you can expect two people who just got off a four-hour flight and are exhausted to deal with that. I remember sitting in the coffee shop and calling around, trying to ensure we weren't gonna end up staying outside. It's funny to look back on and laugh now, but I haven't booked w/o a SuperHost since then. BNB didn't give us shit, refund took days to process, and they just didn't care. Can really get burned if you're not careful.
NYU housing is expensive and shitty but it’s nice living with lots of fellow interns. My bank set us all up in the same dorm close to our office.
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